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SmarTrend Watching for Potential Rebound in Shares of Lennar Corp-A After 7.56% Loss

By Amy Schwartz

Lennar Corp-A (NYSE:LEN) traded in a range yesterday that spanned from a low of $47.96 to a high of $53.50. Yesterday, the shares fell 7.6%, which took the trading range below the 3-day low of $51.23 on volume of 8.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Lennar Corp-A share prices have been bracketed by a low of $37.29 and a high of $55.77 and are now at $48.87, 31% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

SmarTrend is tracking the current trend status for Lennar Corp-A and will alert subscribers who have LEN in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders lennar corp-a

Ticker(s): LEN