Technical Summary: At we love a good takeover story. Perhaps no other action has a bigger impact on a stock chart than a takeover. This is clearly visualised on the one year chart of CWN above. The stock for the last year (the last five years actually) has just been meandering along, not really bothering anyone and then bam, takeover offer. This offer caused the stock to gap from around $11.50 per share up to a closing price of above $14.00. This was short lived however and the very next trading session the news broke that the takeover deal was not going through and the stock fell back and started to consolidate at $13.00. The reason that the stock did not fall back to $11.50 is because the market is now pricing in the fact that the company might be for sale, which is something that was not being considered before.