Tesla Inc.'s stock TSLA, +6.54% surged 6.4% in afternoon trade Thursday, to extend a three-day rally that has been strong enough to kick off a new bull market. The stock has now rallied 20.9% since it closed Monday at $252.48, which was the lowest close since March 21, 2017. Many chart watchers say a new bull market begins after a rise of 20% or more off a bear market low. Tesla's stock has been in a bear market since Nov. 2, 2017, when it first closed more than 20% below its Sept. 18, 2017 record close of $385.00. Although the stock had bounced sharply since it entered the bear market, the Feb. 26, 2018 peak of $357.42 was just 19.4% above the Nov. 2 closing low of $299.26. Monday's close was 34.4% below the record high. Tesla's stock has now lost 2.0% year to date, while the S&P 500 SPX, +0.69% has slipped 0.2%.
Read the full story: Tesla’s stock enters bull-market territory, and a ‘big band’ of chart resistance