Twitter Finally Breaks Out Of Its Doldrums

shares were trading higher by $2.39 (5 percent) at $50.85 in Tuesday's session. The only relevant news out on the issue is the company has come up with a

designed to combat bullies in the Twittersphere. Since the fundamentals may not be the catalyst behind the explosive rally, the technicals may explain today's price action. Twitter, which has met or beat Wall Street's expectations for earnings since its inception, has been digesting its latest beat for over the past month. After leaping from its February 5 closing price to $48.01 the following session, the issue has been in a well-defined trading range. That trading has been between $45.13 and $50.01, with a majority of the trading action occurring between $46.00 and $48.00. Now that is has cleared the upper end of the trading range, it is difficult to determine when the rally will end or even take a breather. Shorter-term, there may be some minor resistance at its October 22 high ($51.84). Longer-term, there may be some major resistance at the pair of highs from October 9 ($55.99) and October 10 $(55.66).