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June 28, 2023- Next support is currently 68 cents away at $81.06
- Lower Bollinger Band® at around $81
While Dolby Laboratories is on a 3 day uptrend Now turning against its recent performance, Dolby Laboratories is down to $81.74, after ending yesterday at $82.3. Overall, a 0.68% loss or 56 cents today.
Trading mostly sideways for 3 months. Dolby Laboratories hit a significant low of $63.44 around 8 months ago, but has since recovered 29.73%.
Dolby Laboratories, Inc.'s lower Bollinger Band® is at $81, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Dolby Laboratories could begin to recover as it approaches significant support, now 68 cents away from $81.06. Dipping below could be an indication that further losses are ahead.
Despite suffering losses in today's session, technical analysis is indicating that Dolby Laboratories will undergo a significant bounce in the immediate term.
Fundamental indicators – United States New Home Sales (May) came out at 763,000, while a consensus of analysts was expecting 675,000.
Dolby Laboratories's stock value drop coincides with after closing the previous session (yesterday) at $15.84, AT&T lost 12 cents and is trading around $15.72. Verizon is down to $36.37, losing 0.51%, after ending yesterday at $36.55.
Positive performances can be seen by looking at other communication services stocks as Netflix gained 2.15%, currently at $426.05.
Upcoming fundamentals: United States Crude Oil Inventories is projected to outperform its last figure with -1.76 million, having previously been at -3.83 million. The figure will be published today at 14:30 UTC.
