NEW YORK, N.Y. – With only less than a month of trading sessions left in 2019 and the decade, the stock market continues to inch higher.
Shares in the market continue to edge higher, with Tesla (TSLA) increasing by around 130% from the record lows in June. On Thursday this week, the shares for Tesla has also reached a new record high.
The performance of Tesla shares has been impressive in recent months, but the all-time high this week is even a momentous feat, following the share’s rejection in the $380 level several times in a couple of years now.
At its current above $400 level, market players are wondering if Elon Musk’s buyout price at $420 is on the table. However, that will only be possible once the TSLA continues with its impressive momentum. Otherwise, it will start trading under pressure between the $390 and $360 range.
But, TSLA shares have always been very responsive towards the technicals.
On the other hand, General Mills (GIS) shares have tracked gains late in the week too, but the reaction of the market towards its advance has been pretty mild. Currently, the stock is trading in a tightening range with the 200-moving day average, and the uptrend support continues to push it higher, although the downtrend resistance remained a risk for the GIS to go lower.
Depending on bulls, the GIS stocks could edge up towards $55, where it had struggled to reach this year. Otherwise, the share could be looking towards the $50 level.
Further, Rite Aid (RAD) shares have also tracked a superior increase following the 1-for-20 reverse stock divided earlier in 2019. However, despite recording a 40% increase in the year on Thursday, the stock is still struggling.
Currently, it has strengthened its hold in the $10 mark. Falling below its current value would mean that share is looking towards under the 50-week moving average.
On the upside, it bulls continue to push the stock higher, it could be looking to clear the $12,50 mark, with an eventual upside target at nearly $20 for its 100-week moving average.
Medifast (MED) stocks listed in the NYSE also recorded a 10% increase following the rumors that it will possibly go private. The gains moved the shares up by over $100 with bulls looking towards even more increase, although it has become harder to trade because of the potential buyout in the works.
Should bulls continue, MED stocks could be looking towards a rally towards its 200-day moving average.