Thursday, September 21, 2017 11:23:36 AM
Is Lennar Corp(NYSE:LEN) Signaling Lower Prices For Home-builders?
Leading home-builder stock Lennar Corp(NYSE:LEN) has been steadily falling since June 20, 2017. At that time, the stock traded as high as $55.75 a share, since then LEN shares have declined to $50.32 a share. The stock is now trading below its 50-day moving average which puts it in a weak technical position. Should LEN stock trade and close below its 200-day moving average it would be very negative for the stock. Traders and investors will need to watch the $46.00 to $47.00 level as the next major support area for LEN stock. This will likely be a very attractive level for a bounce in the share price.
Nicholas Santiago
InTheMoneyStocks
Leading home-builder stock Lennar Corp(NYSE:LEN) has been steadily falling since June 20, 2017. At that time, the stock traded as high as $55.75 a share, since then LEN shares have declined to $50.32 a share. The stock is now trading below its 50-day moving average which puts it in a weak technical position. Should LEN stock trade and close below its 200-day moving average it would be very negative for the stock. Traders and investors will need to watch the $46.00 to $47.00 level as the next major support area for LEN stock. This will likely be a very attractive level for a bounce in the share price.
Nicholas Santiago
InTheMoneyStocks
