After Yesterday's Rally of 2.54% Shares Could Potentially Pullback
Dolby Laboratories (NYSE:DLB) traded in a range yesterday that spanned from a low of $44.80 to a high of $46.12. Yesterday, the shares gained 2.5%, which took the trading range above the 3-day high of $45.07 on volume of 196,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of Dolby Laboratories on January 28th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.03. Since that recommendation, shares of Dolby Laboratories have risen 28.4%. We continue to monitor DLB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Over the past year, Dolby Laboratories has traded in a range of $29.87 to $48.70 and is now at $45.74, 53% above that low. The 200-day and 50-day moving averages have moved 0.47% higher and 1.35% higher over the past week, respectively.
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