PARAMOUNT GLOBAL-CLASS A (PARAA) Stock Technical Analysis
NASDAQ:PARAA - Nasdaq - US92556H1077 - Common Stock - Currency: USD
We assign a technical rating of 4 out of 10 to PARAA. Although PARAA is scoring some points because its good overall performance in the market in the past year, recent evolutions are not that positive. Both the medium and short term picture give negative signs.
Warning: PARAA has an average volume of 21076 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
PARAA is one of the better performing stocks in the Media industry, it outperforms 80% of 97 stocks in the same industry.
PARAA is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so PARAA is performing more or less in line with the market.
Both the short term and long term trends are neutral. So this is not the most entertaining stock around.
Looking at the yearly performance, PARAA did better than 83% of all other stocks. However, this overall performance is mostly based on the strong move around 10 months ago.
In the last month PARAA has a been trading in a tight range between 22.32 and 22.86.
PARAA has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 22.82. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 22.58, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
21.49
23.83
2 important support areas can be observed.
- A support zone ranging from 22.10 to 22.58. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 21.71 to 21.75. This zone is formed by a combination of multiple trend lines in multiple time frames.
2 important resistance areas can be observed.
- Resistance @22.82 from a horizontal line in the daily time frame.
- A resistance zone ranging from 23.30 to 23.59. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | NEUTRAL | NEUTRAL | The long term trend for PARAA is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for PARAA is neutral. |
| ChartMill Relative Strength | 83.71 | POSITIVE | PARAA has a high relative strength, it outperformed 83.71% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of PARAA is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of PARAA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of PARAA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 54.29 | NEUTRAL | The RSI value for PARAA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests PARAA has a positive trend. |
| Stochastics (14,3) | 85.65 | OVERBOUGHT | The high Stochastics value suggests PARAA may be overbought. |
| Average True Range in percent/ATR (20) | 1.16 | LOW VOLATILITY | The low ATR as a percentage value for PARAA suggests low volalility. |
| Average Directional Index/ADX (14) | 19.51 | NEGATIVE | The low ADX value for PARAA suggests a weak or negative 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)
22.7
-0.1 (-0.44%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorCommunication Services
GICS IndustryMedia
Performance
% Chg-0.44%
1 Week0.35%
2 Weeks1.07%
1 Month-0.44%
3 Month0%
6 Month0.27%
12 Month34.56%
2 Year22.31%
3 Year-16.73%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.23
ATR(20)%1.16%
ATR Inc76.54%
Range Today0.25
ADR(20)0.26
ADR(20)%1.14%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS83.71
Mansfield-0.27
10 Day High22.8
10 Day Low22.32
20 Day High22.86
20 Day Low22.32
52 Week High24.5
52 Week Low16.87
CS1 End22.58
CR1 Start22.82
Volume & EV
DER(3)-0.19%
DER(5)-0.61%
Volume22.00K
Volume Incr22.02%
Vol(5)20.78K
Vol(50)21.08K