Paramount Global Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Monday for Paramount Global
(Updated on May 20, 2024)
No changes to the price of Paramount Global stock on the last trading day (Monday, 20th May 2024). During the last trading day the stock fluctuated 3.28% from a day low at $11.90 to a day high of $12.29. The price has fallen in 6 of the last 10 days and is down by -9.56% for this period.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 14.10% during the next 3 months and, with a 90% probability hold a price between $12.69 and $16.51 at the end of this 3-month period.
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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
Fair opening price May 21, 2024 | Current price |
---|---|
$12.07 ( 0.416%) | $12.02 |
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 | 12.46 | 3.66 % | |
R2 | 12.31 | 2.42 % | ||
R1 | 12.22 | 1.66 % | ||
Current price: | 12.02 | |||
Support | S1 | 11.92 | -0.82 % | |
S2 | 11.83 | -1.59 % | ||
S3 | 11.68 | -2.83 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 13.86 | 15.31 % | |
R2 | 13.52 | 12.48 % | ||
R1 | 12.89 | 7.24 % | ||
Current price | 12.02 | |||
Support | S1 | 11.21 | -6.74% | |
S2 | 11.06 | -7.99% | ||
S3 | 10.50 | -12.65% |
PARA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 10, 2024 | Jun 17, 2024 | Jul 01, 2024 | $0.0500 | 0.416% |
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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