Is Twitter Finally Over $50 For Good?

Twitter Inc.

shares are trading higher by $1.15 at $51.04 in Tuesday's session. The rally may be a delayed response to MKM Partners favorable comments made yesterday. The firm cited positive initial responses to new user experience survey may be point towards stronger user growth in the future. The issue has been testing the patience of break out and momentum traders as of late. Five trading session ago, it cleared the major resistance at $50 to close at $51.47 on March 24. However, the next day it gave much of the gains back and closed under $50.00 at $49.50. After three days of closes near the $50 level, Twitter is distancing itself from that area in today's session. Shortly after the opening bell it found support at $49.54 and has not only rallied above $50, but above $51.00 as well, reaching $51.24 so far in today's session. If the rally continues, traders will be focusing on the pair of high from March 24 ($51.79) and March 25 ($51.87) to determine if the recent move above $50 will continue.