Bell Microproducts Inc.Scales To A New Height

Bell Microproducts Inc. (NASDAQ: BELM) climbed 28.45% to $6.91, after rising to $6.92 earlier, the highest intraday price mopped up over the past two and a half years. Avnet Inc. (NYSE: AVT), the U.S. distributor of electronic parts agreed to buy small-cap Bell Microproducts Inc. (BELM) for $252 million, or $7 a share in cash to expand its reach in storage and computing products.

With this, Bell Microproducts Inc. (BELM) continues to build up on its higher top and higher bottom pattern to scale higher levels. There are chances that Bell Microproducts Inc. (BELM) may continue to move into a new breakout orbit up to $7.50, before feeling selling pressure.