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May 28, 2023- Next support is currently 44 cents away at $81.67
- The lower Bollinger Band® is currently at $81.31 while the higher band is at $85.29
A 13 day downtrend has resulted in the asset losing $3.25. With a marginal improvement upon Friday's session, Dolby Laboratories closed a flat day of trading at $82.11 Friday after ending Thursday at $82.19.
Trading mostly sideways for 2 months. Dolby Laboratories hit a significant low of $63.44 around 7 months ago, but has since recovered 29.56%.
Dolby Laboratories, Inc. made an initial breakout above its 10 day Simple Moving Average at $83.24, a potential indicator of a newly emerging bullish phase. Dolby Laboratories's upper Bollinger Band® is at $85.29 and the lower is $81.31. Dolby Laboratories is approaching key support, around 44 cents away from $81.67. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Despite muted price action in Dolby Laboratories, chart analysis indicates it is positioned for a bullish run in the short term.
Meanwhile, mixed performances were seen by other communication services stocks as Netflix traded at $378.88 after closing Friday's trading day at $359 (up 5.54%). Meta Platforms was up 3.7%. AT&T gained 2.31%, as it traded at $15.5.
