Is Twitter Stock TWTR About to Break Out?

Since the initial peak after its IPO in 2013, shares of Twitter have been trending lower, well-defined by a series of lower highs. Over the last few months, however, shares were able to stabilize and put in their first lower high since the lows last Spring. This has now given Twitter the appearance of more of a large sideways consolidation, rather than the downtrend that we just pointed out.
Here is a daily candlestick chart of $TWTR. What stands out to me here is how after the gap higher in shares early last month, prices have remained up here near the downtrend line from December 2013, rather than correcting to the downside from this resistance level. To me, this is always the more healthy way to consolidate gains:

I’ve been arguing that the longer shares remain up here near this downtrend line, the higher the likelihood that we break out. I think this would be a very bullish development if prices resolve themselves to the upside above the upper of these two converging trendlines, especially with what is now an upward sloping 200 day moving average (red line).  (more)
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