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Bearish forecast Elliott Wave pattern Analysis Fibo #Dolby #NYSE

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NYSE:DLB   Dolby Laboratories
Dolby had a near-vertical rally in early March (Wave 5) but has moved sideways since March 10 (Wave A). The high of the pattern is $45.16, and the low is $31.19.
Therefore, waiting for a daily close outside the low (wave a) may confirm the forecast to 0.5 Fibonnaci retracement in wave (c). The trend is up, so a stop beyond $45 and the expectation of a breakout is higher.
Upside target is $39 to $40 ( 50% retracement fibo).