- $13.87 is Tesla's largest daily jump in 3 weeks.
- Price action oscillating around key resistance at $185.22
Tesla is on a 6 day bullish run gaining $12.96 (16%). Yesterday's session pointed in the same direction — pronounced bullish sentiment in the market helped the trendy EV maker to make a notable 7.67% gain yesterday, rising $13.87 and ultimately closing at $194.7.
Having set a significant high of $399.93 10 days ago, the trendy EV maker is trading 7.72% lower.
Tesla made an initial breakout above its 21 day Simple Moving Average at $193.21, a potential indicator of a newly emerging bullish phase. Despite this, Tesla broke through the $185.22 resistance and climbed $9.48 above it.
Overall, looking at the technical analysis landscape, it seems Tesla might continue pointing upwards in the short term.
Fundamental indicators – following a previous reading of -3.69 million, Crude Oil Inventories in United States released yesterday at 15:30 UTC fell short of the -2.76 million figure expected by analysts with an actual reading of -12.58 million.
A look at other consumer discretionary stocks also showed bullish price action as Alibaba gained 9.64%, as it traded at $87.56. Amazon traded at $96.54 after closing yesterday's trading day at $92.42 (up 4.46%). Walt Disney was up 3.36%.
Upcoming fundamentals: United States Core PCE Price Index (MoM) (Oct) scheduled to come out today at 13:30 UTC.