Navigating Resistance: Analyzing Magma's Stock Price Behavior

Testing Resistance - The stock price of Magma has recently made multiple attempts to challenge the resistance at 29 cents but has been unsuccessful. Currently, it has retraced to near the 20-day moving average, seemingly finding short-term support. If the stock price can break through and hold steady at 29 cents, there is potential to challenge 35 cents next, with support expected around 18.5 cents.