Fortress Biotech Inc.9.375 % Cum Conv Stock Forecast

Fortress Biotech Inc.9.375 % Cum Conv stock upgraded to Buy Candidate.
(Updated on May 03, 2024)

FBIOP Signals & Forecast

The Fortress Biotech Inc.9.375 % Cum Conv stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $14.84 and $15.94. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 21.41%. Further rise is indicated until a new top pivot has been found. Fortress Biotech Inc.9.375 % Cum Conv has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Fortress Biotech Inc.9.375 % Cum Conv stock

On the downside, the stock finds support just below today's level from accumulated volume at $15.06 and $15.03. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Fortress Biotech Inc.9.375 % Cum Conv finds support just below today's level at $15.06. If this is broken, then the next support from accumulated volume will be at $15.03 and $13.13.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.301 between high and low, or 1.93%. For the last week, the stock has had daily average volatility of 4.03%.

Our recommended stop-loss: $15.32 (-3.88%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (FBIOP) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Fortress Biotech Inc.9.375 % Cum Conv Perp Red Pfd Registered Shs Series A to open at $15.84, and during the day (based on 14 day Average True Range), to move between $15.13 and $16.76, which gives a possible trading interval of +/-$0.82 (+/-5.12%) up or down from last closing price. If Fortress Biotech Inc.9.375 % Cum Conv Perp Red Pfd Registered Shs Series A takes out the full calculated possible swing range there will be an estimated 10.24% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $15.95 (0.05%) than the support at $15.06 (5.53%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Fortress Biotech Inc.9.375 % Cum Conv Perp Red Pfd Registered Shs Series A stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Fortress Biotech Inc.9.375 % Cum Conv stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.333 Buy Candidate Upgraded

Predicted Opening Price for Fortress Biotech Inc.9.375 % Cum Conv Perp Red Pfd Registered Shs Series A of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.