|
|
Homebuilding Industry Stocks Technical Analysis - LENArchive
- 5/10/2024 -
Sign In to see current Signals. |
Lennar Corp. (LEN) Technical Analysis
|
 |
| Summary:
| | Weekly : | | Daily :
Move cursor over the icon to see details.
| | It was a third positive week after 3 consecutive negative weeks for the Lennar Corp. (LEN). During the week, the LEN gained 4.83 points, or 3.06%, and closed at 162.93 on Friday, May 10, 2024. It was the best weekly gain since March 28, 2024. Weekly volume was -41% below average.
LEN is a member of Consumer Discretionary Sector. Consumer Discretionary is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 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 (71.61) 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 trend support level is at 118.77 and resistance is at 172.80. 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 below its signal line since April 12, 2024. Use the following link to access a MACD help.
 Short-term trend: [See LEN short-term trend chart]
A short-term uptrend had started on April 25, 2024 at 148.81 and reached 163.71 on May 10, 2024. LEN gained -14.90 points, or -10.01%, in 15 days. The price is now at the 5.23% retracement level.
 Daily Technical Indicators: [See LEN daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. 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 daily MACD line is above its signal line since May 2, 2024. This is an indication that the short-term trend is up.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
| |
|
|