Cree - Top Performing Semiconductor - Mid-Day Update

Published on Thursday, 16 February 2012 11:52 Written by Gerard Lerod

New York, February 16th (TradersHuddle.com) - The Philadelphia Semiconductor Index is trading higher at $428.9, representing 0.8% from its previous close. The semiconductor index is having a broad rally with 24 index components trading higher.

Cree (NASDAQ:CREE) is the top performer of the semis, trading at $29.23, which represents 3.26%. 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 $26.71 and resistance at $29.99.

Xilinx (NASDAQ:XLNX) is also among the top performers, currently trading at $37.26 representing 2.22% from its previous close. Xilinx, the advanced integrated circuits maker has calculated support and resistance levels at $30.56 and $36.93 respectively. The other top performer of the semis is Hittite Microwave (NASDAQ:HITT), which is trading at $56.64 representing 2.05% from the previous trading session.

The semis' worst performers include NVIDIA (NASDAQ:NVDA) that is trading at $15.51 or -4.08% from the previous close. Shares of NVIDIA, the world leader in visual computing technologies have defined support at $13.50 and resistance at $16.62. Also among the worst performers is SanDisk (NASDAQ:SNDK), which is currently trading at $47.12 representing -1.17% from the previous trading session.

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