MEMC Electronic Materials - Worst Performing Semiconductor - Mid-Day Update

Published on Friday, 20 January 2012 11:52 Written by Danny Miller

New York, January 20th (TradersHuddle.com) - The Philadelphia Semiconductor Index is trading higher at $412.67, representing 0.14% from its previous close. The semiconductor index is having an overall mixed day with 15 index components trading higher.

Cree (NASDAQ:CREE) is the top performer of the semis, trading at $26.77, which represents 3.56%. from the previous trading session. Shares of Cree, the maker of lighting-class LEDs, LED lighting, and semiconductor solutions for wireless and power applications have defined support at $22.45 and resistance at $23.92.

Advanced Micro Devices (NYSE:AMD) is also among the top performers, currently trading at $6.41 representing 3.05% from its previous close. Advanced Micro Devices, the second largest chipmaker in the world has calculated support and resistance levels at $4.82 and $5.85 respectively. The other top performer of the semis is Veeco Instruments (NASDAQ:VECO), which is trading at $26 representing 2.04% from the previous trading session.

The semis' worst performers include MEMC Electronic Materials (NYSE:WFR) that is trading at $4.47 or -4.08% from the previous close. Shares of MEMC Electronic Materials, the silicon wafers producer have defined support at $4.35 and resistance at $4.94. Also among the worst performers is Micron Technology (NASDAQ:MU), which is currently trading at $7.78 representing -1.33% from the previous trading session.

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