UMS (technical)

UMS - Technicals appear Oversold with RSI and Stochastics all in Oversold territory. The next support level could be found at $0.62 (Fibonacci retracement support) followed by $0.57. Do note however that the recent decline could be attributable to its CEO dispoing 10m and 3m shares last THurs and Fri, and in addition, substantial shareholder and key customer, Applied Materials (accounts 80% of UMS' revenue) also reduced its stake in the semiconductor equipment maker by 2.9m shares on 2 and 5 Jun, at an average $0.71/share.