Lennar $LEN is Weak on a Near and Midterm Basis, in Charts
Lennar (NYSE:LEN) is Weak on a Near and Midterm Basis. Details are provided in Charts and Summary Table.
Review the Trading Plans:
Long Term Trading Plans for LEN
May 16, 2018, 1:00 pm ET
The technical Summary and associated Trading Plans for LEN listed below will help you make important timing decisions for your trades. This data is based on our proprietary analysis for LEN. In addition we offer Market Timing Models and Stock Filters in the links above which may increase the proficiency of the decisions you make.
LEN - (Long) Support Plan
Buy over 50.22 target 60.85 stop loss @ 49.96.
The technical summary data tells us to buy LEN near 50.22 with an upside target of 60.85. This data also tells us to set a stop loss @ 49.96 to protect against excessive loss in case the stock begins to move against the trade. 50.22 is the first level of support below 50.53 , and by rule, any test of support is a buy signal. In this case, support 50.22 would be being tested, so a buy signal would exist.
LEN - (Short) Resistance Plan
Short under 60.85 target 50.22 stop loss @ 61.11.
The technical summary data is suggesting a short of LEN as it gets near 60.85 with a downside target of 50.22. We should have a stop loss in place at 61.11 though. 60.85 is the first level of resistance above 50.53, and by rule, any test of resistance is a short signal. In this case, if resistance 60.85 is being tested, so a short signal would exist.