Price Alert: First Connecticut Bancorp Inc (NASDAQ:FBNK) Stock Nears Resistance -- Technicals Hit Strength
(FBNK Price of Stock at Publication: $24.9)
Price Alert: First Connecticut Bancorp Inc (NASDAQ:FBNK) has now crossed into technical strength -- watch the technical oscillators for momentum gaps. The company has not quite broken out to extreme strength, but rather sits at a four bull momentum rating -- that is strength but not yet through technical resistance.
The risk here is that the stock cannot break through the approaching technical resistance which could mean the current strength could flip. But for now, the stock price is moving slightly higher and does have room to the upside before it hits a potential wall of resistance and an overbought momentum rating of five bulls.
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FBNK is up +17.7% over the last three months and up +41.5% over the last six months. The stock price is up +48.7% over the last year. The current stock price is $24.9.
FBNK Stock Returns
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 (www.CMLviz.com). Note the stock price at publication ($24.9), since the technical rating is based on intraday stock prices.
Technicals | Support: 23.3 | Resistance: 25
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.
First Connecticut Bancorp Inc's 3.75% rise today is critical to its technical outlook.
Swing Death Cross Alert: The short-term 10 day moving average is now below the 50 day moving average.
Recall that when we see the shortest-term moving average (10-day in this case) fall below any other moving average (50-day in this case), it indicates weakening momentum.
Pivot points are driving this: First Connecticut Bancorp Inc has a four bull (top rated) technical rating because, while it is trading above its 10-, 50- and 200- day simple moving averages and the stock is up 3.75% on the day the day, the 10 day moving average is now below the 50 day moving average.
We now turn to the actual numbers driving this rating:
First Connecticut Bancorp Inc (NASDAQ:FBNK) rating statistics:
10-day moving average: $23.94
50-day moving average: $24.07
200-day moving average: $20.36