GFS — Trading Ideas on TradingView

GlobalFoundries (GFS) gains amid TSMC challenges GlobalFoundries Inc. (NASDAQ: GFS) saw its stock climb nearly 7% on Thursday, bucking the downtrend affecting other key players in the semiconductor industry. This increase came amid potential new US restrictions on chip supplies to China, which could negatively impact major competitors like Taiwan Semiconductor Manufacturing Company Limited (TSMC) and NVIDIA Corp. These potential restrictions, stemming from the administration of US President Joe Biden, could limit TSMC and NVIDIA’s business operations in China, creating an advantageous position for GlobalFoundries. Despite having approximately half the gross margin of TSMC, GlobalFoundries might benefit significantly from these geopolitical shifts. If competitors face restrictions, GlobalFoundries could leverage the situation to raise prices and improve its margins, potentially altering its competitive standing. Technical analysis of GlobalFoundries Inc. (NASDAQ: GFS) Reviewing the stock’s current technical setup offers insights into potential trading strategies: Timeframe : Daily (D1) Current trend : the stock recently broke through the resistance level at 55.25 USD and is attempting to establish new support at 54.00 USD Resistance line : previously at 55.25 USD, now potentially acting as support Potential downtrend target : if the downtrend resumes, the downside target might be set at 49.50 USD Short-term target : If the uptrend continues, a short-term target could be set at 68.00 USD following a rebound from the new support level Medium-term target : with sustained positive momentum, the stock price might target 79.00 USD Investors should closely monitor GlobalFoundries’ performance, particularly as the geopolitical landscape evolves. The company’s ability to capitalise on restrictions its competitors face could significantly influence its market position and stock performance. — Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews. The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments. Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

GlobalFoundries Spike 9.4% as Income Nearly Doubles Expectation GlobalFoundries ( NASDAQ:GFS ) has surpassed Wall Street's first-quarter earnings targets and provided better-than-expected guidance for the current period. The Malta-based company earned an adjusted 31 cents a share on sales of $1.55 billion in the March quarter, which was 40% below analysts' expectations of 23 cents a share on sales of $1.52 billion. However, on a year-over-year basis, GlobalFoundries ( NASDAQ:GFS ) earnings declined 40% while sales fell 16%. For the current quarter, NASDAQ:GFS expects to earn an adjusted 29 cents a share on sales of $1.615 billion, based on the midpoint of its guidance. Wall Street was modeling for earnings of 29 cents a share on sales of $1.58 billion in the second quarter. In the year-earlier period, GlobalFoundries ( NASDAQ:GFS ) earned an adjusted 53 cents a share on sales of $1.845 billion. GlobalFoundries ( NASDAQ:GFS ) is navigating a cyclical downturn in business from fabless chipmakers exposed to the automotive and industrial markets. The company's Chief Executive, Thomas Caulfield, said that as pockets of the semiconductor industry begin to emerge from the inventory correction, their teams are driving foundry innovation and differentiation for customers across their essential end markets. Shares of semiconductor manufacturer GlobalFoundries ( NASDAQ:GFS ) surged after markets opened Tuesday following the release of a first-quarter earnings report that included income nearly doubling analyst expectations. However, GlobalFoundries' financial performance fell year-over-year as the semiconductor market has corrected. The company was also one of the beneficiaries of the CHIPS Act, receiving a $1.5 billion grant from the Biden administration earlier this year to expand its operations in New York and Vermont. Technical Outlook GlobalFoundries ( NASDAQ:GFS ) Stock is up 7.74% at the time of writing trading with a Relative Strength Index (RSI) of 65.47. The stock is slightly overbought.

GFS: Potential Buy Price has filled the gap from last week. I'm expecting the upside to continue towards 65 USD. Alternative entry would be around the lower trend lines if price gets there.

GFS - Could have started a third wave higher towards 75$+I bought this one yesterday with a Stop at 60.5$ If you want to get in, maybe wait for a small intraday pullback before doing so if you consider that a 6% risk is too much for you in current market conditions.