Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>PARA stock price was trading in a downtrend facing bearishness in the past sessions.</a> </li> 
 <li> <span>2</span> <a>Buyers are attempting to recover losses.</a> </li> 
</ul> 
<p>Paramount Global (PARA Stock) price persisted in slipping the gains and face selling pressure in the past sessions resulting in a significant correction. Moreover, the stock price is trading below the key moving averages and near the support zone of $13.00. The price action signals bearish dominance, and the stock is trading in a downtrend, suggesting that the stock may retest the demand zone of $10 in the following sessions.</p> 
<p>In the past months, PARA stock posted Q1 2023 below estimates, which reacted as a curse. The price noted a major gap down, showing a death crossover on the charts. Moreover, the price sharply dropped from $22 to $16 intraday. After that, the stock continued in a downtrend, where buyers attempted a recovery but failed multiple times and persisted in losing the gains.</p> 
<p>PARA stock has an upper trajectory of $17.00 near the 100-day EMA, a strong resistance mark. Conversely, the lower trajectory is near $13.00, the support region, which the stock is willing to retest in the upcoming sessions.</p> 
<p>Paramount Global is a mass media company that creates and distributes content across a variety of platforms to audiences around the world. It operates its business through the following segments: Entertainment, Cable Networks, Publishing, and Local Media.&nbsp;</p> 
<p>The Entertainment segment comprises the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films, as well as the company’s digital streaming services, CBS All Access and CBSN.&nbsp;</p> 
<p>At press time, PARA stock price is trading at $14.93 with an intraday drop of 2.23% showing bearishness on the charts. Moreover, the trading volume increased by 1.23% to 14.999 Million. The market cap is $9.867 Billion. However, analysts maintained a strong sell rating, while the stock persists in giving negative returns (-5.03%) weekly and (-10.71%) monthly.</p> 
<h2 class="wp-block-heading" id="strong-para-stock-bears-are-dominating-strong"><strong>PARA Stock: Bears Are Dominating</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/HnkfssYaSwUQdQNzOPfhf74M69OkxnGmkNNG5rwh0lkSG5ayESUixIIzrHL9hTERWRrbN0ZEZr7I2j5lVxf7S0CaWNw6tiBtzWq4jVYVPV0iQIoYRMdT6HVYGfirkV_fkWbXY5POEOOGb7KrPcL8wRY" alt="Paramount Global (PARA Stock) Facing Severe Downtrend, What Next?"> 
  <figcaption class="wp-element-caption">
    Source: PARA Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the daily charts, PARA stock formed a symmetrical triangle pattern. The price hovering near the lower trendline indicates selling pressure. Moreover, case 1 &amp; case 2 indicate that if stock slips below the trendline, it will head for $10. Conversely, if the price breaks the upper trendline, the resistance mark of $18 could be retested.</p> 
<p>As per the Fib levels, <a href="https://www.thecoinrepublic.com/2023/07/19/paramount-global-stock-price-prediction-why-is-para-falling-down/" rel="noopener noreferrer nofollow">the PARA stock price</a> is trading near the 23.6% level and showing bearishness on the charts. Moreover, the price is close to the lower bollinger band, indicating seller attainability on the charts.</p> 
<h2 class="wp-block-heading" id="strong-what-technical-indicators-say-strong"><strong>What Technical Indicators Say?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large is-resized"> 
  <img decoding="async" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-78-1024x481.png" alt="Paramount Global (PARA Stock) Facing Severe Downtrend, What Next?" class="wp-image-159341" style="width: 100%;height:554px" width="1180" height="554" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-78-1024x481.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-78-300x141.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-78-768x361.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-78-1536x722.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-78-750x353.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-78-1140x536.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-78.png 1600w" sizes="(max-width: 1180px) 100vw, 1180px"> 
  <figcaption class="wp-element-caption">
    Source: PARA Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the 4-hour charts, <a href="https://www.thecoinrepublic.com/2023/07/19/paramount-global-stock-price-prediction-why-is-para-falling-down/" rel="noopener noreferrer nofollow">PARA stock price</a> shows a bearish structure and negative outlook, and sellers persisted in making a short buildup.</p> 
<p>The RSI curve stayed in the oversold region and formed a negative crossover indicating selling pressure and the bearish crossover in the MACD indicates the same.</p> 
<h4 class="wp-block-heading"><strong>Conclusion:</strong></h4> 
<p>Paramount Global (PARA stock) price is trading below the 20-day EMA and showing seller dominance. Moreover, the price action indicates a bearish structure and a further fall toward $10. However, buyers want a bounce to retest $18 near the 100-day EMA.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels:</strong></h4> 
<p>Support Levels: $12 and $10</p> 
<p>Resistance Levels: $18 and $20</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Paramount Global (PARA Stock) Facing Severe Downtrend, What Next?

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