"2024's Market Shift: Beyond the Magnificent Seven to the Fab Four"
Originally Published 2 years ago — by Investor's Business Daily
The "Magnificent Seven" tech stocks, including Nvidia, Microsoft, and Amazon, are facing early tests in 2024 as they react to market movements and key moving averages. Investors are closely watching these stocks' performance around the 21- and 50-day moving averages, volume trends, and relative strength lines to gauge market demand and potential trend changes. Nvidia, as an example, is forming a flat base with a specific buy point, and its relative strength line has shown some downward movement at the start of the year. The IBD Breakout Opportunities ETF (BOUT) offers an alternative way to invest in these stocks by tracking the IBD Breakout Stocks Index.