Intel Takes a Hit By Broadcom Takeover Rumours
After the Wall St. Journal broke the news that Intel could be putting in a bid for Broadcom has reduced the immediate prospects of Intel as it would swallow up a good chunk of capital.
Intel has shown a low of 50.46 at time of writing.
On the 4hr charts it has now broken the upward trend and could bounce once again off the main pivot point, as still showing over bought signals on the Stochtastics.
We currently have an order at 50.8 and a take profit of 53.