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Homebuilding Industry Stocks Technical Analysis - LENArchive
- 11/22/2024 -
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Lennar Corp. (LEN) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Lennar Corp. (LEN). During the week, the LEN gave back -0.20 points, or -0.12%, and closed at 169.20 on Friday, November 22, 2024. Weekly volume was -30% below average.
 Long-term trend: [See LEN long-term trend chart]
A long-term uptrend had started on November 21, 2008 at 3.42 and reached 193.80 on September 19, 2024. LEN gained -190.38 points, or -5566.67%, in 825 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (73.97) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See LEN medium-term trend chart]
A medium-term uptrend had started on June 17, 2022 at 62.55 and reached 193.80 on September 19, 2024. LEN gained -131.25 points, or -209.83%, in 117 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 135.20 and resistance is at 205.12. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See LEN weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 18, 2024. The distance between MACD and the signal line is relatively high and getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See LEN short-term trend chart]
A short-term downtrend had started on September 19, 2024 at 193.80 and reached 160.60 on October 29, 2024. LEN lost 33.20 points, or 17.13%, in 40 days. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (171.01). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a short-term trend.
Daily Technical Indicators: [See LEN daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Consumer Discretionary |
6 |
| Industry |
Homebuilding |
35 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
177.40 |
| High Date |
11/05/2024 |
| Low |
163.90 |
| Low Date |
11/06/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Broadening Descending Wedge |
| Status |
Test Resistance |
| Resistance |
171.01 |
| Support |
145.21 |
| High |
193.80 |
| High Date |
09/19/2024 |
| Low |
160.60 |
| Low Date |
10/29/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
140.65 |
| Low Date |
07/05/2024 |
| High |
193.80 |
| High Date |
09/19/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Valid |
| Resistance |
205.12 |
| Support |
135.20 |
| Low |
62.55 |
| Low Date |
06/17/2022 |
| High |
193.80 |
| High Date |
09/19/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Broken Resistance |
| Resistance |
142.19 |
| Support |
73.97 |
| Low |
3.42 |
| Low Date |
11/21/2008 |
| High |
193.80 |
| High Date |
09/19/2024 |
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