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Lennar (LEN) Approaches New Downside Target of $37.93

Written on Wed, 11/28/2012 - 1:53pm
By David Diaz

Shares of Lennar (NYSE:LEN) opened today below their pivot of $38.81 and have already reached the first level of support at $38.33. Should the shares continue to fall, the support pivots of $37.93 and $37.05 will be of interest.

Over the past year, Lennar has traded in a range of $16.65 to $39.33 and is now at $38.00, 128% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 0.7%.

Lennar (NYSE:LEN) has potential upside of 0.7% based on a current price of $38.00 and analysts' consensus price target of $38.25. The stock should discover initial support at its 50-day moving average (MA) of $37.08 and subsequent support at its 200-day MA of $30.25.

SmarTrend is monitoring the recent change of momentum in Lennar. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Lennar in search of a potential trend change.

Keywords: pivot alerts Lennar

Ticker(s): LEN

Contact David Diaz



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