PARAMOUNT GLOBAL-CLASS B (PARA) Stock Technical Analysis
NASDAQ:PARA - Nasdaq - US92556H2067 - Common Stock - Currency: USD
Taking everything into account, PARA scores 8 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, PARA is only an average performer.
The long and short term trends are both positive. This is looking good!
A new 52 week high is currently being made by PARA, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs.
In the last month PARA has a been trading in the 12.35 - 13.59 range, which is quite wide. It is currently trading near the high of this range.
PARA has an average volume of 7735070 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the performance of all stocks over the past year, PARA turns out to be only a medium performer in the overall market: it outperformed 69% of all stocks.
PARA is an average performer in the Media industry, it outperforms 68% of 97 stocks in the same industry.
Although PARA has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
10.05
13.40
When analyzing the support we can see 5 important areas.
- Support @12.64 from a trend line in the daily time frame.
- A support zone ranging from 11.70 to 11.93. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 11.21 to 11.30. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @10.55 from a horizontal line in the daily time frame.
- Support @10.15 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 13.05 to 13.06. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @13.27 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for PARA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for PARA is up. |
| ChartMill Relative Strength | 69.47 | NEUTRAL | PARA is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of PARA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of PARA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of PARA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 60.21 | NEUTRAL | The RSI value for PARA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests PARA has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 81.47 | OVERBOUGHT | The high Stochastics value suggests PARA may be overbought. |
| Average True Range in percent/ATR (20) | 2.01 | MEDIUM VOLATILITY | The ATR as a percentage value for PARA suggests some volalility. |
| Average Directional Index/ADX (14) | 36.44 | POSITIVE | The high ADX value value for PARA suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
13.05
-0.21 (-1.58%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorCommunication Services
GICS IndustryMedia
Performance
% Chg-1.58%
1 Week0.46%
2 Weeks2.35%
1 Month5.93%
3 Month11.25%
6 Month17.89%
12 Month16.62%
2 Year-18.59%
3 Year-44.82%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.23
ATR(20)%2.01%
ATR Inc116.21%
Range Today0.72
ADR(20)0.26
ADR(20)%1.97%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS69.47
Mansfield0.58
10 Day High13.59
10 Day Low12.66
20 Day High13.59
20 Day Low12.35
52 Week High13.59
52 Week Low9.95
CS1 End12.64
CR1 Start13.05
Volume & EV
DER(3)-3.05%
DER(5)-0.6%
Volume25.57M
Volume Incr18.8%
Vol(5)10.02M
Vol(50)7.74M