Work-ing the News
Force of the Chart
There's more than one thing going on here on this year-long chart. While one can say that the stock has been basing for 11 months, one can also point to the uptrend (illustrated in orange) present within that began once the gaps of both last August and last November had been filled.
I would normally like to place a pivot at the top of a basing pattern, but the company is about to swallow another, I don't think that would be realistic. We can always adjust later if needed. The stock is certainly not in danger of being technically overbought anytime soon.