Sector Wrap - Semis Higher: WFR, STM, HITT

Published on Friday, 27 July 2012 16:51 Written by Christian Paolinetti

New York, July 27th (TradersHuddle.com) - The Philadelphia Semiconductor Index traded higher at $384.26, representing 2.32% from its previous close. The semiconductor index had a broad rally with 27 index components trading higher.

MEMC Electronic Materials (NYSE:WFR) was the top performer of the semis, as it traded at $1.9, which represents 11.76%. from the previous trading session. Shares of MEMC Electronic Materials, the silicon wafers producer have defined support at $1.90 and resistance at $2.69.

STMicroelectronics (NYSE:STM) was also among the top performers, closing the trading session at $5.26 representing 5.41% from its previous close. STMicroelectronics, the semiconductor integrated circuits and discrete devices maker has calculated support and resistance levels at $4.51 and $5.16 respectively. The other top performer of the semis was Hittite Microwave (NASDAQ:HITT), which traded at $50.19 representing 4.58% from the previous trading session.

The semis' worst performers include Rubicon Technology (NASDAQ:RBCN) that traded at $9.54 or -2.55% from the previous close. Shares of Rubicon Technology, the high-quality sapphire substrates and optical windows have defined support at $9.45 and resistance at $10.97. Also among the worst performers was Lam Research (NASDAQ:LRCX), which closed at $33.98 representing -1.13% from the previous trading session.

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