Resistance

Million

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Paramount Global. is currently trading at $15.52, with a rise of 1.04% in the past 24 hours. However, it has declined by -4.90% in the last 7 days.</a> </li> 
 <li> <span>2</span> <a>PARA stock faces resistance from the 50-moving average.</a> </li> 
</ul> 
<p>Paramount is a global media leader that provides premium content to audiences across different platforms worldwide. The company has various businesses, such as streaming, advertising, U.S. network distribution, global content distribution, and studios. Paramount struggled in the first quarter of 2023, reporting disappointing results and slashing its dividend. Some of the key points are:</p> 
<p>• The company reported a huge quarterly loss of $1.81 per share, falling short of analysts’ expectations of a profit of 14 cents per share. The loss was mainly due to its decision to drop or abandon film and TV projects for $1.67 Billion.</p> 
<p>• The company cut its quarterly dividend by 79% to 5 cents per share, citing the need to conserve cash and invest in its growth initiatives.</p> 
<p>• The company’s revenue dropped 1% to $7.27 Billion. There was an 11% decline in Paramount’s advertising revenue. Nevertheless, it reflects the ongoing weakness of the advertising market and the loss of viewers to streaming services.</p> 
<p>• With 4.1 million new subscribers, <a href="https://www.thecoinrepublic.com/2023/07/11/paramount-stock-price-has-a-long-way-ahead-to-pick-pace-again/" rel="noopener noreferrer nofollow">Paramount</a>‘s streaming service now has 60 Million subscribers. As Showtime merges with Paramount, the company expects to reduce spending on streaming content while finding marketing efficiencies. For the quarter, streaming losses were $511 Million.</p> 
<h2 class="wp-block-heading" id="strong-paramount-global-technical-analysis-strong"><strong>Paramount Global Technical Analysis</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="460" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Paramount-Global-Technical-Analysis-1024x460.webp" alt="Paramount Global Technical Analysis" class="wp-image-152759" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Paramount-Global-Technical-Analysis-1024x460.webp 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Paramount-Global-Technical-Analysis-300x135.webp 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Paramount-Global-Technical-Analysis-768x345.webp 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Paramount-Global-Technical-Analysis-750x337.webp 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Paramount-Global-Technical-Analysis-1140x512.webp 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Paramount-Global-Technical-Analysis.webp 1273w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: PARA/US DOLLAR by TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>The price of Paramount Global is under the 50-day and 200-day MAs on the daily time frame. However, the price is still in a downtrend because it just broke the 50 MA with a red candle and the next candle is green.</p> 
<p>The RSI value of PARA stock is currently 42.88 points. The 14 SMA line is below the middle line, around 49.65 points which shows bearish momentum in the market and heading toward the oversold zone.</p> 
<p>The MACD indicator is also heading to the negative zone indicating the drop in price. The MACD line at -0.0948 and signal line at -0.0648 is above the zero line.</p> 
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3> 
<p>Paramount is a global media company that offers premium content to audiences worldwide, but it faced a difficult first quarter of 2023, reporting a huge loss and cutting its dividend. The company’s revenue and ad sales were lower than expected, while its streaming business added subscribers but also incurred losses. The company plans to invest more in streaming in 2023 and integrate Showtime with Paramount. The technical chart is also not looking good. Investors and traders should wait for the perfect setup before taking any steps. They should also carefully monitor market trends and news to identify potential opportunities or risks.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Level – </strong>The current support level of PARA stock is $13.75.</li> 
 <li><strong>Resistance Level – </strong>The current resistance level of PARA stock is $17.09.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>This article is only for information and education purposes. Do not use this information as financial or trading advice. Trading and investing have financial risks. Before making any investment or trading decision, please think about your risk tolerance and situation.</p>

Paramount Global Stock Price Prediction: Why is PARA Falling Down?

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