Paramount Global Stock Forecast

Paramount Global stock price ended at $12.02 on Monday, after losing 0%.
(Updated on May 20, 2024)

PARA Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, May 17, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. 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 $12.52 and $12.12. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

Support, Risk & Stop-loss for Paramount Global stock

On the downside, the stock finds support just below today's level from accumulated volume at $11.21 and $11.06. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Paramount Global finds support just below today's level at $11.21. If this is broken, then the next support from accumulated volume will be at $11.06 and $10.50.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.390 between high and low, or 3.28%. For the last week, the stock has had daily average volatility of 5.11%.

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 Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Paramount Global to open at $12.07, and during the day (based on 14 day Average True Range), to move between $11.35 and $12.69, which gives a possible trading interval of +/-$0.675 (+/-5.61%) up or down from last closing price. If Paramount Global takes out the full calculated possible swing range there will be an estimated 11.22% 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 (6.74%) than the resistance at $12.89 (7.24%), 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?

The Paramount Global stock holds several negative signals and despite the positive trend, we believe Paramount Global will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.466 Sell Candidate Unchanged

Predicted Opening Price for Paramount Global of Tuesday, May 21, 2024

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