Dolby Laboratories Stock Forecast
Dolby Laboratories stock price ended at $78.29 on Thursday, after gaining 0.398%.
(Updated on Apr 18, 2024)
The Dolby Laboratories stock price gained 0.398% on the last trading day (Thursday, 18th Apr 2024), rising from $77.98 to $78.29. During the last trading day the stock fluctuated 1.24% from a day low at $77.54 to a day high of $78.50. The price has risen in 6 of the last 10 days but is still down by -4.68% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 thousand more shares were traded than the day before. In total, 229 thousand shares were bought and sold for approximately $17.96 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $77.43 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Dolby Laboratories stock with a 90% probability to be traded between $76.66 and $82.98 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
DLB Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.398%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Dolby Laboratories stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $79.51 and $82.37. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Wednesday, April 17, 2024 and based on theory for this formation the price should go up by 14.01% to $89.26 within 44 trading days since signal was issued (Friday, April 19, 2024).
Support, Risk & Stop-loss for Dolby Laboratories stock
Dolby Laboratories finds support from accumulated volume at $78.06 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.97 (1.24%) between high and low. For the last week, the stock has had daily average volatility of 1.61%.
Dolby Laboratories is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DLB) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Dolby Laboratories to open at $78.11, and during the day (based on 14 day Average True Range), to move between $77.07 and $79.51, which gives a possible trading interval of +/-$1.22 (+/-1.55%) up or down from last closing price. If Dolby Laboratories takes out the full calculated possible swing range there will be an estimated 3.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $78.06 (0.29%) than the resistance at $80.26 (2.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Dolby Laboratories stock A Buy?
Dolby Laboratories holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.579 Sell Candidate Unchanged
Predicted Opening Price for Dolby Laboratories of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $78.11 ( 0.232%) | $78.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DLB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 79.07 | 1.00 % | |
| R2 | 78.70 | 0.530 % | ||
| R1 | 78.48 | 0.239 % | ||
| Current price: | 78.29 | |||
| Support | S1 | 77.74 | -0.703 % | |
| S2 | 77.51 | -0.99 % | ||
| S3 | 77.14 | -1.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 85.76 | 9.54 % | |
| R2 | 85.19 | 8.81 % | ||
| R1 | 80.26 | 2.52 % | ||
| Current price | 78.29 | |||
| Support | S1 | 78.06 | -0.294% | |
| S2 | 78.04 | -0.319% | ||
| S3 | 77.98 | -0.396% |
DLB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 01, 2024 | Feb 12, 2024 | Feb 22, 2024 | $0.300 | 0.376% |
| 2 | Nov 27, 2023 | Nov 27, 2023 | Dec 05, 2023 | $0.300 | 0.343% |
| 3 | Aug 03, 2023 | Aug 11, 2023 | Aug 22, 2023 | $0.270 | 0.325% |
| 4 | May 04, 2023 | May 15, 2023 | May 23, 2023 | $0.270 | 0.326% |
| 5 | Feb 02, 2023 | Feb 13, 2023 | Feb 22, 2023 | $0.270 | 0.328% |
FAQ
Click here for our free guide on how to buy Dolby Laboratories Stock.
