Imax's stock is down 0.3% to $25.42 on heavy trading volume. Today's volume of 908,000 shares tops the average 30-day volume of 665,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.
Imax (NASDAQ:IMAX) has potential upside of 17.4% based on a current price of $25.42 and analysts' consensus price target of $29.85. Imax shares should encounter resistance at the 50-day moving average (MA) of $26.37 and support at its 200-day MA of $23.11.
Imax Corporation designs and manufactures projection and sound systems for giant-screen theaters and designs custom attractions, including motion simulation theaters, for both large-scale attractions and smaller venues. The Company also manufactures digital image delivery systems in the form of digital projectors.
In the past 52 weeks, shares of Imax have traded between a low of $12.57 and a high of $38.00 and are now at $25.42, which is 102% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.3%.