Tesla, First Solar and Tapestry were the top three S&P 500 index gainers on the stock market today.
Regeneron Pharmaceuticals, Moody's and Ross Stores were the S&P 500's biggest losers on Monday.
Tesla rallied 4.9% to 250, moving toward a 271 cup-base buy point. Shares last week cleared a 235 early entry, but are now slightly extended from that. TSLA stock is now slightly higher in 2024, after being one of the S&P 500's biggest losers earlier in the year.
Optimism is building for solid third-quarter deliveries, while there's excitement over what Tesla will reveal at its Oct. 10 robotaxi event.
First Solar stock gained 3.8% to 249.28. The solar power giant is trying to build the right side of a base with a 306.77 buy point. Investors could use last week's high of 251.67 as an aggressive entry.
Tapestry stock rose 3.6% to 44.12. Shares are closing in on a 44.63 buy point on a double-bottom base going back seven months, according to MarketSmith analysis. But Tapestry, which owns Coach and Kate Spade has been in a range going back to May 2021. Tapestry is trying to buy Capri Holdings, which owns Michael Kors, Jimmy Choo and Versace.
Why This IBD Tool Simplifies The Search For Top Stocks
S&P 500 Losers
Regeneron stock slumped 4.6% to 1,091.98 in heavy volume after a judge unexpectedly rejected an injunction to keep Amgen from launching a biosimilar copycat of its blockbuster eye drug Eylea. REGN stock knifed decisively below its 50-day line.
Moody's stock sank 3.2% to 479, slightly undercutting its 21-day line. But that's after MCO stock hit a record high on Friday.
Ross Stores stock shed 2.8% to 149.98, dropping back below a 153.06 flat-base buy point and its 21-day line. ROST stock could be in the process of forging a new flat base.
Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.
