Strong day for Tesla fails to inspire assault on key resistance at $187.95; currently $2.05 away

• Price action backs away from resistance at $187.95 despite bullish mood
• Market bulls strengthened by lower Bollinger Band® currently at $177.09

The trendy EV maker rallied 2.97% and maintained $185.9.

Elon Musk's EV company has gained 75.73% since its lowest print of $108.1 earlier this year.

Tesla made an initial breakout above its 5 day Simple Moving Average at $184.48, a potential indicator of a newly emerging bullish phase. Tesla's lower Bollinger Band® is at $177.09, indicating that the market is oversold and fertile for new buyers. In contrast, although Tesla is appreciating today after rising as high as $186.5, price action is now slowing and consolidating around $2.05 below the $187.95 resistance level.

Overall, looking at the technical analysis landscape, it seems Tesla might continue pointing upwards in the short term.

Fundamental indicators – United States Producer Price Index fell short of the 0.1% projections, with new data of -0.5%.

This rally in Tesla's share price coincided with other consumer discretionary stocks as Amazon was up 4.67%. Walt Disney was up 2.96%. Nike traded at $126.43 after closing yesterday's trading day at $123.66 (up 2.24%).

Upcoming fundamentals: as things stand, upcoming United States Core Retail Sales data is projected to fall short of market expectations with newly published data of -0.3%, following on from the preceding figure of -0.1%. New data is set to be published today at 12:30 UTC.