Tesla hones in on key resistance at $253.45

• Price action is gradually approaching a key resistance hurdle at $253.45

An influx of buyers helped the trendy EV maker to end the session higher around $250.21, while establishing a $240.85 to $250.39 session range yesterday.

This year has been a bright one for the trendy EV maker after trading as low as $108.1 and going on to appreciate by 143.63% year to date.

Analysis of Tesla's recent price action suggests Tesla could be slowing down soon; it is getting close to the resistance line and is now at $253.45, only $3.24 away. Crossing the resistance line could, however, suggest that further gains are ahead.

Fundamental indicators – United States New Home Sales (May) came out at 763,000, while a consensus of analysts was expecting 675,000.

This rally in Tesla's share price coincided with other consumer discretionary stocks as Toyota was up 1.7%. Lowe's gained 2.57%, as it traded at $223.56. Nike added 1.67% to its value, and traded at $113.61.

Upcoming fundamentals: United States Crude Oil Inventories is projected to outperform its last figure with 1.42 million. It previously stood at -3.83 million; data will be released today at 14:30 UTC.