Fourth lower high, the breakout still waits
MAGS slips 1.2% as lower highs stretch to 4
Our view last week
MAGS, the Magnificent Seven ETF, slips 1.3% this week and stalls just short of its recent high, the level that should trigger the real breakout. Compared with seven days ago the picture has lost some shine: volumes are contracting and sellers were slightly in charge in the last weekly candle. Signal strength stays low, 27 out of 100, and the trade is still up 2% since entry. Weekly technical analysis of a buy signal in its 4th week.
This week's summary
MAGS, the Magnificent Seven ETF, closes the week with its fourth straight lower daily high, sliding from the 70 area toward 68: the setup stays capped below the breakout trigger, in the 68.92 area. Versus last week the picture hasn't turned: signal strength is still stuck at 27 out of 100, and the trade has slipped from +2% to +0.8% since entry. Weekly technical analysis of a buy signal in its 5th week.
IQS Phase
59
ordinary
Signal Strength
27
low · fading
Sizing
MINIMUM
Ranking
#158 / 167
US stocks in progress
Trade P&L %
+0.82%
from signal to date, no stop loss
Rank position
ranks 158th among the 167 Longs already running for US stocks in our ranking, with a signal strength of 27 out of 100.
Sector context
SectorETF Tematico
Benchmark ETF—
Sector regime
Performanceweekly coming soon · monthly coming soon
MAGS belongs to the etf tematico sector (reference ETF ).
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