Schneider Electric eyes bid for OSIsoft
Nicolas Suiffet June 24, 2020 6:51 PM
Schneider Electric, the energy and automation digital solutions provider, is considering making an offer for software developer OSIsoft.
Schneider Electric, the energy and automation digital solutions provider, is considering making an offer for software developer OSIsoft, which could be valued at 4 billion dollars, reported Bloomberg citing people familiar with the matter. Meanwhile, the company was downgraded to "hold" from "buy" at Deutsche Bank.
From a chartist’s point of view, the stock price remains within a bullish channel in place since March low. The 20-day and 50-day simple moving averages remain in support. However, the stock price faces a challenging resistance near 98.6E. A short term consolidation range could take place between 87E and 98.6E. Only a break below 87E would invalidate the bullish trend and would open the way to a drop towards 75E. Alternatively, a push above 98.6E would call for a quick rise towards February’s high at 105.5E.
Source: GAIN Capital, TradingView
From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.
As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.