Key support at $251 holds firm despite apparent early break
Tesla's upper Bollinger Band® is at $269 which indicates a further downward move may follow.

Though in the midst of a 15 day uptrend, gaining a total of 40.4%, ($75.81), The prevailing bullish trend is beginning to fade following yesterday's downbeat session. An influx of sellers pushed Elon Musk's EV company to end the session lower around $256.79, while establishing a $250.5 to $261.56 session range yesterday.

The stock has been trending positively for about a month. The trendy EV maker is up 139.32% from the significant low of $108.1 it hit 5 months ago.

A study of Tesla's chart reveals various key levels to watch: Tesla bounced after reaching the $251 support zone, climbing $5.79 above it. Trend-focused traders would be interested to note that investors are seeking long positions as Tesla price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to momentum evaluation, the Relative Strength Index indicates Tesla is in a strong overbought condition. Analysis based on the asset volatility indicates that Tesla's upper Bollinger Band® is at $269 which indicates a further downward move may follow.

Notwithstanding Tesla's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

Fundamental indicators – United States Interest Rate released yesterday at 18:00 UTC with a figure of 5.25, while the previous figure was 5.25.

Tesla was not the only decliner in the consumer discretionary sector; Walt Disney lost 1.49% yesterday and closed at $92.45.

On the other hand, positive performances could be seen by looking at other consumer discretionary stocks as Toyota was up 4.74%. Nike traded at $112.86 after closing yesterday's trading day at $106.78 (up 5.69%).

Upcoming fundamentals: United States Retail Sales projected to come out at -0.1% — worse than previous data of 0.4%; data will be released today at 12:30 UTC.