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Downtrend ResistanceArchive
- 4/5/2024 -
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Lennar Corp. (LEN) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Lennar Corp. (LEN). During the week, the LEN dropped -5.76 points, or -3.35%, and closed at 166.22 on Friday, April 5, 2024. Weekly volume was 6% 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 172.59 on March 28, 2024. LEN gained -169.17 points, or -4946.49%, in 800 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (71.18) 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 172.59 on March 28, 2024. LEN gained -110.04 points, or -175.92%, in 92 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (168.04). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See LEN weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 28, 2024 at 172.59 and reached 160.27 on April 2, 2024. LEN lost 12.32 points, or 7.14%, in 5 days. The price is now at the 48.30% retracement level.
 Daily Technical Indicators: [See LEN daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
 Candlestick pattern: [See LEN candlestick chart pattern]
On Friday the chart has formed a Bullish Piercing Line Candlestick pattern. This pattern suggests bulls have begun to take charge of the market, and shorts have been shaken by the sudden lost of bearish momentum. The reliability of the Bullish Piercing Line pattern is moderate. Use the Technical Stock Screener to see the list of stocks that had a Bullish Piercing Line Candlestick pattern during the last week.
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