Reviews starting to come in on Iron Man 2.Rotten Tomatoes has a 76 rating, which is basically failproof, especially after 49 reviews. Once IM2 hits the states, the cash registers will ring. Question is, will that help IMAX shares or are expectations already baked in?
There's room for a few more bucks, particularly with this recent dip to 19. All matters not, of course, if the market takes a serious nosedive. Greece is getting a 120-million euro bailout and futures are slightly up.
It would be odd, peculiar even, if a blockbuster film kept IMAX shares climbing upward in a flat, neutral market this week. It's been a long, long time since I saw a film boost a stock; I didn't touch IMAX before Avatar came out. But I do remember When You've Got Mail and buying AOL the day before that release. A few bucks of profit resulted.
As for the chart, the selling pressure remains powerful, but as shares have neared their trend line and support level (19), it remains uncertain how bears will continue gaining momentum against A) IMAX's substantial earnings growth, and B) the coming blockbuster of IM2.
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