- Nearest support line of $70.21 is only 59 cents away
Having fallen $5.09 in 11 days, Friday's session continued the recent downtrend: in Friday's bearish session, the consumer audio electronics company shed around 0.38% in quick fashion, found support around the $70.11 level and finally closed at $70.8. In contrast, the day's events followed Thursday's session in which the stock closed at $71.07.
Dolby Laboratories hit a significant low of $63.44 around 2 months ago, but has since recovered 12.03%.
A study of Dolby Laboratories's historical price actions shows although Dolby Laboratories, Inc. is down today and was as low as $70.11, it seems to be recovering slightly and climbing away from the $70.21 support line and is now 59 cents above it.
Dolby Laboratories was not the only decliner in the communication services sector; Verizon lost 1.72% Friday and closed at $37.12.
On the other hand, positive performances could be seen by looking at other communication services stocks as Meta Platforms traded at $119.43 after closing Friday's trading day at $116.15 (up 2.82%). T-Mobile traded at $142.36 after closing Friday's trading day at $140.2 (up 1.54%).
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