Playing the Setup in IMAX
Published on Thursday, 09 August 2012 08:24 Written by TradersHuddle Wire
New York, August 9th (TradersHuddle.com) - Imax Corporation (NYSE:IMAX) closed the the trading session at $21.67, near its 50 day and 200 day moving averages currently set at $22.55 and $22.10 respectively. IMAX's price action places the stock below these important levels, which makes it difficult to be bought, as it will certainly face resistance as it approaches these important moving averages.
Imax Corporation (NYSE:IMAX) specializes in motion picture technologies and large-format film presentations. The company designs and manufactures projection and sound systems for large-screen theaters and designs custom attractions, including motion simulation theaters, for both large-scale attractions and smaller venues.
The latest price action range, defined by a peaks and troughs algorithm, placed calculated support at $21.11 and resistance at $25.99. Traders should monitor these levels, as they provide insight into the latest price dynamics in IMAX.
If traders want to establish a position on IMAX, given the heavy resistance expected near the 50 and 200 day moving averages, a trade might be evident as the stock manages to break these moving averages. However, until the break materializes buying the stock is nothing different than flipping a coin.
- IMAX Is Moving Above Resistance
- IMAX Corporation to Present at the 14th Annual B. Riley & Co. Investor Conference
- Paramount Pictures And Skydance Productions' Star Trek Into Darkness™ Opens Strong In IMAX® 3D Theatres, Grossing $13.6 Million Domestically
- Jean-Pierre Jeunet's The Young and Prodigious T.S. Spivet™ Journeys Into IMAX® 3D Theatres In France Beginning Oct. 16
- Roger Pollock Joins IMAX as Head of International Film Marketing
- IMAX Is Near its 50 Day Moving Average
- IMAX Is Near Resistance
- IMAX Corporation to Present at May Investor Conferences in New York
- Is IMAX Closing in to Resistance?
- Marvel's 'Iron Man 3' Has Record-breaking Global Weekend In IMAX® Theatres Worldwide, Grossing $28.6 Million
Related Partner Headlines
- IMAX, Warner Bros. Pictures Agree to 20-Picture Deal - Benzinga
- Warner Bros.' The Dark Knight Rises Crosses $100 Million Milestone In IMAX Theatres - Benzinga
- Piper Jaffray Reiterates Overweight Rating, $32 PT on IMAX - Benzinga
- Imax Corporation Stock Upgraded (IMAX) - TheStreet.com
- Warner Bros.' The Dark Knight Rises Generates Strongest-Ever Second-Weekend Results In IMAX® Theatres - Benzinga
- UPDATE: Wedbush Downgrades IMAX to Neutral, Lowers PT - Benzinga
- IMAX Expands Partnership With VieShow Cinemas In Three-Theatre Deal - Benzinga
- UPDATE: Goldman Sachs Initiates IMAX Corporation at a Buy Rating - Benzinga
- IMAX and TGV Cinemas Expand Joint Revenue Share Agreement With Seven Additional IMAX® Theatres in Malaysia - Benzinga
- IMAX And AMC Entertainment Expand Joint Revenue Sharing Partnership - Benzinga
Recent Trading Ideas
Is Priceline.com Coming Down?
Google Is Near a Key Resistance Area
Above Resistance: United Technologies
Trading Idea: What to Expect as Devon Energy Breaks Resistance
Micron Technology Is Near a Key Resistance Area
IMAX Is Moving Above Resistance
Trading Idea: - Is Bank of America close to Resistance?
Latest Partner Headlines
Dow Today: Verizon Communications (VZ) Higher - TheStreet.com
Separating the Bargains From the Busts - TheStreet.com
Cramer Quick Take: The 60-Inch TV Will Be Key This Holiday - TheStreet.com
Cramer Quick Take: Cisco Wins If Fiscal Cliff Is Resolved - TheStreet.com
Gap Up and Sit - TheStreet.com
Apple, Intel, MicroStrategy: Tech Winners & Losers - TheStreet.com
Windows 8 PC Sales Disappointing: Report - TheStreet.com
Cramer Quick Take: Buy Home Depot and Lowe's - TheStreet.com
Dow JonesCompany ID [INDEXDJX:.DJI] Last trade:15,405.36 Trade time:1:31PM EDT Value change:▲70.08 (0.46%)
S&P 500Company ID [INDEXSP:.INX] Last trade:1,672.18 Trade time:1:31PM EDT Value change:▲5.89 (0.35%)
NASDAQCompany ID [INDEXNASDAQ:.IXIC] Last trade:3,507.83 Trade time:1:31PM EDT Value change:▲11.40 (0.33%)
In The Wires
NCI Building Systems Second Quarter Fiscal 2013 Conference Call On The Internet
AEP Announces Live Webcast Of Presentation By CEO At Sanford Bernstein Conference May 29
Morguard Sunstone Real Estate Income Fund Announces May Distribution
Pure Multi-Family REIT LP Announces May Distribution
WesternOne Inc. Announces Cash Distribution for May 2013
Boardwalk Rental Communities Sponsors the Walk for Wellspring in London, ON.
U.S. Smartphone Users Spend More Time With Their Phones Than U.K. and China Smartphone Users
Northrop Grumman Will Help U.S. Navy Mature Laser Weapon Systems, Components for Surface Self-Defense Missions