Breaking: Fortress Biotech Inc (NASDAQ:FBIO) Stock Through Resistance -- Technicals Hit Extreme Strength

Fortress Biotech Inc technical rating as of
(FBIO Price of Stock at Publication: $3.9)

Breaking: Fortress Biotech Inc (NASDAQ:FBIO) has hit maximum technical strength -- watch the technical oscillators for momentum gaps. The company has broken out to a five bull momentum rating -- that is extreme strength and through technical resistance.

The risk now is that the stock is overbought, but as of this moment, the price is moving abruptly higher, through resistance, and the bulls are leading the charge.

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Breaking: The 15.73% change in stock price for FBIO on the day has a substantial impact on the technical rating when it was published.

FBIO is up +39.8% over the last three months and up +34.0% over the last six months. The stock price is up +17.8% over the last year. The current stock price is $3.9.

FBIO Stock Returns
The technical rating goes from a rating of one, the weakest upside technical, to a rating of five, the highest upside technical. This is strictly focusing on price and technical -- that means we focus on real-time stock price movement and then position it relative to the simple moving averages. To make the technical rating meaningful, the moving averages are also compared to each other.

If you're looking for the simplest version of this, here it is -- when the short-term moving averages are above the long-term moving averages that indicates relative strength in the technical. Then see the current price relative to the highest moving average and you will have a "back of the envelope" technical indicator in your back pocket for any stock at any time.

The blending and weighting of numbers above created the technical model built by Capital Market Laboratories ( Note the stock price at publication ($3.9), since the technical rating is based on intraday stock prices.

Technicals   |   Support: 3.43   |   Resistance: 3.91   

Golden Cross Alert: The 50 day MA is now above the 200 day moving average.
As we noted above -- the back of the envelope rule here is that when shorter-term moving averages move above the longer-term ones, momentum is building. We have that right now.

Fortress Biotech Inc's 15.73% rise today is critical to its technical outlook.

Swing Golden Cross Alert: The short-term 10 day moving average is now above the 50 day moving average.
When the shortest-term moving average (10-day in this case) moves above any other moving average (50-day in this case), momentum is climbing.

This is where pivot points reign: Fortress Biotech Inc has a five bull (top rated) technical rating because it's trading above its 10-, 50-and 200- day simple moving averages and the stock is up 15.73% on the day the day.

We now turn to the actual numbers driving this rating:
Fortress Biotech Inc (NASDAQ:FBIO) rating statistics:
10-day moving average: $3.65
50-day moving average: $3.09
200-day moving average: $2.77