Here's the latest attempt that seems to work (so far ;-)):

#!/bin/bash
HOME_DIR=/home/stellarmate
LOG_DIR=$HOME_DIR/.local/share/kstars/logs
MOUNT_NAME="iOptron CEM40"

LATEST_LOG_FILE=$(find $LOG_DIR -type f -exec ls -t1 {} + | head -1)
echo "Latest lof file: $LATEST_LOG_FILE"
while true
do
  latest_log_statement=$(tail -n 1 $LATEST_LOG_FILE)  
  if [[ $latest_log_statement = *'Input/output error'* ]]; then
      echo "Lost connection - reconnect..."
      indi_setprop "$MOUNT_NAME.CONNECTION.DISCONNECT=On"
      indi_setprop "$MOUNT_NAME.CONNECTION.CONNECT=On"
      sleep 2;
      indi_setprop "$MOUNT_NAME.TELESCOPE_PARK.PARK=Off"
      indi_setprop "$MOUNT_NAME.TELESCOPE_PARK.UNPARK=On"
      sleep 2;
      indi_setprop "$MOUNT_NAME.TELESCOPE_TRACK_STATE.TRACK_OFF=Off"
      indi_setprop "$MOUNT_NAME.TELESCOPE_TRACK_STATE.TRACK_ON=On"
  else
      echo "All OK"
  fi
  sleep 2;
done


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