After a blistering snapback rally over last the week, a number of the Magnificent 7 stocks are actively testing their 200-day moving averages. Let’s look at how three of these leading growth names are setting up from a technical perspective, and see how this week could provide crucial clues to broader market conditions into April. META Remains Above an Upward-Sloping 200-Day While most of the Mag 7 names already broke below their 200-day moving averages, Meta Platforms (META) is one of the few that have remained above this key trend indicator. We can see a very straightforward downtrend of lower lows and lower highs from the mid-February peak around $740 to last week’s low around $575. With the recent bounce, META has now established clear support at the 200-day as well as the December 2024 swing low. This “confluence of support” suggests that a break below $575 would confirm a…
