The Magnificent Seven: A Risky Decline or Upside Potential?
Originally Published 2 years ago — by Seeking Alpha
The Magnificent 7 stocks, including Nvidia, Tesla, Meta, Microsoft, Apple, Amazon, and Alphabet, may be facing a significant decline based on technical charts. The initial rise in these stocks was driven by a short-volatility dispersion trade, but the trade is now falling apart. The Bloomberg Magnificent 7 index shows a triple-top pattern, indicating that the recent rally may be over, and significant losses could occur.