Lennar Corporation Stock Forecast
Lennar Corporation stock upgraded to Strong Buy Candidate.
(Updated on Mar 27, 2024)
The Lennar Corporation stock price gained 1.78% on the last trading day (Wednesday, 27th Mar 2024), rising from $165.56 to $168.50. During the last trading day the stock fluctuated 1.36% from a day low at $166.35 to a day high of $168.61. The price has risen in 7 of the last 10 days and is up by 1.81% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 275 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $219.34 million.
The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $169.17 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 11.73% during the next 3 months and, with a 90% probability hold a price between $173.72 and $189.02 at the end of this 3-month period.
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LEN Signals & Forecast
The Lennar Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $165.04 and $158.48. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 10.23%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Lennar Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $153.35 and $152.86. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Lennar Corporation finds support just below today's level at $153.35. If this is broken, then the next support from accumulated volume will be at $152.86 and $147.59.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.26 between high and low, or 1.36%. For the last week, the stock has had daily average volatility of 1.30%.
Our recommended stop-loss: $161.96 (-3.88%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (LEN) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Lennar Corporation to open at $167.82, and during the day (based on 14 day Average True Range), to move between $164.69 and $172.31, which gives a possible trading interval of +/-$3.81 (+/-2.26%) up or down from last closing price. If Lennar Corporation takes out the full calculated possible swing range there will be an estimated 4.52% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $153.35, some $15.15 (8.99%) from the current price of $168.50, our system finds the risk reward attractive.
Is Lennar Corporation stock A Buy?
Lennar Corporation holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.509 Strong Buy Candidate Upgraded
Predicted Opening Price for Lennar Corporation of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$167.82 ( 0.404%) | $168.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LEN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 170.08 | 0.94 % | |
R2 | 169.22 | 0.425 % | ||
R1 | 168.68 | 0.109 % | ||
Current price: | 168.50 | |||
Support | S1 | 166.96 | -0.92 % | |
S2 | 166.42 | -1.23 % | ||
S3 | 165.56 | -1.74 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 168.50 | |||
Support | S1 | 153.35 | -8.99% | |
S2 | 152.86 | -9.28% | ||
S3 | 147.59 | -12.41% |
LEN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 09, 2024 | Jan 23, 2024 | Feb 07, 2024 | $0.500 | 0.327% |
2 | Sep 27, 2023 | Oct 11, 2023 | Oct 26, 2023 | $0.375 | 0.361% |
3 | Jun 22, 2023 | Jul 06, 2023 | Jul 21, 2023 | $0.375 | 0.296% |
4 | Apr 12, 2023 | Apr 25, 2023 | May 10, 2023 | $0.375 | 0.329% |
5 | Jan 12, 2023 | Jan 26, 2023 | Feb 10, 2023 | $0.375 | 0.368% |
FAQ
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