Earlier this week, Honda Motor and Nissan confirmed they are in talks about a possible merger at time of auto industry upheaval. Toyota stock cleared a key level on Friday. Honda stock rallied further above a technical level,

Japanese automakers Nissan and Honda have announced plans for a merger that would catapult them to a top position in an industry that's in flux as it transitions away from its reliance on fossil fuels.

Japan’s second- and third-largest automakers hope the $50 billion deal would help them catch up with Tesla and China’s BYD in electric vehicles and advanced software.