- Dolby Laboratories drawing closer to significant resistance at $67.47 with potentially further upside ahead
- Upper Bollinger Band® currently at $67.86
Dolby Laboratories gained 2.29% and stayed at $66.9 levels.
Dolby Laboratories has shed 15% over the past three months.
Despite posting gains on Friday, Dolby Laboratories, Inc. slid below its 21 day Simple Moving Average at $65.49 during the last session — an early indicator that a negative trend could be emerging. Dolby Laboratories's upper Bollinger Band® is at $67.86, this is a slight indication of a slowdown. Dolby Laboratories could be slowing down soon as it approaches resistance at $67.47. Of course, crossing it might suggest further gains are ahead.
Dolby Laboratories is likely to reverse course and start pointing downward in the short term.
This rally in Dolby Laboratories's share price coincided with other communication services stocks as Alphabet was up 3.84%. Meta Platforms was up 2.11%.
While Dolby Laboratories was bullish Friday, the following communication services stocks underperformed: Netflix lost 3.07% Friday and closed at $260.79.
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