The Roundhill Magnificient Seven ETF (MAGS) is experiencing heightened volatility following a challenging week for mega cap technology stocks. The fund recently recorded one its largest single day drops since early 2025, heavily impacted by a post midterm election selloff and massive deleveraging within long-short hedge funds.
Technical Insight:
MAGS is position in ascending channel, scaling gradually on highs and lows pattern in concern to the framework. The ETF recently broke below its principle trend support line, after couple months trending on bullish pathway. Price is partially making a retest, as there's possibility of more bearish drop.
Key Point:
More sell confirmation between $68.87-$67.60, activates a short position down to $62.77, as next potential bearish.
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Technical Insight:
MAGS is position in ascending channel, scaling gradually on highs and lows pattern in concern to the framework. The ETF recently broke below its principle trend support line, after couple months trending on bullish pathway. Price is partially making a retest, as there's possibility of more bearish drop.
Key Point:
More sell confirmation between $68.87-$67.60, activates a short p...