Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. GlobalFoundries Inc shares valued at $188,606 were purchased by EDELMAN MARTIN L on Oct 02 ’24. At $38.76 per share, EDELMAN MARTIN L acquired 4,866 shares.
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Also, EDELMAN MARTIN L purchased 1,823 shares, netting a total of over 80,814 in proceeds.
As published in a research note from Morgan Stanley on October 28, 2024, GlobalFoundries Inc [GFS] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $43 from $53. Analysts at TD Cowen resumed the stock at ‘”a Buy”‘ outlook in a report released in early August. As of May 13, 2024, Jefferies has initiated its “Buy” rating for GFS. Earlier on April 16, 2024, Evercore ISI initiated its rating. Their recommendation was “an Outperform” for GFS stock.
Analyzing GFS Stock Performance
During the last five days, there has been a drop of approximately -5.57%. Over the course of the year, GlobalFoundries Inc shares have dropped approximately -29.46%. Shares of the company reached a 52-week high of $61.98 on 07/17/24 and a 52-week low of $35.85 on 11/04/24. A 50-day SMA is recorded $40.23, while a 200-day SMA reached $47.96. Nevertheless, trading volume fell to 2.84 million shares from 1.71 million shares the previous day.
Support And Resistance Levels for GlobalFoundries Inc (GFS)
According to the 24-hour chart, there is a support level at 41.91, which, if violated, would cause prices to drop to 41.07. In the upper region, resistance lies at 43.67. The next price resistance is at 44.59. RSI (Relative Strength Index) is 55.14 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.30, which suggests the price will increase in the coming days. Percent R is at 38.88%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
