Lennar Corporation Stock Forecast
Weaker technical forecast for Lennar Corporation as stock downgraded to Sell Candidate.
(Updated on Apr 25, 2024)
The Lennar Corporation stock price fell by -0.86% on the last day (Thursday, 25th Apr 2024) from $154.12 to $152.79. During the last trading day the stock fluctuated 3.02% from a day low at $148.81 to a day high of $153.30. The price has fallen in 6 of the last 10 days and is down by -4.18% for this period. Volume has increased on the last day by 605 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $311.16 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $150.72 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.93% during the next 3 months and, with a 90% probability hold a price between $158.15 and $183.10 at the end of this 3-month period.
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LEN Signals & Forecast
There are mixed signals in the stock today. The Lennar Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $160.80. On a fall, the stock will find some support from the short-term average at $152.68. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.73%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Lennar Corporation stock
Lennar Corporation finds support from accumulated volume at $152.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $4.50 between high and low, or 3.02%. For the last week, the stock has had daily average volatility of 3.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LEN) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Lennar Corporation to open at $151.63, and during the day (based on 14 day Average True Range), to move between $148.11 and $157.47, which gives a possible trading interval of +/-$4.68 (+/-3.06%) up or down from last closing price. If Lennar Corporation takes out the full calculated possible swing range there will be an estimated 6.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $152.86 (0.05%) than the support at $152.58 (0.14%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Lennar Corporation stock A Buy?
Lennar Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.879 Sell Candidate Downgraded
Predicted Opening Price for Lennar Corporation of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $151.63 ( 0.758%) | $152.79 |
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 | 156.13 | 2.18 % | |
| R2 | 154.41 | 1.06 % | ||
| R1 | 153.35 | 0.366 % | ||
| Current price: | 152.79 | |||
| Support | S1 | 149.91 | -1.88 % | |
| S2 | 148.85 | -2.58 % | ||
| S3 | 147.14 | -3.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 163.64 | 7.10 % | |
| R2 | 156.43 | 2.38 % | ||
| R1 | 152.86 | 0.0458 % | ||
| Current price | 152.79 | |||
| Support | S1 | 152.58 | -0.137% | |
| S2 | 152.49 | -0.196% | ||
| S3 | 151.68 | -0.726% |
LEN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 10, 2024 | Apr 23, 2024 | May 08, 2024 | $0.500 | 0.327% |
| 2 | Jan 09, 2024 | Jan 23, 2024 | Feb 07, 2024 | $0.500 | 0.327% |
| 3 | Sep 27, 2023 | Oct 11, 2023 | Oct 26, 2023 | $0.375 | 0.361% |
| 4 | Jun 22, 2023 | Jul 06, 2023 | Jul 21, 2023 | $0.375 | 0.296% |
| 5 | Apr 12, 2023 | Apr 25, 2023 | May 10, 2023 | $0.375 | 0.329% |
FAQ
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