IMAX unable to break through key resistance level
Imax Corporation (IMAX) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
Moving higher for the 5th day in a row, IMAX finished the week 4.79% higher at 25.15 after edging higher $0.05 (0.2%) today. Today's closing price of 25.15 marks the highest close since December 12, 2017. Trading $0.25 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (IMAX as at Sep 14, 2018):
Friday's trading range was $0.45 (1.79%), that's below last trading month's daily average range of $0.62. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.
Unable to break through the key technical resistance level at 25.25, the market closed below it after spiking as high as 25.45 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.