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After Yesterday's Rally of 2.24% Shares Could Potentially Pullback

By Shiri Gupta

Lennar Corp-A (NYSE:LEN) traded in a range yesterday that spanned from a low of $58.70 to a high of $60.57. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $59.74 on volume of 1.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Lennar Corp-A share prices have moved between a 52-week high of $72.17 and a 52-week low of $39.68 and are now trading 52% above that low price at $60.36 per share. 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 its subscribers protect gains by selling shares of Lennar Corp-A on January 26th, 2018 by issuing a Downtrend alert when the shares were trading at $68.10. Since that call, shares of Lennar Corp-A have fallen 13.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders lennar corp-a

Ticker(s): LEN