Semis Underperfoming the S&P 500 :SNDK, MU, MRVL

Published on Friday, 20 July 2012 11:52 Written by Christian Paolinetti

New York, July 20th (TradersHuddle.com) - The Philadelphia Semiconductor Index is trading lower at $368.37, representing -0.8% from its previous close. The semiconductor index is having a negative day with only 8 index components trading higher.

SanDisk (NASDAQ:SNDK) is the top performer of the semis, trading at $40.05, which represents 14.18%. from the previous trading session. Shares of SanDisk, the provider of flash data storage products have defined support at $32.08 and resistance at $37.39.

Micron Technology (NASDAQ:MU) is also among the top performers, currently trading at $5.94 representing 2.86% from its previous close. Micron Technology, the dynamic random access memory chips maker has calculated support and resistance levels at $5.68 and $6.93 respectively. The other top performer of the semis is Marvell (NASDAQ:MRVL), which is trading at $11.14 representing 2.44% from the previous trading session.

The semis' worst performers include Advanced Micro Devices (NYSE:AMD) that is trading at $4.27 or -12.24% from the previous close. Shares of Advanced Micro Devices, the second largest chipmaker in the world have defined support at $4.71 and resistance at $6.08. Also among the worst performers is STMicroelectronics (NYSE:STM), which is currently trading at $4.88 representing -3.94% from the previous trading session.

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