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- Berkshire Hathaway has increased their stake in the Paramount global which can push the price
- Technical indicators are favoring the PARA stock. It is currently trading near the value of $19.03
Paramount Global is one of the biggest conglomerate which houses Paramount Pictures, CBS, Showtime, Paramount+, Pluto TV, and other key brands. It has shown an exceptional growth in the past few years. The legendary investor Warren Buffet has increased their stake in Paramount Global. Buffet’s Hataway now owns 91 Million shares which has pushed the price a bit. Paramount pictures is ready to release some of the biggest movies of this year like Mission Impossible and Babylon. Investors are hoping from Paramount Global as it reaches the next quarter. Various analysts are expecting growth in the future.
Paramount Global has a market cap of over $12 Billion as per the Yahoo Finance.Investors are expecting a strong rise in the EPS in the next quarter. It is currently down by more than 50% from its 52 week high. It may see a rally in the future as per analysts prediction.
Technical Indicators Are Favoring The PARA Stock
Paramount Stock is looking to push beyond $25 in the near future.The weekly technical chart of the PARA stock suggests a consolidated trend in price. On coming to the daily chart the asset price is trading near $19 with a gain of more than 1.98%. Resistance of the PARA can be seen near $25. Meanwhile the support of the asset price can be seen near $15. It is currently trading below the 100 and 50 Daily Moving Average. There can be a positive crossover which can push the price to a new high.
Conclusion
Paramount Global is one of the biggest conglomerate and houses Paramount Pictures. Paramount Pictures is ready to produce some of the biggest movies like Mission Impossible. PARA stock is currently looking to push beyond $25 in the near future.
Technical Levels
Major Support:$15
Major Resistance:$25
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
