Dolby Laboratories overcomes resistance at $82.8; now eyeing $83.56
Known Fib level $82.73 serving as battleground for bulls and bears

Dolby Laboratories has posted further gains as part of a 3 day trend that has already seen the stock gain 81 cents. Today's session so far looks to be heading in the same direction — the US audio specialist rallies 1.69% and stays at the $83.25 level.

Trading mostly sideways for 2 months. 7 months ago, the consumer audio electronics company fell to a low of $63.44 but has since recovered 29.05%.

Technical analysis trend indicators suggest that Dolby Laboratories, Inc. made an initial breakout above its 10 day Simple Moving Average at $82.48, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $82.73 currently serving as resistance Japanese candlestick formations show a Bearish Harami chart pattern, which is a means of predicting reversals in bull markets. When a Bearish Harami is detected at the top of a prevailing uptrend, it is typically considered a bearish signal and a prelude to a potential trend reversal. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $85.42, thereby suggesting that Dolby Laboratories is becoming overvalued. Dolby Laboratories chart analysis: Dolby Laboratories broke through the $82.8 resistance and climbed above it 45 cents; next resistance level is at $83.56.

Notwithstanding Dolby Laboratories's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

Fundamental indicators – data for United States Non Farm Payrolls published today at 12:30 UTC came out at 339,000, beating projections of 180,000 and showing improvement over the preceding figure of 294,000.

While Dolby Laboratories is higher so far today, these communication services stocks are struggling: after closing the previous session (yesterday) at $35.72, Verizon lost $1.06 and is trading around $34.66. AT&T is down to $15.13, losing 4.27%, after ending yesterday at $15.81. After closing the previous session (yesterday) at $138.91, T-Mobile lost $9.34 and is trading around $129.57.