Twitter Breaking Out To The Upside

Shares of Twitter TWTR are breaking out to the upside Tuesday, finally clearing the $46.30 level that was technical resistance.

Twitter is trading at its highest level since July 30, the day after its latest earnings announcement. The intra-day high on July 30 was $48, which is the next level of technical resistance.

Option activity is brisk in Twitter, with the upside August weekly calls seeing some heavy volume. The $47 and $48 strike calls have both traded more than 5,000 contracts so far Tuesday, both exceeding the previous open interest.

Shares of Twitter traded recently at $47.00, up 1.9 percent.