Fortress Biotech Inc (NASDAQ:FBIO) Stock Technicals Hit Strength
(FBIO Stock Price as of Publication: $2.94)
This is a technical analysis stock rating for Fortress Biotech Inc (NASDAQ:FBIO) . The company has a four bull technical rating which indicates some strength. The risk here is a potentially overbought situation, but for now, the stock price is moving slightly higher and does have room to rise before it hits an overbought technical rating of five bulls.
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FBIO is up +9.3% over the last three months and up +6.9% over the last six months. The stock has returned -0.7% over the last year. The current stock price is $2.94.
FBIO Stock Returns
Note the stock price at publication ($2.94), since the technical rating is based on intraday stock prices.
Technicals | Support: 2.67 | Resistance: 2.96
Death Cross Alert: The 50 day moving average is now below the 200 day moving average.
Swing Golden Cross Alert: The short-term 10 day moving average is now above the 50 day moving average.
Fortress Biotech Inc has a four bull (high rated) technical rating because the stock is trading above its 10-, 50-and 200- day simple moving averages and even though the stock is down on the day, the 10 day moving average is above the 50 day moving average (also called a "swing golden cross").
The general theory behind ratings follows the line of thought that as stock prices rise or fall abruptly, they appear on various scan results and that creates a reinforcing trend for the stock price in a direction. It's a mix of art and science, but for the technically focused trader it can be a powerful input to the overall analysis.
Fortress Biotech Inc (NASDAQ:FBIO) rating statistics:
10-day moving average: $2.81
50-day moving average: $2.53
200-day moving average: $2.67