SanDisk - Top Performing Semiconductor - Mid-Day Update

Published on Thursday, 01 November 2012 11:52 Written by Danny Miller

New York, November 1st (TradersHuddle.com) - The Philadelphia Semiconductor Index is trading higher at $374.89, representing 2.14% from its previous close. The semiconductor index is having a broad rally with 27 index components trading higher.

SanDisk (NASDAQ:SNDK) is the top performer of the semis, trading at $43.5, which represents 4.12%. from the previous trading session. Shares of SanDisk, the provider of flash data storage products have defined support at $42.71 and resistance at $46.84.

Micron Technology (NASDAQ:MU) is also among the top performers, currently trading at $5.64 representing 3.96% from its previous close. Micron Technology, the dynamic random access memory chips maker has calculated support and resistance levels at $5.16 and $5.71 respectively. The other top performer of the semis is Teradyne (NYSE:TER), which is trading at $15.14 representing 3.52% from the previous trading session.

The semis' worst performers include Cirrus Logic (NASDAQ:CRUS) that is trading at $35.07 or -14% 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 $37.89 and resistance at $41.34. Also among the worst performers is MEMC Electronic Materials (NYSE:WFR), which is currently trading at $2.47 representing -1.98% from the previous trading session.

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