conditional format for value outside of a given range

I am using Excel 2010
I have a given range which is defined in column A.
If the value to be entered into B3 is lower than the defined range then I want the font of B3 to be Red.
If the value to be entered into B3 in within the defined range then I want the font of B3 to be Black.
If the value to be entered into B3 is higher than the defined range then I want the font of B3 to be Green.

Colum A has 100 rows, with each row having a different defined range.
Each week a new column is added to spread sheet while retaining all previous data
Can I do this with conditional formatting?