Tesla Higher Off Model 3 News

Tesla Inc TSLA shares are trading higher by $7.50 $369.11 in Monday's session.

Before the open, Tesla CEO Elon Musk tweeted that Model 3 production is two weeks ahead of schedule and it's likely that the company can reach 20,000 Model 3 cars per month in December. That is exactly the type of news Tesla bulls want to hear.

After a higher open, Tesla had a brief retreat but found support under the upper-end of Friday's range ($366.77) at $365.50 and then continued its move higher. So far, the ensuing rally has found some intraday resistance in between Wednesday ($371.74) and Thursday ($371.00) highs, as $371.35 stands as the high for the session as of 10:00 a.m. EST.