Paramount Global stymied by strong resistance - Analysis - 29-03-2023

Paramount Global's stock (PARA) rose in the intraday levels, testing the main downward medium-term trend line, while touching the resistance of the 50-day SMA, forcing the stock to trim some gains, with negative signals out of the RSI after reaching overbought levels. 

Therefore we expect the stock to return lower, targeting the support of 19.17, provided the resistance of 24.66 holds on.

Expected trend for today: Bearish