Semis Outperfoming the S&P 500 :SNDK, MU, LRCX

Published on Tuesday, 05 June 2012 11:52 Written by Christian Paolinetti

New York, June 5th (TradersHuddle.com) - The Philadelphia Semiconductor Index is trading higher at $356.92, representing 1.2% from its previous close. The semiconductor index is having a broad rally with 27 index components trading higher.

SanDisk (NASDAQ:SNDK) is the top performer of the semis, trading at $33.14, which represents 4.67%. from the previous trading session. Shares of SanDisk, the provider of flash data storage products have defined support at $30.99 and resistance at $34.69.

Micron Technology (NASDAQ:MU) is also among the top performers, currently trading at $5.54 representing 2.78% from its previous close. Micron Technology, the dynamic random access memory chips maker has calculated support and resistance levels at $5.59 and $6.15 respectively. The other top performer of the semis is Lam Research (NASDAQ:LRCX), which is trading at $36.88 representing 2.47% from the previous trading session.

The semis' worst performers include MEMC Electronic Materials (NYSE:WFR) that is trading at $1.59 or -7.56% 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 Veeco Instruments (NASDAQ:VECO), which is currently trading at $33.24 representing -0.48% from the previous trading session.

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