From Dow Jones & Company:

The “Magnificent Seven” stocks – Amazon.com, Apple, Alphabet, Nvidia, Meta Platforms, Microsoft, and Tesla – took the S&P 500 in 2023. Expert technical analysis helps predict the future of the stocks, with the Relative Strength Index (RSI) being a favorite indicator. The recent RSI readings for the seven stocks are: Meta Platforms – 67, Amazon.com – 64, Alphabet – 64, Tesla – 58, Microsoft – 56, Nvidia – 55 and Apple – 54. Technical analysis offers important hints and ideas, but should always be confirmed with a mix of indicators and analysis before trading. Extreme overbought readings reflect serious investor overconfidence and tend to occur before market corrections and crashes. If RSI rises too far and too fast, taking money off the table is a wise decision. All of the stocks from the group have strong stock charts above their 50, 100, 200 day moving averages. Two of them – Amazon and Apple – have RSI in the 70’s, not yet overbought levels.



Read more: Opinion: 4 of the Magnificent Seven stocks are losing their mojo