Toshiba shares hiked 7% as rumours about a potential buyout intensify.

On Thursday Toshiba’s shares hiked 7% as rumours of a potential buyout spark interest amongst investors. From a technical overview, the company’s share price currently sits at ¥5,510. Towards the upside, resistance sits at ¥5,851 followed by a major resistance level at ¥5,937 (just below the upper green trendline). A break above the major resistance level could see the stock reach its all-time high. However, towards the downside, the first line of support sits at ¥4,990 followed by further support at ¥4,906. A break below the ¥4,906 support level could see the share price slide towards the major support at ¥4,644. Looking at the indicators, MACD is currently negative but turning positive and RSI reads 60, overall suggesting a bullish outlook. Although, it is important for investors to monitor the deal with Toshiba as failure to secure the buyout could see the stock plummet