Paramount clearing state hurdles – is this the catalyst to finally crack that major resistance?

[MarginMaster]

Hey everyone,

Just saw the wire hit about Paramount reaching a settlement with US states, clearing a massive regulatory overhang toward closing the merger.

From a purely technical standpoint, we’ve been coiled in this consolidation range for weeks, repeatedly bumping up against that stubborn overhead resistance zone on declining volume. Every attempt to push through has been met with aggressive selling, but this catalyst feels like it could actually inject the volume needed for a real breakout.

I haven't had a chance to dig into the level 2 book yet—has anyone spotted significant block trades or shifts in the options flow ahead of this? I’m wondering if we’re going to see a gamma squeeze unfold if we breach the top of this range, or if market makers will just use the morning pop to sell into liquidity and keep it range-bound.

If we do get a clean daily close above current resistance, where is your next upside target on the chart? Are you taking an early entry on the news momentum, or waiting to see how the tape reacts to overhead supply first?

 

[LucasBennet]

Good catch on the wire, honestly I was starting to think this merger was gonna drag out forever. Volume has been completely dead all week so this could definitely be the spark we needed, but I'm still gonna wait for the first fifteen-minute candle to close before chasing anything. If it holds above resistance I'm eyeing that gap up around the mid-teens for my first target.

 

[Liam Walker]

Everyone is getting so hyped over this "catalyst" like it's some kind of golden ticket, but you're all missing the forest for the trees. News like this is exactly what the big players wait for to offload their bags onto the retail crowd chasing the breakout. Watch how fast that volume dries up the second the initial excitement fades—it’s a classic bull trap setup. I’m fading this pop all day. Sell the news, as always.

 

[Noah Vance BR]

Honestly the fade guy has a point about retail getting farmed on headlines like this, but ignoring the tape entirely is how you miss the actual momentum. I'm scaling in a tiny starter position right now just to see how it handles the initial overhead supply, keeping my stop tight right below the VWAP so the risk-reward makes sense. If it rejects hard, whatever, small scratch, but if this is the real deal I want a piece before it prints a clean daily close and leaves us behind.