The Roundhill Magnificent Seven ETF (MAGS) is an ETF which supplies equal‑weight publicity to the “Magnificent Seven” tech giants. The ETF consists of Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla. Launched in April 2023, it provides buyers a easy, environment friendly strategy to seize the efficiency of those market‑main innovators. Beneath we are going to replace the Elliott Wave technical outlook for the ETF.
MAGS Weekly Elliott Wave Chart
On the weekly Elliott Wave chart of the Magnificent Seven ETF (MAGS), the rally from the all‑time low culminated in wave (I) at $58.69 in December 2024. The rally unfolded as a 5‑wave impulse construction. The ETF then corrected in wave (II), which bottomed at $39 in April 2025. From that low, MAGS resumed greater in wave (III) as a nested sequence, advancing to finish wave I at $69.14. It’s now pulling again to right the cycle from the April 2025 low in a 3‑, 7‑, or 11‑swing construction earlier than resuming greater.
MAGS Day by day Elliott Wave Chart
The every day Elliott Wave chart of the Magnificent Seven ETF (MAGS) reveals that the rally from the April 2025 low resulted in wave I at $69.14. The pullback in wave II is unfolding as a double‑three corrective construction. From wave I, wave ((W)) accomplished at $60.13. The rally in wave ((X)) is now in progress, correcting the cycle from the October 29, 2025 excessive in 3‑, 7‑, or 11 swings earlier than turning decrease once more. Close to time period, so long as the pivot on the $39 low stays intact, the pullback is predicted to seek out help in a 7‑swing sequence, setting the stage for additional upside.