Imax (IMAX) saw a welcome improvement to its Relative Strength (RS) Rating on Tuesday, with an increase from 67 to 71.
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IBD’s proprietary RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock’s price action over the last 52 weeks compares to other publicly traded companies.
Over 100 years of market history shows that the best stocks typically have an 80 or better RS Rating in the early stages of their moves. See if Imax can continue to show renewed price strength and hit that benchmark.
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Imax is now considered extended and out of buy range after clearing a 16.22 buy point in a first-stage cup without handle. See if the stock forms a new chart pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
EPS growth decreased in the company’s latest report from 0% to -457%, but the top line rose from -92% to -57%.
The company holds the No. 9 rank among its peers in the Leisure-Movies & Related industry group. Roku (ROKU) and Netflix (NFLX) are also among the group’s highest-rated stocks.
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The post Stocks With Rising Relative Strength: Imax appeared first on Investor's Business Daily.
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Originally published at https://www.investors.com/ibd-data-stories/stocks-with-rising-relative-strength-imax/ on .
