Stock Market Today: Stocks Quiet; Tesla Skids, Facebook Looks To Be Next FANG Breakout | Stock News & Stock Market Analysis

The major market indexes were mostly quiet in early morning trade Monday. The tech-heavy Nasdaq moved up 0.1%, as FANG stocks — like Facebook (FB) — advanced higher. Meanwhile, the S&P 500 and Dow Jones industrial average hovered around their break-even marks.

XAutoplay: On | Off Among the Dow Jones Industrial components, Apple (AAPL) advanced 0.9% after Citigroup analysts commented that reports of the iPhone X being delayed are inaccurate. Shares are about 1% below their 50-day line after a two-week win streak.

On the downside, General Electric (GE) fell over 2% after shakeup of the board of directors was announced early Monday. The stock has been in a downtrend since July 2016, and continues to find significant resistance at its 50-day line.

Video streaming platform Netflix (NFLX) was poised to extend its winning streak to five trading sessions, rising another 0.2% early Monday. After last Thursday’s breakout, the stock is on the cusp of being extended from its 190.05 cup-with-handle entry. The 5% buy zone runs up to 199.55.

Meanwhile, fellow FANGs Facebook and (AMZN) rose 1.2% and 0.9%, respectively. Facebook advanced closer to its 175.59 flat-base buy point, while Amazon rose further above its 50-day line — which is recaptured last week. Finally, Google-parent Alphabet (GOOGL) approached its own buy point, rising 0.6%. The search giant shows a 1006.29 entry.

Global investment bank Morgan Stanley (MS) was upgraded early Monday from neutral to outperform at Credit Suisse. Shares turned an early gain into a 0.3% loss. The stock is still in buy range from a cup-with-handle’s 48.59 entry.

Among other analyst actions, Take-Two Interactive Software (TTWO) was downgraded from outperform to market perform by Cowen & Co. Shares dropped about 3%, but remain well-extended from their most recent buy point — a 80.64 cup-shaped base entry.

Among leading stocks, electric automaker Tesla (TSLA) skidded almost 3% in the stock market today. Late Friday, the company pushed back the unveil date of its big rig truck to mid-November. Shares have been battling to remain above their 50-day line.

Meanwhile, Workday (WDAY) declined 1.7%, but is still within striking distance of a flat base’s 111.55 buy point.

Within the IBD 50, Nvidia (NVDA) moved up over 2% and is back out of buy range from a 174.66 flat-base buy point.

On the downside, retailer Five Below (FIVE) slipped back into buy range from a 54.23 cup-shaped base buy point, falling 1%,


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Originally posted 2017-10-09 14:48:10.


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