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

Published on Thursday, 30 August 2012 11:52 Written by Christian Paolinetti

New York, August 30th (TradersHuddle.com) - The Philadelphia Semiconductor Index is trading lower at $391.28, representing -1.54% from its previous close. The semiconductor index is tumbling with 23 index components on the negative side.

Marvell (NASDAQ:MRVL) is the top performer of the semis, trading at $10.48, which represents 1.85%. from the previous trading session. Shares of Marvell, the maker of integrated circuits for communications-related markets have defined support at $10.30 and resistance at $12.33.

NVIDIA (NASDAQ:NVDA) is also among the top performers, currently trading at $14.32 representing 0.21% from its previous close. NVIDIA, the world leader in visual computing technologies has calculated support and resistance levels at $14.21 and $15.22 respectively. The other top performer of the semis is Micron Technology (NASDAQ:MU), which is trading at $6.2 representing 0% from the previous trading session.

The semis' worst performers include MEMC Electronic Materials (NYSE:WFR) that is trading at $2.74 or -2.84% from the previous close. Shares of MEMC Electronic Materials, the silicon wafers producer have defined support at $2.70 and resistance at $2.93. Also among the worst performers is KLA-Tencor (NASDAQ:KLAC), which is currently trading at $51.01 representing -2.35% from the previous trading session.

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