Sector Mid-Day Wrap - Semis Higher: AMD, TSM, POWI

Published on Friday, 23 November 2012 11:52 Written by Gerard Lerod

New York, November 23rd (TradersHuddle.com) - The Philadelphia Semiconductor Index is trading higher at $370.4, representing 2.18% from its previous close. The semiconductor index is having a broad rally with 26 index components trading higher.

Advanced Micro Devices (NYSE:AMD) is the top performer of the semis, trading at $1.94, which represents 3.74%. from the previous trading session. Shares of Advanced Micro Devices, the second largest chipmaker in the world have defined support at $1.81 and resistance at $2.35.

Taiwan Semiconductor (NYSE:TSM) is also among the top performers, currently trading at $16.8 representing 3.32% from its previous close. Taiwan Semiconductor, the largest dedicated semiconductor foundry in the world has calculated support and resistance levels at $15.00 and $16.59 respectively. The other top performer of the semis is Power Integrations (NASDAQ:POWI), which is trading at $31.11 representing 3.32% from the previous trading session.

The semis' worst performers include MEMC Electronic Materials (NYSE:WFR) that is trading at $2.57 or -1.15% from the previous close. Shares of MEMC Electronic Materials, the silicon wafers producer have defined support at $2.15 and resistance at $2.69. Also among the worst performers is Cirrus Logic (NASDAQ:CRUS), which is currently trading at $30.9 representing -0.83% from the previous trading session.

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