STATS ChipPAC (technical)

STATS ChipPAC: Counter sell down today from overbought area on the RSI and Stochastics. A red candle today and tomorrow may portend to a negative MACD crossover. Further, a engulfing candle which may develop if the counter closes below $0.615 today may suggest that the counter may look to test its short term (20) MA at $0.545, followed by the next support level at $0.50.