Paramount Global Stock Forecast

A very strong day for Paramount Global stock price on Tuesday
(Updated on Jul 02, 2024)

PARA Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 11.55%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Paramount Global stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $11.35. On a fall, the stock will find some support from the short-term average at $10.27. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Paramount Global stock

Paramount Global finds support from accumulated volume at $10.50 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.435 between high and low, or 4.22%. For the last week, the stock has had daily average volatility of 3.39%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PARA) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Paramount Global to open at $10.60, and during the day (based on 14 day Average True Range), to move between $10.23 and $11.21, which gives a possible trading interval of +/-$0.493 (+/-4.60%) up or down from last closing price. If Paramount Global takes out the full calculated possible swing range there will be an estimated 9.20% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $10.50 (2.05%) than the resistance at $12.37 (15.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Paramount Global stock A Buy?

Paramount Global holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.743 Sell Candidate Unchanged

Predicted Opening Price for Paramount Global of Wednesday, July 3, 2024

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