Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>PARA stock price fell 10% in September 2023.</a> </li> 
 <li> <span>2</span> <a>Paramount stock price is in a downtrend and hit a 52-week low at $12.84.</a> </li> 
 <li> <span>3</span> <a>Paramount Global stock price is near its Covid low at $10.00.</a> </li> 
</ul> 
<p>PARA stock price fell 10% in the current month and formed a bearish pattern. It continues to decline by forming lower low swings which shows that the sellers are still active on higher levels.&nbsp;</p> 
<p>Paramount Global stock price is below the 50-day EMA; indicating a downtrend. Previously, the buyers tried multiple times to push the price above the 50-day EMA but it got rejected and reverted down.&nbsp;</p> 
<p>On a higher timeframe, PARA stock price is consolidating inside the wide range of $12.86 to $17.23. The next direction in the stock will be visible when prices break either side of the range.&nbsp;</p> 
<p>Recently, the trading volume increased but the price did not react much. It might be an early indication of a short squeeze. So, short sellers need to be careful before creating fresh shorts at current levels.&nbsp;</p> 
<p>On September 7, 2023, PARA stock hit a 52-week low at $12.84. Later, it showed a minor recovery but price lacked the positive momentum and continued to trade in range.&nbsp;</p> 
<p><a href="https://www.thecoinrepublic.com/2023/09/15/para-stock-price-has-potential-to-reach-32-suggests-analysts/">Paramount stock</a> price closed the previous session at $13.60 on a flat basis. The market capitalization stands at $9.00 Billion.</p> 
<h2 class="wp-block-heading" id="strong-will-para-stock-price-defend-the-multi-year-low-strong"><strong>Will PARA Stock Price Defend the Multi-Year Low?</strong></h2> 
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   NASDAQ: PARA daily chart by<a href="https://www.tradingview.com/x/JS7dE5xJ/"> TradingView</a>
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<p>PARA stock price is down by approximately 20% on a YTD basis. It disappointed the expectation of the long-term investors. Due to this, some investors might have taken exit on the higher levels.&nbsp;</p> 
<p>In the past few months, the broader market indices have shown a decent recovery from the lows. However, the Paramount stock price remained bearish and did not show any signs of reversal.&nbsp;</p> 
<p>Till the <a href="https://www.thecoinrepublic.com/2023/09/15/para-stock-price-has-potential-to-reach-32-suggests-analysts/">PARA share price</a> trades below $17.00, it is expected to remain in the bears’ grip. However, the price looks oversold; so a short-term bounce may come but the reliability of the upmove will remain doubtful.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-paramount-global-stock-price-near-the-multi-year-low-strong"><strong>Paramount Global Stock Price Near the Multi-Year Low&nbsp;</strong></h3>  
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<p>Paramount Global stock price is near the multi-year low. So, the downfall may take a halt in the upcoming months.&nbsp;</p> 
<p>Currently, the strongest visible support is at $10.00. If the sell-off continues and prices drop below $13.00, then a 10% to $20% more downfall may come.&nbsp;</p> 
<p>On the other hand, if the PARA stock begins to recover from the current levels, then it may test $17.00.&nbsp;</p> 
<p>The MACD curve sloping sideways indicates that the price may continue to consolidate for some more time. The RSI at 41 denotes weakness but is near the oversold territory so recovery is possible.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>PARA stock price fell 10% in the current month and hit a 52-week low at&nbsp; $12.84. Buyers are trying their best to rebound but no signs of recovery in price action are visible.&nbsp;</p> 
<p>The analysis suggests that the Paramount Global stock price is oversold so the risk of a short squeeze is high. However, the reliability of the upmove will remain doubtful.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<ul> 
 <li>Resistance levels: $17.23 and $19.00</li> 
 <li>Support levels: $12.00 and $10.00</li> 
</ul> 
<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. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

PARA Stock: Paramount Stock Price Defends $13; Will it Reverse?

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