Magnificent Seven ETF · open buy, week 11
MAGS, the Magnificent Seven ETF, slips 0.1% after 5 weekly gains, a step from its record
Our view last week
A week ago a bearish engulfing showed up on the daily chart, with buying at 18% of trade. This week buyers took the stage back: 83% of the last session was on the buy side, and MAGS, the Magnificent Seven ETF, rose 3.1%, a 5th straight gain, just over 1% below its all-time highs. The weekly technical analysis stays bullish and the price action is in order, but the signal's push is fading: the trade is 8.6% in the money, and it is time to manage it.
This week's summary
After 5 straight weekly gains MAGS, the Magnificent Seven ETF, takes a pause: the week closes down 0.1%, just over 1% below its all-time high, which it approached without beating. A week ago price was climbing 3.1%; now the weekly candle is weak. MAGS technical analysis stays bullish, the MACD histogram rising for 6 weeks, yet among our weekly buy signals this one has little push left. For swing trading the trade, up 8.5%, is one to manage: fresh entries only on a pullback.
IQS Phase
63
ordinary
Signal Strength
12
low · fading
Sizing
MINIMUM
Ranking
#91 / 93
US stocks in progress
Trade P&L %
+8.49%
from signal to date, no stop loss
Magnificent Seven (MAGS) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 91st among the 93 Longs already running for US stocks in our ranking, with a signal strength of 12 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 ).
restricted Platinum content