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

Published on Tuesday, 01 May 2012 11:52 Written by Gerard Lerod

New York, May 1st (TradersHuddle.com) - The Philadelphia Semiconductor Index is trading higher at $416.38, representing 0.72% from its previous close. The semiconductor index is exhibiting strong upside with 19 index components on the plus side.

Veeco Instruments (NASDAQ:VECO) is the top performer of the semis, trading at $34.89, which represents 15.57%. from the previous trading session. Shares of Veeco Instruments, the provider of process equipment solutions have defined support at $26.50 and resistance at $29.79.

Rubicon Technology (NASDAQ:RBCN) is also among the top performers, currently trading at $10.33 representing 9.31% from its previous close. Rubicon Technology, the high-quality sapphire substrates and optical windows has calculated support and resistance levels at $9.10 and $9.99 respectively. The other top performer of the semis is MEMC Electronic Materials (NYSE:WFR), which is trading at $3.73 representing 3.9% from the previous trading session.

The semis' worst performers include SanDisk (NASDAQ:SNDK) that is trading at $36.51 or -1.32% from the previous close. Shares of SanDisk, the provider of flash data storage products have defined support at $34.34 and resistance at $38.29. Also among the worst performers is Micron Technology (NASDAQ:MU), which is currently trading at $6.53 representing -0.91% from the previous trading session.

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