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

By Amy Schwartz

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 $61.10 and $61.95 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.

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

Dolby Laborato-A (NYSE:DLB) has potential upside of 11.9% based on a current price of $61.82 and analysts' consensus price target of $69.20. The stock should find initial resistance at its 50-day moving average (MA) of $61.94 and further resistance at its 200-day MA of $63.41.

Over the past year, Dolby Laborato-A has traded in a range of $56.09 to $71.77 and closed yesterday at $61.82, 10% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has remained constant.

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