✅ 🎯 The Roundhill Magnificent 7 ETF 
MAGS has indeed reached the anticipated retrace level of low $40's, as expected and the reaction off of this level was quite bullish.
Examining the two-week chart, the price has just closed with a prominent pin or doji bar, however you want to call it, signaling a potential pivot point. Additionally, there is a bearish 2W Timemode set to expire by the end of the month, further supporting the possibility of a near-term bounce or consolidation.
This suggests that the recent downtrend may be nearing its end, at least in the short term. However, price remains below a critical resistance level of $49, meaning any upward movement should be approached cautiously as it may be a potential retest of the range high unless a decisive support/resistance flip occurs.
MAGS has indeed reached the anticipated retrace level of low $40's, as expected and the reaction off of this level was quite bullish.Examining the two-week chart, the price has just closed with a prominent pin or doji bar, however you want to call it, signaling a potential pivot point. Additionally, there is a bearish 2W Timemode set to expire by the end of the month, further supporting the possibility of a near-term bounce or consolidation.
This suggests that the recent downtrend may be nearing its end, at least in the short term. However, price remains below a critical resistance level of $49, meaning any upward movement should be approached cautiously as it may be a potential retest of the range high unless a decisive support/resistance flip occurs.
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