Lennar Corporation, together with its subsidiaries, engages in
homebuilding, financial services, and real estate businesses in the
United States. The company operates in Homebuilding East, Homebuilding
Central, Homebuilding West, Homebuilding Southeast Florida, Homebuilding
Houston, Financial Services, and Rialto Investments segments. Its
homebuilding activities primarily include the construction and sale of
single-family attached and detached homes, as well as the purchase,
development, and sale of residential land. The company also offers
financial services, including mortgage financing, title insurance, and
closing services for buyers and others. In addition, it is involved in
sourcing, underwriting, pricing, managing, and monetizing real estate
and real estate related assets, as well as provision of real estate
capital and asset management services.
Please take a look at the 1-year chart of LEN (Lennar Corporation) below with my added notations:
After sliding lower from May through August, LEN finally found its
footing. Since then the stock has hit a key resistance level at around
$38 (blue) multiple times. Two weeks ago LEN finally broke out above
that important $38 level and is now pulling back to it. The stock should
be moving overall higher from here, assuming it holds above $38.
The Tale of the Tape: LEN had a key level of
resistance at $38 that should now act as support on any pullbacks. A
long trade could be entered on a pullback to $38 with a stop placed
below that level. A break back below $38 could negate the forecast for a
move higher.
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