Paramount Global Stock (PARA) Hits A Golden Cross: Bullish Momentum Builds

Paramount Global PARA just sent a powerful technical signal to traders—the stock has completed a Golden Cross.

This rare and often bullish formation occurs when the 50-day simple moving average crosses above the 200-day simple moving average, signaling that short-term momentum is outpacing long-term trends.

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With PARA stock trading at $12.10, well above both its 50-day and 200-day averages, the setup suggests strong upward momentum.

Read Also: Is the Market Bullish or Bearish on Paramount Glb?

The Bullish Case Beyond The Golden Cross

The bullish case for Paramount Global doesn't end with the Golden Cross. The stock is trading above its five-day, 20-day and 50-day exponential moving averages, reinforcing the strength of the uptrend. The eight-day simple moving average sits at $11.61, while the 20-day simple moving average is at $11.34, both trailing behind PARA's current price. These indicators suggest buying pressure remains intact.

Adding to the momentum, the Moving Average Convergence Divergence indicator is at 0.27, another signal that PARA stock is in bullish territory. Meanwhile, the Relative Strength Index has reached 70.98, signaling that the stock is overbought, but given the huge positive trading volume, traders could view this as confirmation of strong demand rather than an immediate bearish signal.

PARA Stock: Riding The Wave Of A Strong Year

Paramount Global has gained 14.51% year to date, with a 14.83% increase in just the past month. Over the last five days alone, the stock has climbed 7.5%, indicating that momentum traders have been actively driving the price higher.

With the technical setup favoring bulls, PARA stock could be primed for further gains, provided buying pressure continues to support the stock.

While the company remains at the center of corporate shake-ups, including the pending Skydance merger and speculation over leadership changes, the stock's technicals suggest traders are more focused on momentum than boardroom drama. As long as PARA stock stays above its key moving averages, the bullish trend remains intact.

With a Golden Cross lighting the way, traders betting on further upside in Paramount Global may just have their signal to stay in the game.

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