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
Paramount Global stock upgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The Paramount Global stock price gained 3.14% on the last trading day (Friday, 28th Jun 2024), rising from $17.82 to $18.38. During the last trading day the stock fluctuated 3.37% from a day low at $17.80 to a day high of $18.40. The price has fallen in 6 of the last 10 days and is down by -3.01% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 108 thousand more shares were traded than the day before. In total, 161 thousand shares were bought and sold for approximately $2.96 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 -17.91% during the next 3 months and, with a 90% probability hold a price between $13.52 and $18.84 at the end of this 3-month period.
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PARAA Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 8.95%. 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 $20.07. On a fall, the stock will find some support from the short-term average at $17.46. 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
On the downside, the stock finds support just below today's level from accumulated volume at $17.36 and $17.02. 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 $17.36. If this is broken, then the next support from accumulated volume will be at $17.02 and $16.87.
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 $0.600 between high and low, or 3.37%. For the last week, the stock has had daily average volatility of 3.54%.
Our recommended stop-loss: $17.58 (-4.36%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 39 days ago.)
Trading Expectations (PARAA) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Paramount Global to open at $18.19, and during the day (based on 14 day Average True Range), to move between $17.47 and $19.29, which gives a possible trading interval of +/-$0.91 (+/-4.94%) up or down from last closing price. If Paramount Global takes out the full calculated possible swing range there will be an estimated 9.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $17.36 (5.55%) than the resistance at $22.07 (20.08%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.813 Hold/Accumulate Upgraded
Predicted Opening Price for Paramount Global of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $18.19 ( 1.02%) | $18.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PARAA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.79 | 2.25% |
| R2 | 18.56 | 1.00% |
| R1 | 18.42 | 0.231% |
| Price | 18.38 | |
| S1 | 17.96 | -2.26% |
| S2 | 17.82 | -3.03% |
| S3 | 17.59 | -4.28% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.93 | 24.76% |
| R2 | 22.42 | 21.98% |
| R1 | 22.07 | 20.08% |
| Price | 18.38 | |
| S1 | 17.36 | -5.55% |
| S2 | 17.02 | -7.40% |
| S3 | 16.87 | -8.22% |
PARAA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 10, 2024 | Jun 17, 2024 | Jul 01, 2024 | $0.0500 | 0.272% |
| 2 | Feb 22, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0500 | 0.236% |
| 3 | Oct 12, 2023 | Dec 14, 2023 | Jan 02, 2024 | $0.0500 | 0.261% |
| 4 | Aug 01, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.0500 | 0.323% |
| 5 | May 08, 2023 | Jun 14, 2023 | Jul 03, 2023 | $0.0500 | 0.262% |
FAQ
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