Tesla Inc. (NASDAQ: TSLA) shares have been consolidating ahead of the company's July 22 Q2 earnings report, with the stock's recent range continuing to narrow. That kind of price-action tightening is often a sign that the market is firmly in wait-and-see mode.
However, Tesla recently delivered a surprisingly strong data point that might just swing the balance in favor of the bulls. Earlier this month, the company reported record quarterly deliveries of 480,126 vehicles, beating consensus estimates by 18%. Just as importantly, deliveries outpaced production, a sign that inventory levels are healthy heading into the report rather than being propped up by discounting or channel stuffing.
