The Mag 7 — Heavy, Tired, and Still Soggy
Massive in META
META trading right on the longer term trend line. We are well below the 200 day MA and the death cross is in place since a while ago. $600 is the line in sand level to watch.
Source: LSEG Workspace
Breaking Bad
Apple started losing the anti AI outperformance touch late last year. The stock has now crashed through some major support. We are well below the 50 day (now negatively sloping) and also below the 100 day here.
Source: LSEG Workspace
Soft
Microsoft continues to trade soft. The stock has broken below short-term support near $460, with RSI now oversold at 29. That said, the longer-term trend line sits much lower, and the stock has just printed a large death cross.
Source: LSEG Workspace
Still stuck
Amazon remains stuck inside a noisy range that’s been in place since the summer. The stock is now approaching the major trend line and has just tagged the 100-day MA. Meanwhile, the 200-day MA is once again starting to slope higher, gradually catching up.
Source: LSEG Workspace
The one and only
Google continues to stand out as the only impressive MAG stock lately. Price is now down at channel lows, tagging the 21-day MA. Since the September gap, the stock has spent very little time below the 21-day. The 50-day MA sits lower, around $310.
Source: LSEG Workspace
Tesla
Tesla is down to range lows. $420 is a big short term support area to watch. Note we dipped below the long term trend line during yesterday's market sell off, as well as the fact we are trading below the 100 day for the first time since last summer.
Source: LSEG Workspace
Boring at best
NVDA continues trading inside a relatively tight and very boring range. Support: $170, resistance: just above $190. Note the 50 about to cross the 100 day MA (death cross light).
