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3 Momentum Stocks That Have Fallen Into Bear Markets

While stocks are bouncing back today, these three big-name companies are in the midst of broader breakdowns

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Bear Market Momentum Stocks: Tesla Motors (TSLA)

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Tesla Motors (TSLA), everyone’s favorite electric-car maker, is down nearly 27% from its late February peak and has been diving toward its 200-day moving average — a level that hasn’t been breached since September 2012.

Excitement in TSLA has been driven by a number of things, such as an eventual release of the more affordable Model E, or the much-vaunted plans for the Gigafactory — the jumbo-sized battery factory that Tesla estimates by 2020 will exceed 2013 global battery production.

TSLA stock at one point boasted 684% returns within the past year, but it’s all unraveling now. Even in the midst of a small short-term rebound, Tesla still appears to be succumbing to its worst breakdown since last November.

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Article printed from InvestorPlace Media,

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