(Finance) – Lively session for Paramountwhich witnessed an upward move with a 1.74% increase.
The news that Skydance Media has reached a preliminary agreement to purchase National Amusements, the company’s controlling shareholder, is also helping.
The stock had a lively early move, starting the session at $4.6, below the July 1 high, before increasing its performance during the day and finishing up at $4.67, around the best level of the meeting.
The analysis of the stock performed on a weekly basis highlights the bullish trendline of Paramount more pronounced than the performance of the reference index. This expresses the greater attractiveness of the stock by the market.
The short-term technical status of Paramount highlights an expansion of the positive performance of the curve with the first resistance area identified at 4.727. Risk of a possible correction up to the target of 4.557. Expectations are for an increase in the bullish trendline towards the resistance area of 4.897.
The riskiness of Paramount appears to be quite high, confirming the high deviation existing between prices in the last period. The investment therefore appears appropriate for those who, aware of the risk of large losses, are inclined towards high profits. Daily volumes are low at 762,632, therefore lower than the one-month moving average of volumes equal to 1,342,280.