Let the hype begin for Tesla’s Model X, the electric crossover vehicle slated for launch in 2014.  Some might say it’s a bit early to begin showcasing the prototype vehicle when the Model S is still months away from hitting the streets, but Musk is driven to prove doubters wrong and never shies away from delivering a big press event.  Musk summed up a description of the vehicle with bravado saying, “We’ve created a car that has more functionality than a minivan, more style than an SUV and more performance than a Porsche 911 Carrera.”

Sounds like quite a car and by the looks of it, it is.  The vehicle features a big 17″ touchscreen in the console, seating for 7, fly away rear doors and that Porsche like acceleration.  Performance specs in terms of mileage haven’t been released but most expect it to underperform the Model S sedan due to its heavier weight.  Add seven adults and you may just having some difficult getting to the first charging station!  Pricing hasn’t been released either, but expect it to be a bit pricier than the Model S which would likely push it above $100k with most of the options in place.

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Technically, shares of TSLA have been on a wild ride in recent weeks.  You might remember the big plunge after the departure of two key engineers.  Most analysts believed the fears were overblown and shares recovered immediately and are up about 50% off those lows.  Expect some kind of pull back/consolidation off that move back to what is key support around the $28 – $29 range.  Should that move occur, that would be a much better place to initiate a position or add to a position.  I would expect that shares would eventually retest and possibly clear all time highs around the $35 level heading into the launch of the Model S later this year.