Semis Underperfomed the S&P 500 :WFR, RBCN, MU

Published on Monday, 02 July 2012 16:51 Written by Christopher Lynn

New York, July 2nd (TradersHuddle.com) - The Philadelphia Semiconductor Index traded lower at $384.78, representing -0.18% from its previous close. The semiconductor index had an overall mixed day with 12 index components trading higher.

MEMC Electronic Materials (NYSE:WFR) was the top performer of the semis, as it traded at $2.55, which represents 17.28%. from the previous trading session. Shares of MEMC Electronic Materials, the silicon wafers producer have defined support at $2.02 and resistance at $2.17.

Rubicon Technology (NASDAQ:RBCN) was also among the top performers, closing the trading session at $10.64 representing 4.31% from its previous close. Rubicon Technology, the high-quality sapphire substrates and optical windows has calculated support and resistance levels at $9.35 and $10.04 respectively. The other top performer of the semis was Micron Technology (NASDAQ:MU), which traded at $6.47 representing 2.54% from the previous trading session.

The semis' worst performers include Cirrus Logic (NASDAQ:CRUS) that traded at $28.38 or -4.92% from the previous close. 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 $27.92 and resistance at $31.23. Also among the worst performers was Cree (NASDAQ:CREE), which closed at $24.8 representing -3.39% from the previous trading session.

Today, the semis underperformed the broad market index S&P 500.