What’s pushing Imax Corp. (NYSE:IMAX)?

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Shares of IMAX Corporation (NASDAQ:IMAX) last traded at $26.50. (NASDAQ:IMAX) performance year to date is -15.61%. The 200 day simple moving average is -15.44%. The 200 simple moving average (SMA) is considered a key indicator by traders and market analysts for determining the overall long-term trend. The price level in a market that coincides with the 200 SMA is recognized as a major support when price is above the 200 SMA or resistance when price is below the 200 SMA level.

Imax Corporation is an entertainment technology company, with particular emphasis on film and digital imaging technologies including giant-screen images, 3D presentations, post-production and digital projection. They design and manufacture projection and sound systems for giant-screen theaters and are a producer and distributor of films for giant-screen theaters. They also design and manufacture high performance digital image delivery systems in the form of digital projectors capable of projecting quality images on large screens from any video, computer or HDTV source.

 

The Barchart Technical Opinion rating is a 96% Sell with a Strongest short term outlook on maintaining the current direction. Longer term, the trend strength is Maximum. Long term indicators fully support a continuation of the trend. The market is in highly oversold territory. Beware of a trend reversal.

The Exponential Moving Average (EMA) is similar to a simple moving average (average price over a set period) but it utilizes a weighting factor that exponentially declines from the most recent data point (recent prices are weighted higher than oid prices). EMA analysis compares the short term (5 days and 13 days), intermediate term (20 days) and long term (50 days) EMA’s. The respective EMA’s will give bullish signals when trading above trailing EMA’s and below the current price and vice versa. EMA alerts include crossovers (i.e the 5 day EMA crosses above/below the 20 day EMA) and EMA convergencies (5 day EMA equivalent to 13 day EMA). The 5 day EMA 27.14 is higher than the last trade price suggesting a short term bearish pattern building up. Long term, the 50 day EMA 30.68 is also higher than the current trading price depicting a bearish trend overall..

The relative strength index (RSI) is a momentum oscillator that is able to measure the velocity and magnitude of stock price changes. Momentum is calculated as the ratio of positive price changes to negative price changes. The RSI analysis compares the current RSI against neutral(50), oversold (30) and overbought (70) conditions. Alerts will inform you when stocks recede from oversold/overbought levels or breakthrough neutral (50). The current RSI is 14.33 suggesting a bearish price action.

IMAX Corporation (NASDAQ:IMAX) is all set to announce its earnings on Apr 20/b. As per Zack’s analyst ratings, IMAX Corporation (NASDAQ:IMAX) currently has an average brokerage rating of 1.38. On a scale of 1 to 5, a rating of 1 or 2 would indicate a buy, and a rating of 4 or 5 would signify a sell recommendation. A rating of 3 would indicate a hold on the stock. The consensus target price on (NASDAQ:IMAX) is $39.625 with a high of $46 and a low of $34.

As such, while we believe IMAX Corporation (NASDAQ:IMAX) represents a compelling growth story exposed to several secularly attractive markets, it would be interesting to see how it fairs for long-term investors.

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