Price action honing in on likely support at $81.57
Falling prices have precipitated Dolby Laboratories's approach to its lower Bollinger Band® at $82.13

Dolby Laboratories's downtrend has seen it decline 4.61% in 10 days Yesterday's session continued down the same path: grinding lower but with no clear-cut direction, the US audio specialist closed the session at $81.95 after forming a distinct $81.95 – $83.03 range.

Trading mostly sideways for a month. Dolby Laboratories hit a significant low of $63.44 around 6 months ago, but has since recovered 29.93%.

Analysis of Dolby Laboratories's recent price action suggests Dolby Laboratories, Inc. could begin to recover as it approaches significant support, now 38 cents away from $81.57. Dipping below could be an indication that further losses are ahead. With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Asset volatility analysis shows that Dolby Laboratories's lower Bollinger Band® is at $82.13, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

With market volatility ebbing, the current technical outlook indicates Dolby Laboratories will remain range-bound for the immediate future.

Fundamental indicators – highly important Crude Oil Inventories data from United States beat analyst expectations of -1.49 million with a reading of -5 million.

Dolby Laboratories was not the only decliner in the communication services sector; AT&T went down to $17.2, losing 1.77% after it closed at $17.51 yesterday. Verizon went down 1.02%, closed at $37.3.

On the other hand, positive performances could be seen by looking at other communication services stocks as Meta Platforms was up 0.89%.

Upcoming fundamentals: today at 14:00 UTC data for United States Pending Home Sales will be released, with an expected decline to 0.5% from the preceding figure of 0.8%.