"If you look at most take over targeted companies, they fall...

"If you look at most take over targeted companies, they fall heaps and then hover around those or slightly above the lows. Then comes an offer at 50% over the share price of the day. Even the company interested in the take over will engage in pushing the price down by shorting. This is so common"

So true.

I am not a chartist so I wouldn't recognise support if it sent me flowers but to my unpractised eye, this looks like about it?