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Possible Bullish Inside Day Candle Pattern Detected for Dolby Laborato-A (NYSE:DLB)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Dolby Laborato-A (NYSE:DLB) based on the price action in the company's shares. Yesterday's price range of $55.10 and $55.67 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Dolby Laborato-A may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 21.7% for shares of Dolby Laborato-A based on a current price of $56.87 and an average consensus analyst price target of $69.20. Dolby Laborato-A shares should first meet resistance at the 50-day moving average (MA) of $60.28 and find additional resistance at the 200-day MA of $64.14.

Over the past year, Dolby Laborato-A has traded in a range of $44.68 to $73.20 and closed yesterday at $56.87, 27% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 1.5%.

Dolby Laboratories Inc. develops audio signal processing systems for the motion picture, broadcasting, and music recording industries, as well as the consumer market.

SmarTrend is tracking the current trend status for Dolby Laborato-A and will alert subscribers who have DLB in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle dolby laborato-a

Ticker(s): DLB