Price action is gradually approaching a key resistance hurdle at $224.64
Upper Bollinger Band® currently at $226.97

Tesla has posted further gains as part of a 9 day trend that has already seen the stock gain $34.71. On-trend Tesla closed the session yesterday with more of the same: Tesla ended Monday at $217.61. yesterday it went up to $221.9 only to drop back, yet still managed to close at $221.31.

The stock has been trending positively for about a month. This year has been a bright one for Elon Musk's EV company after trading as low as $108.1 and going on to appreciate by 108.44% year to date.

Technical chart analysis shows Tesla could be slowing down soon; it is getting close to the resistance line and is now at $224.64, only $3.33 away. Crossing the resistance line could, however, suggest that further gains are ahead. Trend-following investors 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. According to asset volatility analysis, Tesla's upper Bollinger Band® is at $226.97, this is a slight indication of a slowdown.

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

Fundamental indicators – United States Trade Balance (Apr) came out at -74.6 billion, while a consensus of analysts was expecting -75.2 billion.

A look at other consumer discretionary stocks also showed bullish price action as Toyota was up 1.89%. Alibaba traded at $86.7 after closing yesterday's trading day at $84.4 (up 2.73%).

While Tesla was bullish yesterday, the following consumer discretionary stocks underperformed: McDonald's closed at $284.54 (down 1.35%).

Upcoming fundamentals: United States Crude Oil Inventories projected to decline to 1 million while previous data was 4.49 million; data will be released today at 14:30 UTC.