When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is GlobalFoundries stock, which saw a welcome improvement to its Relative Strength (RS) Rating on Monday, with an increase from 88 to 94.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's unique RS Rating tracks technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains typically have an 80 or higher RS Rating at the beginning of a new run.
Looking For Winning Stocks? Try This Simple Routine
Is GlobalFoundries Stock A Buy?
GlobalFoundries stock is carving out a double-bottom base. While the stock is not near an ideal buying range right now, see if it manages to form and break out from a proper chart pattern. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Earnings growth rose last quarter from 0% to 1,066%, but sales fell from 37% to 23%.
GlobalFoundries stock holds the No. 8 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. Analog Devices, ON Semiconductor and Tower Semiconductor are among the top 5 highly rated stocks within the group. For more industry news, check out, "Chip Stocks To Watch And Semiconductor Industry News."
