Novellus Systems - Top Performer Semiconductor

Published on Tuesday, 24 January 2012 16:51 Written by Danny Miller

New York, January 24th (TradersHuddle.com) - The Philadelphia Semiconductor Index traded higher at $414.54, representing 0.35% from its previous close. The semiconductor index exhibited strong upside with 19 index components on the plus side.

Novellus Systems (NASDAQ:NVLS) was the top performer of the semis, as it traded at $47.87, which represents 2.9%. from the previous trading session. Shares of Novellus Systems, the equipment maker used for chips manufacturing have defined support at $34.59 and resistance at $47.57.

Lam Research (NASDAQ:LRCX) was also among the top performers, closing the trading session at $43.35 representing 2.87% from its previous close. Lam Research, the maker of semiconductor processing equipment has calculated support and resistance levels at $34.81 and $43.06 respectively. The other top performer of the semis was NVIDIA (NASDAQ:NVDA), which traded at $14.98 representing 2.53% from the previous trading session.

The semis' worst performers include Rubicon Technology (NASDAQ:RBCN) that traded at $12.2 or -7.65% from the previous close. Shares of Rubicon Technology, the high-quality sapphire substrates and optical windows have defined support at $9.11 and resistance at $11.86. Also among the worst performers was STMicroelectronics (NYSE:STM), which closed at $6.84 representing -5.26% from the previous trading session.

Today, the semis outperformed the broad market index S&P 500.