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Imax Set to Possibly Pullback After Yesterday's Rally of 1.41%

By James Quinn

Imax (NASDAQ:IMAX) traded in a range yesterday that spanned from a low of $33.58 to a high of $34.50. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $34.03 on volume of 436,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Imax have traded between a low of $12.57 and a high of $43.80 and are now at $34.22, which is 172% above that low price. The 200-day and 50-day moving averages have moved 0.31% lower and 0.35% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Imax. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Imax in search of a potential trend change.

Keywords: rebounders

Ticker(s): IMAX