Paramount Global Stock Forecast
Paramount Global stock price fell more than -7.02% Tuesday closing at $11.39
(Updated on Apr 30, 2024)
The Paramount Global stock price fell by -7.02% on the last day (Tuesday, 30th Apr 2024) from $12.25 to $11.39. During the last trading day the stock fluctuated 6.97% from a day low at $11.33 to a day high of $12.12. The price has been going up and down for this period, and there has been a 9.2% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 million shares and in total, 20 million shares were bought and sold for approximately $227.92 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -10.50% during the next 3 months and, with a 90% probability hold a price between $8.28 and $11.68 at the end of this 3-month period.
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PARA Signals & Forecast
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. The Paramount Global stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $12.22 and $11.63. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -10.60%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Paramount Global stock
Paramount Global finds support from accumulated volume at $11.21 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 $0.790 between high and low, or 6.97%. For the last week, the stock has had daily average volatility of 4.80%.
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 1st
For the upcoming trading day on Wednesday, 1st we expect Paramount Global to open at $11.61, and during the day (based on 14 day Average True Range), to move between $10.70 and $12.08, which gives a possible trading interval of +/-$0.688 (+/-6.04%) up or down from last closing price. If Paramount Global takes out the full calculated possible swing range there will be an estimated 12.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.21 (1.58%) than the resistance at $12.37 (8.60%), 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 is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -4.606 Sell Candidate Downgraded
Predicted Opening Price for Paramount Global of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $11.61 ( 1.96%) | $11.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PARA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.40 | 8.90 % | |
| R2 | 12.10 | 6.25 % | ||
| R1 | 11.92 | 4.61 % | ||
| Current price: | 11.39 | |||
| Support | S1 | 11.31 | -0.689 % | |
| S2 | 11.13 | -2.33 % | ||
| S3 | 10.82 | -4.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.52 | 18.70 % | |
| R2 | 12.44 | 9.22 % | ||
| R1 | 12.37 | 8.60 % | ||
| Current price | 11.39 | |||
| Support | S1 | 11.21 | -1.58% | |
| S2 | 11.06 | -2.90% | ||
| S3 | 10.50 | -7.81% |
PARA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 10, 2024 | Jun 17, 2024 | Jul 01, 2024 | $0.0500 | 0.440% |
| 2 | Feb 22, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0500 | 0.426% |
| 3 | Oct 12, 2023 | Dec 14, 2023 | Jan 02, 2024 | $0.0500 | 0.347% |
| 4 | Aug 01, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.0500 | 0.397% |
| 5 | May 08, 2023 | Jun 14, 2023 | Jul 03, 2023 | $0.0500 | 0.306% |
FAQ
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