Next support is currently $2.6 away at $191.21
Lower Bollinger Band® at around $188.94

Though in the midst of a 3 day uptrend, gaining a total of 1.52%, ($6.89), Yesterday's session suggests run might be coming to an end — pronounced bearish market sentiment ensured that Elon Musk's EV company made a notable 2% loss yesterday, declining $3.98 and ultimately closing at $193.81.

After hitting an important low of $108.1 approximately 2 months ago, Elon Musk's EV company has bounced back 82.97% since.

Despite being in the red so far in the current trading session, Tesla peaked above its 3 day Simple Moving Average around $197.15 — typically an early indicator of a new bullish trend beginning to emerge. Tesla's lower Bollinger Band® is at $188.94, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Tesla could begin to recover as it approaches significant support, now $2.6 away from $191.21. Dipping below could be an indication that further losses are ahead. In contrast, a "bearish engulfing" pattern — a scenario when a larger red candle engulfs a smaller green candle, at the top of a prevailing uptrend. Typically this is a signal of lower prices in the near term.

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

Fundamental indicators – United States Factory Orders released yesterday at 15:00 UTC is better than expected at -1.6% but down from preceding data of 1.7% according to new data.

Tesla was not the only decliner in the consumer discretionary sector; Amazon went down 1.21%, closed at $94.9.

On the other hand, positive performances could be seen by looking at other consumer discretionary stocks as McDonald's was up 0.58%. Lowe's gained 0.92%, as it traded at $201.57.

Upcoming fundamentals: tomorrow at 15:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -308,000 from the preceding figure of 1.17 million.