Semis Outperfoming the S&P 500 :CRUS, MU, NVDA

Published on Monday, 18 June 2012 11:52 Written by Danny Miller

New York, June 18th (TradersHuddle.com) - The Philadelphia Semiconductor Index is trading higher at $377.56, representing 0.64% from its previous close. The semiconductor index is exhibiting strong upside with 21 index components on the plus side.

Cirrus Logic (NASDAQ:CRUS) is the top performer of the semis, trading at $29.99, which represents 3.49%. from the previous trading session. Shares of Cirrus Logic, the provider of high-precision analog and mixed-signal, and embedded processors for audio and industrial markets have defined support at $27.23 and resistance at $29.44.

Micron Technology (NASDAQ:MU) is also among the top performers, currently trading at $5.89 representing 2.35% from its previous close. Micron Technology, the dynamic random access memory chips maker has calculated support and resistance levels at $5.65 and $6.04 respectively. The other top performer of the semis is NVIDIA (NASDAQ:NVDA), which is trading at $12.29 representing 2.16% from the previous trading session.

The semis' worst performers include MEMC Electronic Materials (NYSE:WFR) that is trading at $1.97 or -1.99% from the previous close. Shares of MEMC Electronic Materials, the silicon wafers producer have defined support at $1.44 and resistance at $1.74. Also among the worst performers is Rubicon Technology (NASDAQ:RBCN), which is currently trading at $9.67 representing -1.63% from the previous trading session.

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