Lennar Corporation Stock Forecast
Green day on Friday for Lennar Corporation
(Updated on Mar 31, 2023)
The Lennar Corporation stock price gained 2.50% on the last trading day (Friday, 31st Mar 2023), rising from $102.55 to $105.11. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.86% from a day low at $102.31 to a day high of $105.24. The price has risen in 6 of the last 10 days and is up by 1.56% over the past 2 weeks. Volume fell on the last day by -382 thousand shares and in total, 2 million shares were bought and sold for approximately $202.50 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.67% during the next 3 months and, with a 90% probability hold a price between $101.98 and $116.54 at the end of this 3-month period.
LEN Signals & Forecast
Mostly positive signals in the chart today. 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 $103.02 and $100.22. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 01, 2023, and so far it has risen 9.90%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Lennar Corporation stock
Lennar Corporation finds support from accumulated volume at $103.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.93 (2.86%) between high and low. For the last week, the stock has had daily average volatility of 1.92%.
Our recommended stop-loss: $100.12 (-4.74%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (LEN) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Lennar Corporation to open at $104.22, and during the day (based on 14 day Average True Range), to move between $102.56 and $107.66, which gives a possible trading interval of +/-$2.55 (+/-2.42%) up or down from last closing price. If Lennar Corporation takes out the full calculated possible swing range there will be an estimated 4.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $103.50 (1.53%) than the resistance at $108.08 (2.83%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Lennar Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Lennar Corporation stock to perform well in the short-term.
Current score: 4.567 Open Broker Account
Buy Candidate UnchangedPredicted Opening Price for Lennar Corporation of Monday, April 3, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price April 3, 2023 | Current price |
|---|---|
| $104.22 | $105.11 (Overvalued) |
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Trading levels for LEN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 107.15 | 1.94 % | |
| R2 | 106.03 | 0.88 % | ||
| R1 | 105.34 | 0.218 % | ||
| Current price: | 105.11 | |||
| Support | S1 | 103.10 | -1.91 % | |
| S2 | 102.41 | -2.57 % | ||
| S3 | 101.29 | -3.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 108.08 | 2.83 % | ||
| Current price | 105.11 | |||
| Support | S1 | 103.50 | -1.53% | |
| S2 | 100.19 | -4.68% | ||
| S3 | 99.09 | -5.73% |
FAQ
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About Lennar Corporation
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, a... LEN Profile
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