- Despite dipping below $75.09 as support, market bulls are still in control
- Dolby Laboratories's upper Bollinger Band® is at $76.03 which indicates a further downward move may follow.
Though in the midst of a 15 day uptrend, gaining a total of 10.82%, ($7.84), Yesterday's session suggests run might be coming to an end — the consumer audio electronics company has recovered almost all of its session losses after dipping down to $75.04 yesterday.
The US audio specialist has managed to gain 6.33% so far this year despite trading at lows around $63.44 previously.
Technical chart analysis shows Dolby Laboratories, Inc. could begin to recover as it approaches significant support, now 49 cents away from $75.09. Dipping below could be an indication that further losses are ahead. Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to asset volatility analysis, Dolby Laboratories's upper Bollinger Band® is at $76.03 which indicates a further downward move may follow.
Overall, while Dolby Laboratories has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Fundamental indicators – United States Consumer Price Index released yesterday at 13:30 UTC with a figure of -0.1%, while the previous figure was 0.1%.
On the other hand, positive performances could be seen by looking at other communication services stocks as Meta Platforms was up 2.87%. Verizon was up 1.53%. Comcast was up 1.95%.