GlobalFoundries likely to offer 'solid' Q2 results, 'strong' guidance: Wedbush
It was reported that Wedbush's analysis expects GlobalFoundries to present solid Q2 results and strong guidance.
Considering entry due to technical rebound potential from an extreme oversold condition and a sharp short‑term decline. As of the candle on 2026-08-28, the price fell to a close of 44.76, recording a recent 7‑day change of –17.1%, indicating significant downside pressure. However, in the oversold RSI range of 22.0, Wedbush’s positive earnings outlook news coincided, suggesting possible inflow of short‑term bottom‑finding buying interest, prompting an approach.
Expecting a rebound from a strong oversold condition, we will take profit when the profit‑taking target of $72.16, the output of REPORTING, is reached, and we will cut loss if the stop‑loss level of $46.39 is broken or breached.
At the entry point, technical indicators show an RSI(14) of 22.0, indicating an extremely oversold condition, while the moving averages are in a disordered arrangement. Trading volume is 1.07 times the 20‑day average, which is at a normal level, and the price change over the past seven days has been -17.1%.
Although there is no direct similarity basis, for reference to global top performance, the following cases are noted: VEEE (2026-07-16, return 451.7%), LRCX (2026-07-06, return 346.8%), and AMD (2026-07-06, return 333.8%).
At entry, based on the extremely oversold RSI of 22.0 and a recent seven‑day volatility of -17.1%, we anticipated a technical rebound; however, the position recorded a -10.5% loss and was rated FAILED. Although Wedbush issued positive earnings‑outlook news and theme‑related news rose to 270 items, showing an increasing trend, buying interest did not sufficiently enter amid a downtrend with misaligned moving averages, and the stock could not withstand additional downside pressure.
In a downtrend with a bearish alignment, I learned that even if the RSI is very low (it was 22.0 at the time), the risk of further decline remains high. Going forward, rather than entering trades based solely on oversold indicators or expectations of positive news, I will refine my criteria to more strictly confirm trend stability—such as a shift to bullish moving‑average alignment or a clear bounce off a support level.