TOPGLOV : the return of bulls ? (Trend analysis)

While TOPGLOV appears to be in a downtrend since October 2020, recent rebound raises a lot of questions whether the rally would sustain. A few things we've noticed here on the chart which are:

- A tentative downtrendline has been broken
- Positive divergence in RSI
- An inverted H&S pattern (however, rally volume seems diminishing after breaking the neckline)
- Price broke and stays above MA 50
- MA cross appears overstretched and still in sell mode
- Nearest support at neckline area around RM5.40
- Nearest resistance at RM6.00

From our analysis, we are cautiously bullish on TOPGLOV at least in the short term. To increase the bullish bias, we would like to see a break above RM7.00 level which is the MA 200 and a previously consolidation area which might prove to be a difficult resistance to break. A breakdown below March's 2021 low at RM4.45 however would change our view