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.

Facing extreme competitive pressure from the rise of Chinese EV makers, the Nos. 2 and 3 Japanese automakers turn to each other to build strength.