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Monday, August 13, 2018 12:28:43 PM
This morning, most of the leading home-builder stocks are coming under selling pressure. Home-builder stocks such as Lennar Corp (NYSE:LEN), Toll Brothers Inc (NYSE:TOL), DR Horton Inc (NYSE:DHI) and other are all trading lower by more than 3.0 percent today. Many investors are blaming the recent Redfin Corp (NASDAQ:RDFN) guidance for the decline in the home-building sector, but the industry group has been slumping since the start of 2018.
Lennar Corp (NYSE:LEN) is one particular home-builder that has caught my eye. This stock topped out on January 22, 2018 at $72.17 a share. Since that high pivot, the stock has steadily declined lower throughout the year. Today, LEN stock is trading down by $2.43 to $50.94 a share. Traders should note that the stock has been trading in a sideways range since mid-May. This pattern tells me that there is one more move lower to go before the stock finds a defined bottom. Traders and investors must now watch the $45.00 area as the next major support level for the home-builder. This is where the stock broke out in February 2017. Very often, prior break-out levels will serve as major support when retested.
![](http://www.inthemoneystocks.com/images/LEN%208.13.18.png)
Nicholas Santiago
InTheMoneyStocks
Recent LEN News
- Lennar Corporation Declares Quarterly Dividends • PR Newswire (US) • 06/20/2024 08:30:00 PM
- Fisker Files for Bankruptcy, Chegg Stocks Rise on 23% Workforce Reduction, and More • IH Market News • 06/18/2024 11:02:13 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/17/2024 08:31:36 PM
- Lennar Reports Second Quarter 2024 Results • PR Newswire (US) • 06/17/2024 08:30:00 PM
- U.S. Index Futures Mixed; Commodities and Global Markets Update • IH Market News • 06/17/2024 10:50:33 AM
- Quarterra Multifamily Announces the Start of Leasing at Dryden Apartments • PR Newswire (US) • 06/07/2024 01:18:00 PM
- LENNAR CORPORATION'S SECOND QUARTER EARNINGS CONFERENCE CALL TO BE BROADCAST LIVE ON THE INTERNET • PR Newswire (US) • 06/04/2024 08:30:00 PM
- Quarterra Multifamily Announces the Start of Construction at Renata Apartments • PR Newswire (US) • 06/04/2024 06:45:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/03/2024 09:06:09 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/03/2024 08:39:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/03/2024 08:30:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 08:16:47 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/16/2024 08:17:22 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/14/2024 08:18:44 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/10/2024 08:54:15 PM
- Lennar Corporation Declares Quarterly Dividends • PR Newswire (US) • 04/10/2024 08:30:00 PM
- Quarterra Multifamily Announces the Start of Leasing at Emblem Conyers Apartments • PR Newswire (US) • 04/02/2024 02:10:00 PM
- Quarterra Multifamily Announces the Continued Growth of its Emblem Communities Development Program • PR Newswire (US) • 03/28/2024 02:16:00 PM
- Fisker’s Shares Take a Hit Amid Speculation of Bankruptcy, Altria Divests from AB InBev to Fund Stock Repurchase Initiative • IH Market News • 03/14/2024 11:39:32 AM
- Lennar Reports First Quarter 2024 Results • PR Newswire (US) • 03/13/2024 08:30:00 PM
- Mixed Futures Amidst Quiet Economic Schedule; Oil Prices Climb • IH Market News • 03/13/2024 11:03:39 AM
- LENNAR CORPORATION'S FIRST QUARTER EARNINGS CONFERENCE CALL TO BE BROADCAST LIVE ON THE INTERNET • PR Newswire (US) • 02/29/2024 09:30:00 PM
- LENNAR BEGINS SALES AT STONEGATE PRESERVE, NEW AMENITY-RICH MASTER-PLANNED COMMUNITYIN PALMETTO, FLORIDA • PR Newswire (US) • 02/02/2024 10:27:00 PM
- Quarterra Multifamily Announces the Start of Leasing at Kindred Apartments • PR Newswire (US) • 01/11/2024 06:40:00 PM
- Lennar Corporation Increases Annual Dividend to $2.00 Per Share and Share Repurchase Authorization by $5 billion • PR Newswire (US) • 01/09/2024 10:30:00 PM
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Green Leaf Innovations, Inc. Expands International Presence with New Partnership in Dubai • GRLF • Jun 24, 2024 8:30 AM