Google It:
Is the safety of the “Magnificent Seven” vanishing? Or are they resetting? AAPL now sits 14% off most recent 52-week highs and sliced below its 200-day SMA last week for the first time since Q1. MSFT slumped almost 4% on 10/26, erasing all of the previous session’s earnings-related gain, which recorded a large bearish filled-in candlestick. AMZN rose 7% last Friday and could be honing in on a double-bottom pivot point. With that said the retail giant is still 10% off its annual peak. NVDA is 18% off its highs near the very round 500 number from August and is flirting with a bearish head and shoulders neckline at the 400 figure. TSLA is now more than a third off its most recent 52-week highs and Monday sliced the very round 200 number falling 5%. META registered a failed breakout above a cup base trigger of 326.30 on 10/11. Are these names now being shunned or are they resting for the next leg up? The technicals are not that inspiring. Below is the other member of the “seven” in GOOGL. If it can gather itself here after the recent gap fill and just above the upward-sloping 200-day SMA, it may embolden the mega caps.