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Uptrend ExhaustionArchive - 3/15/2024 - Sign In to see current Signals. |
Lennar Corp. (LEN) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the Lennar Corp. (LEN). During the week, the LEN dropped -7.62 points, or -4.64%, and closed at 156.57 on Friday, March 15, 2024. Weekly volume was 61% above average. Long-term trend: [See LEN long-term trend chart] A long-term uptrend had started on November 21, 2008 at 3.42 and reached 167.49 on March 13, 2024. LEN gained -164.07 points, or -4797.37%, in 798 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (70.93) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend. Medium-term trend: [See LEN medium-term trend chart] A medium-term uptrend had started on June 17, 2022 at 62.55 and reached 167.49 on March 13, 2024. LEN gained -104.94 points, or -167.77%, in 90 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 114.05 and resistance is at 165.38. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend. Weekly Technical Indicators: [See LEN weekly technical indicators chart] Weekly technical indicators are neutral. The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help. Short-term trend: [See LEN short-term trend chart] A short-term downtrend had started on March 13, 2024 at 167.49 and reached 151.52 on March 15, 2024. LEN lost 15.97 points, or 9.53%, in 2 days. The price is now at the 31.62% retracement level. Daily Technical Indicators: [See LEN daily technical indicators chart] Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help. During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal. During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level. During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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