Tesla Continues March Toward New All-Time Highs

Tesla Inc TSLA shares are trading higher by $8.00 at $277.23 in Monday's session.

There is no specific news on the issue to account for the rally. The issue has now traded higher in its six of its last eight sessions, with the two outliers being fractional losses.

After a higher open, it found support just under the upper-range of Friday's session ($270.95), reaching $270.51 before continuing its move higher. So far, the ensuing rally has taken the issue to $278.68, but has backed off that level.

That high exceeds its July 21, 2015 high ($273.50) , but is shy of its July 20 high ($286.65). The all-time high for the issue was made in September 2014 at $291.42.

Update: The stock closed at $280.60, up 4.2 percent or $11.37 per share on the day.