On Friday, Imax received a positive adjustment to its Relative Strength (RS) Rating, from 84 to 92.
IBD's unique rating identifies price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
History shows that the best stocks typically have an RS Rating of above 80 in the early stages of their moves.
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Imax has climbed more than 5% past a 22.13 entry in a second-stage consolidation, meaning it's now out of a proper buy zone. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Earnings growth moved up in the company's most recent report from -31% to 0%, but the top line fell from -9% to -12%.
Imax earns the No. 6 rank among its peers in the Leisure-Movies & Related industry group. Netflix, Cinemark Holdings and Marcus Corp are among the top 5 highly rated stocks within the group.
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