Chagee has been speeding up its store openings in Malaysia. Recently, they had grand openings at Subang Parade and KB Mall from 28 to 30 August. Around the same time, from 29 to 31 August, they also opened new outlets in Sunway Putra Mall, Puncak Jalil, Damansara Uptown, AEON Bandar Dato Onn, The Mines, Setia Taipan, Bandar Bukit Raja, and Pelangi Avenue

After surpassing 100 stores in Malaysia in May 2024, Chagee is now about to open its 200th store, less than a year and a half later. The brand has expanded its presence to major cities like Kuala Lumpur, Melaka, Kota Kinabalu, and Kuching.

After a sharp pullback from its July peak, Magma has staged a rebound from the RM0.21 level and is now consolidating near RM0.305. The stock has broken out of its steep downtrend channel and is attempting to stabilize above its immediate support at RM0.275, suggesting that selling pressure may be easing.

Momentum indicators are mixed. The MACD remains neutral, indicating no clear directional bias for now, while the RSI has recovered to 36.5 from oversold territory, showing early signs of a momentum shift. Price action is currently below the 20-day, 50-day, and 200-day EMAs, which continue to act as overhead resistance.

Technical Resistance 1 (RM) 0.33 Resistance 2 (RM) 0.38 Support 1 (RM) 0.275