Magma Group Bhd (MAGMA) – Strong Rebound Signals Momentum Recovery


Latest Price: RM0.325


Magma experienced a sell-off earlier but has since staged a strong rebound, reclaiming lost ground and building a constructive base. The recovery was marked by higher volumes and a swift move back above the short-term moving averages (EMA20 & EMA50), signalling that buyers are regaining control.

The alignment of the EMAs is gradually improving, with price consolidating above the key EMA20 (RM0.329) and EMA50 (RM0.324). This setup reflects stabilisation after the dip and provides confidence that momentum is tilting back to the upside.

Meanwhile, RSI has lifted from oversold conditions and continues to stabilise near the mid-range, suggesting that selling pressure has subsided. The rebound also saw strong intraday momentum surges, underscoring that dip-buying interest remains intact.

As long as the counter holds above the RM0.310 support region, the structure favours further upside. Sustained closes above RM0.330 would strengthen bullish conviction, paving the way for a retest of RM0.350 in the near term.

The strong rebound off recent lows has reset Magma’s momentum profile. With improving EMA alignment and supportive RSI readings, the stock is well-positioned to extend its recovery. Market tone remains constructive with positive follow-through expected.

Closing Note: Magma’s rebound looks strong, and the chart suggests this