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Tesla's Stock Busts Through 50-DMA Resistance Into Bull-Market Territory
Tesla stock heads for biggest gain in 8 months, as EV maker's lack of labor union distractions may be emboldening investors. Tesla Inc.'s bulls finally succeeded on Monday, after multiple attempts over nearly two weeks, to get the electric-vehicle giant's stock past upside technical resistance and into fresh bull-market territory.A couple of bullish fundamental catalysts, like an analyst upgrade and a labor battle that Tesla's rivals are facing, helped bulls get the stock over the line.The technical set up was, after closing at a 10-month high of $293.34 on July 18, the stock tumbled 26.5% to a 2 1/2-month closing low of $215.49 on Aug. 18. Many on Wall Street believe a bear market is defined by a decline of at least 20% from a significant bull-market high.The stock, which was on track for its best one-day performance since it climbed 11.0% on Jan. 27, was trading 26.6% above the Aug. 18 bear-market low.Tesla's stock, which paced the S&P 500 index's SPX gainers on Monday, has rallied
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