The World’s Hottest Stocks Have Gone Nowhere
Quick Update
Time for a quick rundown of the MAG7 charts. Still mostly boring, but that will eventually change.
No trend META
Long term trend stays intact, but we are below the 200 day. META is trading at the same levels we traded at last year. More boring before this one gets exciting.
Source: LSEG Workspace
Dead money
MSFT is down to the 200 day support, but this remains a dull name. We are trading at the same levels we traded at in July 2024...
Source: LSEG Workspace
More boring
AMZN trades at December 2024 levels... note the longer term trend line and the 200 day are getting closer.
Source: LSEG Workspace
NVDA
The world's hottest stock is trading at July levels, i.e very little trend over the past months. $170 is huge. A break below and the HS formation could come into play.
Source: LSEG Workspace
Anti AI Apple
The anti AI trade has performed very well over the past months. Apple has traded inside the pretty much perfect trend channel. Note the 50 day coming in slightly lower.
Source: LSEG Workspace
King TPU
Google's "comeback" has been impressive over the past months, but the stock just put in the biggest cumulative move lower since the bull started. The short term trend line comes in around here, and the 50 day sightly lower. Big short term supports coming up.
Source: LSEG Workspace
Never bet against Elon
TSLA pushed to new ATHs, but reversed quickly. Big levels here, but a close above recent ATHs, and there is only vacuum above...
Source: LSEG Workspace
MAG7 performance
YTD performance, from the top: GOOG, NVDA, TSLA, MSFT, META, AAPL, AMZN.
