Imax stock saw a welcome improvement to its Relative Strength (RS) Rating on Monday, rising from 64 to 83.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique rating identifies price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the best-performing stocks typically have an RS Rating north of 80 as they begin their biggest price moves.
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Is Imax Stock A Buy?
Imax stock has risen more than 5% past a 16.22 entry in a first-stage cup without handle, meaning it's now out of a proper buy range. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company reported 0% earnings growth in its most recent report, while sales growth came in at 21%.
Imax stock holds the No. 2 rank among its peers in the Leisure-Movies & Related industry group. Imax and Marcus Corp are also among the group's highest-rated stocks.
