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It continues to be a week with lots of data — mostly a catch-up — and it’s creating a bit of volatility in the broad market. So what I want to look at today is the Mag 7 stocks — those seven large tech stocks that usually have some pretty significant moves.
We’re going to go through the charts, and I did not prepare them in advance. This is a good way for you to see how to pick back up on something you’ve been analyzing or observing.
Let’s dive in.
🔍 Highlights
1️⃣ AAPL — Apple
Here I had a resistance level that’s already been taken out and a support level well below.
When you revisit a chart that has broken above a level you were watching, you update it. The next upside target is the December 3 high. If price trades beyond that, the 310.00 area becomes the next objective.
When resistance moves, support should move as well. It doesn’t mean the old support is invalid — it just isn’t the level shaping the current move.
The January 20 low is the platform lifting Apple from deeply oversold conditions. As long as price holds above that level, the bias remains toward the December 3 high and potentially higher.
2️⃣ AMZN — Amazon
Amazon broke below a trend line and is now consolidating. Momentum is quite oversold.
On the daily chart alone, I don’t have enough information to form a conclusion, so I stepped back to the weekly. On that timeframe, we’re retracing part of the move from the April 2025 low and have been dancing around the 50% retracement.
Back on the daily, I see room for a move lower before higher. The May 6, 2025 low near 184 is the next support level.
If shares reclaim the 210.00 area, then a move back toward that prior trend line becomes possible. Until then, Amazon has room to weaken.
3️⃣ GOOGL — Alphabet
Alphabet continues to respect the December 17 low as its primary platform.
There was a strong extended move, and now price is pulling back. Momentum has weakened, but price has not taken out that December 17 low.
That leaves room for the stock to regroup.
If price pushes higher, the February 3 high is the first upside target. A break below December 17 would shift attention back to the November 14 support.
4️⃣ META — Meta Platforms
Meta’s chart needed some cleanup.
The prior resistance around 674.00 has been pierced, so it no longer defines the trend. The more important reference point is the November set of lows.
Price appears to have room for another push lower, potentially toward the 610.00 area. From there, it could begin forming a tradable low.
If price rallies first, the 750.00 area near a developing trend line would be the next upside reference.
5️⃣ MSFT — Microsoft
Microsoft’s decline since the October 28 high is currently shaped by the January 20 high.
When I ask which level would need to be violated to change the tone, it’s the most recent stair-step high that produced the current down leg — and that’s January 20.
On the weekly timeframe, price has retraced more than 50% of the prior advance and is approaching the range from the week ending April 11.
If price continues lower, the middle of that range near 369.00 becomes a downside objective.
If shares close the gap and move above the January 20 high, that would change the tone.
6️⃣ NVDA — NVIDIA
NVIDIA remains in a broad range.
The January 5 high was tested again on January 30. While that ceiling has been pierced slightly, it continues to exert pressure.
Support from December 17 is still holding, with price approaching it again recently.
With earnings expected later this month, NVIDIA is trading sideways within defined boundaries. A break beyond either side of that range would provide the next directional clue.
7️⃣ TSLA — Tesla
Tesla has bounced modestly but remains below the January 23 high, which defines the downtrend from the December 22 peak.
That January 23 level is the key resistance that would need to be cleared for the tone to improve.
On the downside, the November 14 low near 383 is the primary platform of support. Two lows cluster in that area, reinforcing its importance.
Between those levels, Tesla continues to consolidate.
That’s my current take on the Mag Seven stocks.
If you trade or observe these names — or if you picked up a reminder about how to update your levels — go ahead and hit the Like button over on YouTube.
~ Hima
🚨 PS — Watch the Replay: Last Night’s Weekly Trading Show
We had our 5th ever broadcast of Ticker Request Live yesterday! There were lots of tickers reviewed along with trading lessons imparted!
📺Catch the Feb 10th replay here on Youtube (will come down without notice):
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