Stock Market Today: Stock Indexes Mixed, Bitcoin ETF Shatters 2,000 Mark; Can Tesla Break Out? | Stock News & Stock Market Analysis

Stocks finished mixed Tuesday, but Tesla (TSLA) had a very important session. Shares in the electric vehicle firm gained more than 3% in heavy trading and continued Monday’s rebound back above the key 50- and 200-day moving averages.

X Tesla, a June 2010 new issue, is getting an order of 100 electric semi trucks from PepsiCo. Watch to see if the innovative transport and energy storage firm can form the right side of a potential first-stage base.

Meanwhile, bitcoin fever was unabated. The Bitcoin Investment Trust (GBTC) shot 22% ahead to 2,273, breaking the 2,000 barrier for the first time. Volume zoomed 155% above the 50-day average to 232,500 shares.

The Nasdaq fell nearly 0.2% amid weakness in Chinese internet as well as software and semiconductor shares.

The S&P 500 advanced nearly 0.5%; the Dow Jones industrial average rose nearly 0.2% and the S&P SmallCap 600 eased nearly 0.2%. Volume ran higher on both exchanges, according to early data.

Tesla broke out of a sloppy cup with handle with a 370.10 buy point in October, but did not hit new highs and flopped.

The stock then undercut the low of that base, thus resetting the base count, a good thing. But Tesla will still need to prove to institutional investors that it will return to a path of profitability.


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Originally posted 2017-12-12 23:16:34.


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