In a welcome move, Globalfoundries saw its Relative Strength Rating rise from 67 to 73 on Wednesday.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's proprietary RS Rating tracks market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research reveals that the market's biggest winners often have an RS Rating north of 80 in the early stages of their moves. See if Globalfoundries can continue to rebound and hit that benchmark.
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Globalfoundries is not currently near a potential buy zone, as it is still trading below the 50-day line. See if the stock goes on to build a chart pattern that could kick off a new price move and raise the technical ratings even higher.
Earnings growth increased last quarter from 0% to 275%, but revenue fell from 74% to 37%.
Globalfoundries earns the No. 15 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. ON Semiconductor and CTS are also among the group's highest-rated stocks.
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