Resistance

Time

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Paramount stock price (NASDAQ: PARA) is consolidating in a narrow range.</a> </li> 
 <li> <span>2</span> <a>PARA stock formed a short-term base near $14.00.</a> </li> 
 <li> <span>3</span> <a>Paramount Global is expected to release quarterly earnings on August 7, 2023.</a> </li> 
</ul> 
<p>Paramount stock price (NASDAQ: PARA) is down by 8.44% on a YTD basis. It formed a bearish pattern and seems to be stuck into the narrow-range consolidation.&nbsp;</p> 
<p>PARA stock price consolidated for quite a long time in a range between $13.83 to $19.00. It showed signs of base formation.&nbsp;</p> 
<p>Paramount Global stock price is trading below the 50-day and 200-day EMA showcasing a downtrend. Buyers tried to break the 50-day EMA to bring back the confidence of investors. But prices got rejected indicating the strong presence of sellers.&nbsp;</p> 
<p>PARA stock fell 28% approx on May 4, 2023, due to the disappointment in quarterly earnings. It broke the crucial swing low support of $19.00 which disturbed the sentiment of investors.&nbsp;</p> 
<p>PARA stock fell with a high selling volume indicating some genuine investors might have taken the exit. Later, prices continue to decline and hit a 52-week low at $13.80.&nbsp;</p> 
<p>In June, Paramount shares began to recover but the $17.00 turnout was a strong hurdle and prices lacked momentum. Paramount stock price closed the previous session at $15.63 with an intraday rise of 3.58%.</p> 
<h2 class="wp-block-heading" id="strong-will-paramount-stock-break-the-higher-range-strong"><strong>Will Paramount Stock break the higher range</strong></h2> 
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    NASDAQ: PARA daily chart by <a href="https://www.tradingview.com/x/6Mxd5Wal/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a> 
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</div> 
<p>Paramount stock price (NASDAQ: PARA) has not performed well in the past few months. It traded with a mild bearish bias and remained in the range. <a href="https://www.thecoinrepublic.com/2023/07/11/paramount-stock-price-has-a-long-way-ahead-to-pick-pace-again/" target="_blank" rel="noopener noreferrer nofollow">Paramount </a>Global scheduled the quarterly earnings on August 7, 2023.&nbsp;</p> 
<p>Market analysts estimate the revenue of $7.44 Billion. If the company succeeds to beat the estimates then stock prices might rise. Moreover, it will also increase the probability of a higher range breakout.&nbsp;</p> 
<p>On the other hand, if a company disappoints in earnings then bears may try to drag the stock price to previous lows. The technical analysis suggests PARA <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">stock</a> has consolidated a lot and the downside seems low.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-para-stock-price-analysis-on-weekly-time-frame-strong"><strong>PARA Stock Price Analysis on Weekly Time Frame</strong></h3>  
<div class="tradingview-widget-container">
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 <div id="tradingview_6fc31"></div> &nbsp;&nbsp; 
 <div class="tradingview-widget-copyright"> <a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a> 
 </div> &nbsp;&nbsp; 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp; 
 <script type="text/javascript">

  new TradingView.widget(

  {

  "width": 950,

  "height": 500,

  "symbol": "NASDAQ:PARA",

  "interval": "D",

  "timezone": "Etc/UTC",

  "theme": "dark",

  "style": "1",

  "locale": "en",

  "toolbar_bg": "#f1f3f6",

  "enable_publishing": true,

  "allow_symbol_change": true,

  "studies": [

    "STD;Supertrend"

  ],

  "container_id": "tradingview_6fc31"

}

  );

  </script> 
</div>  
<p>PARA stock price formed the Doji candle on the weekly time frame. It indicates indecisiveness and prices lacked direction.&nbsp;</p> 
<p>The MACD curve slopes sideways and sustains below the zero line. It indicates prices likely to spend some more time in consolidation. The RSI at 48 denotes neutral territory and the balance between bullish and bearish positions.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Paramount Stock Price (NASDAQ: PARA) is near to the demand zone. It consolidated for quite a long time and formed a strong base. The technical analysis suggests the next directional in PARA stock will be visible after earnings.</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li>Resistance levels: $17.17 and $18.90</li> 
 <li>Support levels: $14.87 and $13.83</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>

Paramount Stock: Will PARA stock rally toward $20 after Earnings?

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