Sector Mid-Day Wrap - Semis Higher: WFR, RBCN, XLNX

Published on Wednesday, 11 April 2012 11:52 Written by Danny Miller

New York, April 11th (TradersHuddle.com) - The Philadelphia Semiconductor Index is trading higher at $419.14, representing 2.32% from its previous close. The semiconductor index is having a broad rally with 24 index components trading higher.

MEMC Electronic Materials (NYSE:WFR) is the top performer of the semis, trading at $3.67, which represents 9.88%. from the previous trading session. Shares of MEMC Electronic Materials, the silicon wafers producer have defined support at $3.55 and resistance at $4.00.

Rubicon Technology (NASDAQ:RBCN) is also among the top performers, currently trading at $9.43 representing 2.72% from its previous close. Rubicon Technology, the high-quality sapphire substrates and optical windows has calculated support and resistance levels at $8.91 and $11.59 respectively. The other top performer of the semis is Xilinx (NASDAQ:XLNX), which is trading at $35.68 representing 2.38% from the previous trading session.

The semis' worst performers include Advanced Micro Devices (NYSE:AMD) that is trading at $7.53 or -2.84% from the previous close. Shares of Advanced Micro Devices, the second largest chipmaker in the world have defined support at $7.60 and resistance at $8.35. Also among the worst performers is Broadcom (NASDAQ:BRCM), which is currently trading at $35.93 representing -2.44% from the previous trading session.

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