• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Lennar Corp-A (NYSE:LEN)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Lennar Corp-A (NYSE:LEN) based on the price action in the company's shares. Today's price range of $69.04 and $69.50 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Lennar Corp-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Lennar Corp-A (NYSE:LEN) defies analysts with a current price ($69.21) 9.9% above its average consensus price target of $62.35. The stock should find initial support at its 200-day moving average (MA) of $47.88 and further support at its 50-day MA of $46.35.

Lennar Corporation constructs and sells single-family attached and detached homes, as well as buys and sells residential land. The Company also provides mortgage financing, title insurance, commercial real estate, investment management, and other financial services.

In the past 52 weeks, Lennar Corp-A share prices have been bracketed by a low of $39.68 and a high of $70.40 and are now at $69.21, 74% above that low price. The 200-day and 50-day moving averages have moved 0.31% lower and 0.70% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Lennar Corp-A on November 9th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $58.13. Since that recommendation, shares of Lennar Corp-A have risen 19.7%. We continue to monitor LEN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle lennar corp-a

Ticker(s): LEN