Mapping the market: Path to gains for Mag 7 still clear after recent pullback
MAGS•Technical analysis suggests further gains remain possible for the Magnificent Seven after a recent pullback. MAGS ended Wednesday at $72.08, about 1.9% below its Tuesday peak, with resistance near $73 and support at $66.55-$65.00.
1. Resistance levels ahead
The Roundhill Magnificent Seven ETF (MAGS) briefly moved above resistance near $73 this week but failed to hold there. A decisive close above that level could put the next resistance, just under $82, tied to the December 2024 high, in focus.
2. Support zones
Initial support is at $71.16-$68.00, followed by $66.55-$65.00. The lower zone is reinforced by the August low, the 200-day moving average and an uptrend line stretching back to the April 2025 low; that trendline held during pullbacks in late June and late July.
