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Default dynamically changing text color

Is there a way to have the text/font color change in a cell depending on the
value entered?
For example: starting with cell A1, if I enter a value in cell A2 and it is
a lower number than A1 can it dynamically change to red text? Or if the value
in A2 is greater than A1 can it dynamically change to green text?

What I am trying to accomplish is enter multiple values in a column and just
enter the number in each cell, A1, A2, A3... and depending on the value
comparison to the cell above, change the color of the cell contents. Is that
possible?
 
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