PARAMOUNT GLOBAL-CLASS A (PARAA) Stock Technical Analysis
NASDAQ:PARAA - Nasdaq - US92556H1077 - Common Stock - Currency: USD
Taking everything into account, PARAA scores 2 out of 10 in our technical rating. PARAA has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
Warning: PARAA has an average volume of 23464 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 71% of 96 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.
The long and short term trends are both neutral. This gives a pretty neutral overall picture!
When comparing the performance of all stocks over the past year, PARAA turns out to be only a medium performer in the overall market: it outperformed 66% of all stocks.
In the last month PARAA has a been trading in a tight range between 22.33 and 22.90.
Considerably lower volume is observed in the last couple of days.
Although the technical rating is bad, PARAA does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 22.62. 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.
More info and screens
21.49
24.44
When analyzing the support we can see 2 important areas.
- A support zone ranging from 22.17 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 21.80. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 22.62 to 22.82. This zone is formed by a combination of multiple trend lines and important moving averages 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.
- A resistance zone ranging from 24.20 to 24.20. 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 | 66.84 | NEUTRAL | PARAA is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of PARAA is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of PARAA is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of PARAA is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 49.97 | NEUTRAL | The RSI value for PARAA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests PARAA has a negative trend. |
| Stochastics (14,3) | 52.05 | NEUTRAL | The Stochastics value for PARAA is a neutral value. |
| Average True Range in percent/ATR (20) | 1.37 | LOW VOLATILITY | The low ATR as a percentage value for PARAA suggests low volalility. |
| Average Directional Index/ADX (14) | 19.34 | 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)
22.62
+0.09 (+0.4%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorCommunication Services
GICS IndustryMedia
Performance
% Chg0.4%
1 Week0.22%
2 Weeks-0.22%
1 Month-0.18%
3 Month-0.13%
6 Month-0.62%
12 Month9.43%
2 Year28.74%
3 Year-38.63%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.29
ATR(20)%1.37%
ATR Inc-5.91%
Range Today0.22
ADR(20)0.3
ADR(20)%1.35%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS66.84
Mansfield-0.14
10 Day High22.9
10 Day Low22.33
20 Day High22.9
20 Day Low22.33
52 Week High24.5
52 Week Low16.59
CS1 End22.58
CR1 Start22.62
Volume & EV
DER(3)-1.47%
DER(5)0.01%
Volume10.20K
Volume Incr-54.73%
Vol(5)11.60K
Vol(50)23.46K