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PARA Stock Shows Declining Trend; Can Overselling Leads to End? 

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PARA Stock Shows Declining Trend; Can Overselling Leads to End? 
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PARA stock lost 21% of its trading price in the YTD time frame. At the time of publication, Paramount Global Class B stock was trading at $13.40 with an intraday trading volume of 15.497 Million. 

PARA Stock Needs a Strong Reversal to Revive 

In the 52-week time frame, the trading range of PARA stock is $13.30 and $25.93, as the lowest and highest trading price, respectively. Paramount Global Class B has a market capitalization of $8.721 Billion. 

PARA Stock Shows Declining Trend; Can Overselling Leads to End? 
Source: PARA stock price chart from TradingView 

At press time, PARA stock prices were trading below 20, 50, 100, and 200-day EMA.  

In comparison to the market cap of 2022, a major decline of 20.1% is seen in the trading volume this year. 

PARA stock’s annual price target is $18.27 which is around 35.38% greater than its press time trading price. The dividend yield TTM is 5.75% and the next dividend is expected to be distributed on September 14, 2023. 

TradingView data states that 576.432 Million PARA shares are free-floating and the remaining 5.56% are closely held by financial backers. Paramount Global operates as a mass media company, that creates and distributes content across a variety of platforms to audiences around the globe.

The MACD indicators showing negativity and a significant amount of bears are seen to be gathered above the histogram. If the MACD line continues to decline then possibilities are that PARA stock might fall in an oversold region. 

However, the RSI is also heading towards the oversold territory and chances of reversal are possible. If both indicators continued to head towards the oversold region then a possible bounce in PARA stock trading price might be seen soon. 

On September 7, PARA stock opened 2.09% below its previous closing. Market analysts believe that a major bounce in the trading price is possible in the second half of September 7.

In the weekly time frame, PARA stock lost 11.14% and in a month, a decline of 14.76% was observed in its trading price. 

Paramount Global Financial Updates 

Paramount Global was expected to report $7.44 Billion in revenue. However, the reported revenue was $7.62 Billion and the reported EPS was positive 0.10.  

The estimated revenue for the third quarter is $7.23 and the estimated EPS is positive 0.12.  

In 2022, the Gross profit of the company was 33%, Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) was 11%, Earnings before interest and taxes (EBIT) was 10% and net income was 4%.  

Technical Levels 

Major Support: $13.03 and $12

Major Resistance: $15.25 and $16.25

Conclusion

A major decline in PARA trading price has been observed in the past few months and the investors are troubled by constant selling. The RSI and MACD indicators suggest that a bounce in Paramount Global’s share trading price might be seen by the end of the ongoing week.  

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

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