Semis Underperfoming the S&P 500 :CRUS, AMD, VECO
Published on Tuesday, 01 January 2013 11:52 Written by Christopher Lynn
New York, January 1st (TradersHuddle.com) - The Philadelphia Semiconductor Index is trading flat at $389.49, representing 0% from its previous close. The semiconductor index is having a broad rally with 28 index components trading higher.
Cirrus Logic (NASDAQ:CRUS) is the top performer of the semis, trading at $28.97, which represents 6.86%. from the previous trading session. 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 $26.25 and resistance at $28.89.
Advanced Micro Devices (NYSE:AMD) is also among the top performers, currently trading at $2.41 representing 5.48% from its previous close. Advanced Micro Devices, the second largest chipmaker in the world has calculated support and resistance levels at $2.25 and $2.59 respectively. The other top performer of the semis is Veeco Instruments (NASDAQ:VECO), which is trading at $29.46 representing 5.1% from the previous trading session.
The semis' worst performers include Novellus Systems (NASDAQ:NVLS) that is trading at $31.54 or -0.28% from the previous close. Shares of Novellus Systems, the equipment maker used for chips manufacturing have defined support at $41.80 and resistance at $47.32. Also among the worst performers is Taiwan Semiconductor (NYSE:TSM), which is currently trading at $17.17 representing 0.2% from the previous trading session.
Today, the Semis are underperforming the broad market index S&P 500.
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