Mag7 Tech Stocks - Edition #11

Monday’s Open Analysis

Roundhill Magnificent Seven ETF (MAGS)

Last week's close was just horrible. We had a bearish engulfing candle on the weekly timeframe which only implies one thing… The market is weak and we must BE CAUTIOUS. 

Short term we are looking for a quick bounce toward $44-$45 followed by a bearish continuation to $41’s at first, followed by a possible $39’s second. 

Nvidia (NVDA) - bullish

Second consecutive bearish engulfing candle on the weekly time frame chart and we landed on our ideal entry long at around $100’s. Short term it looks like we might have found a temporary bottom nonetheless we must see a strong bullish reaction ASAP. A strong bullish close above $108 is key for better confluence on our swing trade long idea. 

Tesla (TSLA) - bullish 

As we posted on our private chat rooms, our long area was hit. Price action wise everything is aligning, lots of confluence for a short term bullish bounce. 

Stop at $202

Target at $260’s (+26% ROI trade)

Apple (AAPL) - bearish  

No rush in  jumping in right now, this one’s showing lots of weakness and more than likely we’ll see $210’s soon. 

Alphabet (GOOGL) - bearish

Macro looks extremely strong nonetheless short term $130’s should be on its way. There is no bullish strength on the lower time frame charts either. Standby for now. 

Amazon.com (AMZN) - bearish  

Bearish outlook remains the same. Unless we get a strong move above $180 there is no need to be catching falling knives. 

Microsoft (MSFT) - bearish

We are approaching a key level. As for now there is no bullish strength. We must see a strong price reaction soon at high $390’s.

Meta Platforms (META) - bearish

Perfect bearish retest, we are waiting for $480’s. 

Previous report HERE:

Mag7 Tech Stocks - Edition #10

Mid-week update. Nvidia (NVDA) - bullish We are currently at the ideal long entry, small market buy at current price will be smart. A retrace continuation towards $100 is still in play so DO NOT GO ALL IN. Dollar cost averaging your way in. Hopefully we see a strong reaction

Zelf TradeLuis Ricardo Guizado

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