Wednesday, June 26, 2013

IMAX Corporation (NYSE: IMAX)

IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company specializing in motion picture technologies and presentations worldwide. The company operates in seven segments: IMAX Systems, Theater System Maintenance, Joint Revenue Sharing Arrangements, Film Production and IMAX Digital Re-Mastering (DMR), Film Distribution, Film Post-Production, and Other. The IMAX Systems segment designs, manufactures, sells, or leases IMAX theater projection system equipment. The Theater System Maintenance segment maintains IMAX theater projection system equipment in the IMAX theater network. The Joint Revenue Sharing Arrangements segment provides IMAX theater projection system equipment to an exhibitor in exchange for a share of the box-office and concession revenues. The Film Production and IMAX DMR segment produces films and performs film re-mastering services. The Film Distribution segment distributes films for which the company has distribution rights. The Film Post-Production segment offers film post-production and film print services. The Other segment owns and operates IMAX theaters; rents two-dimensional and three-dimensional (3D) large-format film and digital cameras to third party production companies; and offers after market sales services for projection system components and 3D glasses.
Please take a look at the 1-year chart of IMAX (IMAX Corporation) below with my added notations:
1-year chart of IMAX (IMAX Corporation) IMAX has been holding a very important level of support at $25 (blue) since the middle of February. No matter what the market has or has not done over that period of time, IMAX has held that $25 level, which was also a brief resistance in January. The stock approaching $25 again should provide another bounce higher, but if the overall market continues to sell-off, IMAX could break that support.
The Tale of the Tape: IMAX has a very good level of support at $25. A trader could enter a long position at $25 with a stop placed under the level. If the stock were to break below the support, a short position would be recommended instead.
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