Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Stocks

Mag7 ETF Leads as Bullish Pattern Forms – Charting the Trends and Trading Setups for the Mag7 Stocks

by January 24, 2025
January 24, 2025
Mag7 ETF Leads as Bullish Pattern Forms – Charting the Trends and Trading Setups for the Mag7 Stocks

The Mag7 ETF (MAGS) formed another short-term bullish continuation pattern as it worked its way higher since the triangle breakout in mid September. This report will also analyze the long-term trends, highlight the short-term setups and compare performance for the stocks in this ETF.

First and foremost, MAGS is in a long-term uptrend with a new high in mid December and price well above the 200-day SMA. This ETF has been in a long-term uptrend since the big surge and breakout in November 2023. MAGS started trading in April 2023 so the 200-day SMA did not start until late January 2024. MAGS fell sharply in July 2024, but held above the 200-day SMA and resumed its uptrend with a new high in November.

The indicator window shows the MAGS/RSP Ratio, which measures relative performance. This line rises when MAGS outperforms the S&P 500 EW ETF (RSP) and falls when MAGS underperforms. MAGS is outperforming the broader market as the price-relative rises and hits new highs.

With MAGS in a long-term uptrend and leading the market, we want to be focused on bullish setups within this trend, such as bullish continuation patterns. MAGS and several other tech-AI related ETFs were featured in our report on Thursday. Medium-term, MAGS formed a triangle in July-August. This triangle formed within a long-term uptrend and was a bullish continuation pattern. MAGS broke out in mid September and worked its way higher the last five months.

More recently, the ETF formed a flag in October, a pennant in November and another flag here in January. These are short-term bullish continuation patterns. MAGS is breaking out of the flag this week and this signals an end to the pullback and a resumption of the uptrend. Re-evaluation support is set at 53.

Nvidia (+146%), Tesla (+97%), Amazon (+35%) and Meta (+66%) are powering MAGS with the biggest gains over the past year. Microsoft (+13%) and Apple (+15%) are the laggards in the group, but one is setting up and the other resumed its uptrend. This report continues at TrendInvestorPro where we analyze the trading setups for each of the Mag7 stocks. Click here to take a trial and gain immediate access.

/////////////////////////////////

0
FacebookTwitterGoogle +Pinterest
previous post
Investors are Pouring Into Gold Miners—Here’s What You Need to Know!
next post
The Best Five Sectors, #4

You may also like

Called the Top and the Destination

September 2, 2022

5 Simple and Powerful Uses for Moving Averages

June 12, 2024

Ready, Set, COVER! Breakouts Are A Short Seller’s...

January 28, 2023

DP Trading Room: Watershed Events in Gold &...

December 12, 2022

How To Profit From Bullish Gap-Down Reversals

March 16, 2024

Three Technology Stocks in Make or Break Scenarios

August 27, 2024

DP Trading Room: Overbought/Oversold Momentum

December 6, 2022

Will Santa Show Up on Wall Street? He...

December 23, 2022

Don’t Fight the Tape; Stock Market Returns to...

April 3, 2023

Why Some Make Forecasts

December 7, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • TSA tells Americans their Costco cards won’t fly at airport security despite love for hot dogs

      June 7, 2025
    • Trump announces China will restart rare earth mineral shipments to US after productive call

      June 7, 2025
    • Musk feud presents ‘unprecedented’ dynamic compared to past Trump disputes: expert

      June 7, 2025
    • Snub of Musk’s NASA nominee ally preceded sudden ‘big, beautiful bill’ criticism, Trump feud

      June 6, 2025
    • Supreme Court rules DOGE can access Social Security information

      June 6, 2025
    • US sanctions money laundering network aiding Iran as regime faces nuclear reprimand at IAEA

      June 6, 2025

    Categories

    • Business (8,149)
    • Investing (2,019)
    • Politics (15,558)
    • Stocks (3,134)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved