Paramount Global price readies to pierce pivotal support - Forecast today - 16-04-2024

Paramount Global’s stock price (PARA) inched down in the intraday levels, preparing to pierce the pivotal support of $10.65, amid the dominance of the main downward trend in the medium term, with negative pressure from the 50-day SMA.

Therefore we expect more losses for the stock, targeting the next support at $8.60, provided the pivotal support of $10.65 was reliably breached. 

Expected trading range: between the support of $$8.60 and the resistance of $10.65.

Trend forecast: Bearish