Aveva Group: in talks to buy OSIsoft

Market chart showing uptrend
Aveva Group, an IT company, confirmed that it has entered into discussions with software developer OSIsoft regarding a potential acquisition. OSIsoft would be valued at about 5 billion dollars, reported Bloomberg.

From a chartist point of view, the stock trends above a bullish trend line drawn since Mid-March and filled the bearish gap opened on March 9. The 20 and 50 days MAs are well oriented below prices. A new up leg would be expected towards next resistances at 4907 and 5350 in extension.

Source : TradingView, Gain Capital

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