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Imax Crosses Below its 10-day MA (IMAX)

By Shiri Gupta

Today, shares of Imax (NASDAQ:IMAX) have fallen below their 10-day MA of $26.71 on a volume of 237K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Imax has traded in a range of $12.57 to $43.80 and is now at $26.35, 110% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Imax on April 12th, 2017 by issuing a Downtrend alert when the shares were trading at $31.97. Since that call, shares of Imax have fallen 15.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses

Ticker(s): IMAX