INTC, ALTR - soaring into the weekend

Whilst the main market saw very subdued chop into the weekend, there was some closing hour drama in tech land. Intel (INTC) is rumoured to be buying Altera (ALTR) which settled the day higher by 6.5% and 27.6% respectively.


INTC, daily

ALTR, daily

Summary

*a good example of some closing hour drama...

INTC, 5min

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As for the likely deal... INTC looks like it is now very eager to grow. The market was delighted with the news.. and the net daily gains in INTC were pretty unusual for the company that is set to launch an official bid next week.
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INTC, monthly

Broadly.. I am seeking the $50s... eventually. On no reasonable outlook can I see INTC falling back under the breakout zone of $25.