Dolby Laboratories Stock Forecast
Stronger technical forecast for Dolby Laboratories stock price after Wednesday trading.
(Updated on May 01, 2024)
The Dolby Laboratories stock price fell by -0.103% on the last day (Wednesday, 1st May 2024) from $77.66 to $77.58. During the last trading day the stock fluctuated 1.32% from a day low at $77.49 to a day high of $78.51. The price has risen in 6 of the last 10 days but is still down by -0.51% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -12 thousand shares and in total, 322 thousand shares were bought and sold for approximately $24.98 million.
Given the current horizontal trend, you can expect Dolby Laboratories stock with a 90% probability to be traded between $77.41 and $83.87 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.
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DLB Signals & Forecast
There are few to no technical positive signals at the moment. 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 $78.92 and $81.45. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -7.81%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Dolby Laboratories stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $1.03 (1.32%) between high and low. For the last week, the stock has had daily average volatility of 1.66%.
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 Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Dolby Laboratories to open at $77.86, and during the day (based on 14 day Average True Range), to move between $76.36 and $78.80, which gives a possible trading interval of +/-$1.22 (+/-1.57%) up or down from last closing price. If Dolby Laboratories takes out the full calculated possible swing range there will be an estimated 3.14% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $78.97, some $1.39 (1.79%) from the current price of $77.58, our system finds the risk reward not very attractive.
Earnings coming up
Dolby Laboratories will release earnings AMC on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.17. We will update the financials statements for Dolby Laboratories, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.35% in the first trading day after earnings release.
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.508 Sell Candidate Upgraded
Predicted Opening Price for Dolby Laboratories of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $77.86 ( 0.359%) | $77.58 |
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 | 78.88 | 1.68 % | |
| R2 | 78.49 | 1.18 % | ||
| R1 | 78.25 | 0.86 % | ||
| Current price: | 77.58 | |||
| Support | S1 | 77.47 | -0.146 % | |
| S2 | 77.22 | -0.458 % | ||
| S3 | 76.83 | -0.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 83.39 | 7.49 % | |
| R2 | 80.26 | 3.45 % | ||
| R1 | 78.97 | 1.79 % | ||
| Current price | 77.58 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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
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