Fortress Biotech Inc.9.375 % Cum Conv Stock Forecast
Fortress Biotech Inc.9.375 % Cum Conv stock price ended at $16.67 on Friday, after gaining 1.96%.
(Updated on May 17, 2024)
The Fortress Biotech Inc.9.375 % Cum Conv stock price gained 1.96% on the last trading day (Friday, 17th May 2024), rising from $16.35 to $16.67. During the last trading day the stock fluctuated 4.27% from a day low at $16.17 to a day high of $16.86. The price has risen in 7 of the last 10 days and is up by 4.57% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 10 thousand shares were bought and sold for approximately $166.30 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $17.49 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Fortress Biotech Inc.9.375 % Cum Conv stock with a 90% probability to be traded between $13.12 and $17.48 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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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. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $16.32 and $15.86. 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 26.96%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Fortress Biotech Inc.9.375 % Cum Conv stock
Fortress Biotech Inc.9.375 % Cum Conv finds support from accumulated volume at $15.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.690 between high and low, or 4.27%. For the last week the stock has had daily average volatility of 4.33%.
Our recommended stop-loss: $16.09 (-3.46%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (FBIOP) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Fortress Biotech Inc.9.375 % Cum Conv Perp Red Pfd Registered Shs Series A to open at $16.57, and during the day (based on 14 day Average True Range), to move between $15.94 and $17.40, which gives a possible trading interval of +/-$0.731 (+/-4.38%) 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 8.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.74 (0.42%) than the support at $15.98 (4.14%), 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.
Earnings coming up
Fortress Biotech Inc.9.375 % Cum Conv Perp Red Pfd Registered Shs Series A will release earnings BMO on Tuesday, May 21, 2024. We will update the financials statements for Fortress Biotech Inc.9.375 % Cum Conv Perp Red Pfd Registered Shs Series A, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.34% in the first trading day after earnings release.
Is Fortress Biotech Inc.9.375 % Cum Conv Perp Red Pfd Registered Shs Series A stock A Buy?
Several short-term signals 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 period.
Current score: 2.141 Buy Candidate Unchanged
Predicted Opening Price for Fortress Biotech Inc.9.375 % Cum Conv Perp Red Pfd Registered Shs Series A of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $16.57 ( 0.620%) | $16.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FBIOP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.26 | 3.52 % | |
| R2 | 16.99 | 1.94 % | ||
| R1 | 16.83 | 0.96 % | ||
| Current price: | 16.67 | |||
| Support | S1 | 16.30 | -2.20 % | |
| S2 | 16.14 | -3.18 % | ||
| S3 | 15.88 | -4.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.18 | 3.06 % | |
| R2 | 16.77 | 0.600 % | ||
| R1 | 16.74 | 0.420 % | ||
| Current price | 16.67 | |||
| Support | S1 | 15.98 | -4.14% | |
| S2 | 15.06 | -9.66% | ||
| S3 | 13.13 | -21.24% |
FBIOP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 05, 2024 | May 14, 2024 | May 31, 2024 | $0.195 | 1.17% |
| 2 | Apr 12, 2024 | Apr 12, 2024 | Apr 30, 2024 | $0.195 | 1.32% |
| 3 | Mar 14, 2024 | Mar 14, 2024 | Mar 31, 2024 | $0.195 | 1.18% |
| 4 | Feb 07, 2024 | Feb 14, 2024 | Feb 29, 2024 | $0.195 | 1.27% |
| 5 | Jan 09, 2024 | Jan 11, 2024 | Jan 31, 2024 | $0.195 | 1.46% |
FAQ
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