SanDisk - Top Performing Semiconductor - Mid-Day Update

Published on Wednesday, 30 May 2012 11:52 Written by Gerard Lerod

New York, May 30th (TradersHuddle.com) - The Philadelphia Semiconductor Index is trading lower at $372.01, representing -2.01% from its previous close. The semiconductor index is tumbling with 25 index components on the negative side.

SanDisk (NASDAQ:SNDK) is the top performer of the semis, trading at $34.45, which represents 2.13%. from the previous trading session. Shares of SanDisk, the provider of flash data storage products have defined support at $31.34 and resistance at $33.07.

Veeco Instruments (NASDAQ:VECO) is also among the top performers, currently trading at $34.6 representing 0.52% from its previous close. Veeco Instruments, the provider of process equipment solutions has calculated support and resistance levels at $32.52 and $37.87 respectively. The other top performer of the semis is (), which is trading at $50 representing 0% from the previous trading session.

The semis' worst performers include MEMC Electronic Materials (NYSE:WFR) that is trading at $1.64 or -3.25% from the previous close. Shares of MEMC Electronic Materials, the silicon wafers producer have defined support at $1.53 and resistance at $3.77. Also among the worst performers is Micron Technology (NASDAQ:MU), which is currently trading at $5.93 representing -3.14% from the previous trading session.

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