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5 Stocks Insiders Love Right Now

Stocks in this article: IMAX GEVA DECK PAY HSON


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One stock that insiders are snapping up a huge amount of is Imax (IMAX), which, together with its wholly owned subsidiaries, operates as an entertainment technology company specializing in motion picture technologies and presentations worldwide.. Insiders are loading up on this stock into strength, since shares are up a whopping 38% so far in 2012.

Imax has a market cap of $1.67 billion and an enterprise value of $1.62 billion. This stock trades at a premium valuation, with a trailing price-to-earnings of 89 and a forward price-to-earnings of 22.38. Its estimated growth rate for this year is 135%, and for next year it's pegged at 21.3%. This is not a cash-rich company, since the total cash position on its balance sheet is $21.59 million, and its total debt is $55 million.

A beneficial owner just bought 183,600 shares, or about $4.3 million worth of stock, at $22.62 to $24.11 per share. This same beneficial owner also just bought 326,400 shares, or about $7.49 million worth of stock, at $22.91 to $23.04 per share.

>>5 Stocks Poised for Breakouts

From a technical perspective, IMAX is currently trading above both its 50-day and 200-day moving averagew, which is bullish. This stock recently bounced right off its 50-day at $22.50 a share, and it has now started enter breakout territory, with the stock moving above some near-term overhead resistance at $25.12 to $25.34 a share. That move started on Tuesday, and it was accompanied by massive upside volume of 3.34 million shares.

If you're bullish on IMAX, then I would look for long-biased trades once it triggers its next major breakout trade above some past overhead resistance levels at $26.48 to $26.68 a share with high volume. Look for volume on that breakout that registers near or above its three-month average action of 1.3 million shares. If we get that move soon, then IMAX could easily spike north of $30 a share.

I would avoid IMAX or look for short-baized trades if it fails to hold that near-term breakout over $25.12 to $25.34 a share, and then drops back below its 50-day at $22.50 and 200-day at $21.58 with high volume. If we get that action, then look for IMAX to trend back below $20 a share.

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