- Paramount Global’s stock has shown a decrease in profit margin percentage.
- The technical summary widget gives a sell signal for PARA stock.
- Paramount Global’s stock price has declined by over 35% in the last year.
Paramount Global (NASDAQ: PARA) is a prominent global media and entertainment corporation with extensive operations. The company effectively manages its activities through three primary segments: TV Media, Direct-to-Consumer, and Filmed Entertainment.
Trend Analysis
The present trajectory of Paramount Global stock indicates a downward trend, consistently establishing new lower lows in its pricing.
The technical summary widget for PARA stock reveals a bearish signal. Among the top 26 indicators, 15 have given a sell signal, while only 2 indicated a buy. This suggests that the stock is currently underperforming.
PARA stock has yielded a return of approximately -41% in the past six months, and a one-year return of approximately -33%. These negative returns over the past year highlight the stock’s weak performance.
In March 2021, Paramount Global (PARA) stock peaked at $101.97. However, following this peak, the stock embarked on a consistent decline. By the end of November 2022, the stock had depreciated by nearly 85%, ultimately reaching an all-time low. It currently maintains its position near these historically low levels.
Presently, PARA’s price is confined within a descending wedge pattern. This pattern signifies weakness, indicating that the stock’s overall structure is feeble, and pointing to a probable future decline in price.
Paramount Global Inc. (PARA) Stock Price Analysis
para by writer50_tcr on TradingView.com
The current status of Paramount Global stock is below two significant thresholds: the 50-day and 100-day Exponential Moving Average (EMA) levels. This structure strongly suggests a general downward trend, implying the potential for further price declines shortly.
Upon closer examination of the technical indicators, it becomes evident that the signal line and the MACD line for PARA stock are beneath the zero line. Additionally, a red histogram signifies the existence of downward pressure exerted on the stock’s value.
The RSI and 14-day SMA lines for Paramount Global stock reveal that they are near the 30 mark. This positioning indicates that both indicators reside within the negative zone, thereby pointing to the possibility of price reductions in the coming days.
Conclusion
Based on the analysis, it becomes clear that Paramount Global (PARA) stock price is currently tracing a downward path, with potential future decreases in its value. Notably, the emergence of new price lows and multiple unfavorable indicators collectively indicate a probable price decline in the days to come.
Technical Levels
- Support Level: $11.48.
- Resistance Level: $17.2.
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.
