Semis Outperfoming the S&P 500 :MRVL, WFR, TSM

Published on Wednesday, 07 December 2011 11:52 Written by Christian Paolinetti

New York, December 7th (TradersHuddle.com) - The Philadelphia Semiconductor Index is trading lower at $375.92, representing -0.39% from its previous close. The semiconductor index is tumbling with 22 index components on the negative side.

Marvell (NASDAQ:MRVL) is the top performer of the semis, trading at $14.32, which represents 1.57%. from the previous trading session. Shares of Marvell, the maker of integrated circuits for communications-related markets have defined support at $13.13 and resistance at $14.47.

MEMC Electronic Materials (NYSE:WFR) is also among the top performers, currently trading at $4.19 representing 1.45% from its previous close. MEMC Electronic Materials, the silicon wafers producer has calculated support and resistance levels at $3.92 and $4.45 respectively. The other top performer of the semis is Taiwan Semiconductor (NYSE:TSM), which is trading at $13.05 representing 0.85% from the previous trading session.

The semis' worst performers include STMicroelectronics (NYSE:STM) that is trading at $6.06 or -3.04% from the previous close. Shares of STMicroelectronics, the semiconductor integrated circuits and discrete devices maker have defined support at $5.61 and resistance at $6.43. Also among the worst performers is MKS Instruments (NASDAQ:MKSI), which is currently trading at $26.99 representing -2.56% from the previous trading session.

Today, the Semis are outperforming the broad market index S&P 500.