Techwell Inc. (TWLL) Moves Into A New Breakout Zone

Chipmaker Intersil Corp (NASDAQ: ISIL) said it agreed to acquire Techwell Inc (NASDAQ: TWLL) for about $370 million, or $18.50 per share, to expand in the high-growth security auto surveillance and infotainment markets. Techwell Inc. (TWLL), which makes chips that are used to convert analog video signals to digital form, soared 47.87% to $18.40, following the buyout deal.

Techwell Inc. (TWLL) moved to a new 52 week high with very strong volumes by early afternoon trading on Monday. The same confirms that Techwell Inc. (TWLL) is now in a new breakout zone on charts, and could even test immediate resistance levels of $20.