The Hourly View for LEN
Currently, LEN’s price is down $-1.19 (-1.41%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as LEN has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
LEN’s Technical Outlook on the Daily Chart
Currently, LEN’s price is down $-1.76 (-2.07%) from the day prior. LEN has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 100 day timeframe. Of note is that the 20 day changed directions on LEN; it is now pointing down. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. Lennar Corp’s price action over the past 90 days can be seen via the chart below.
For LEN News Traders
Investors and traders in LEN may be particularly interested in the following story that came out in the past day:
Gig Harbor, Feb. 22, 2021 (GLOBE NEWSWIRE) — Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ:HCDI), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that it has entered into a purchase and sale agreement with Lennar Northwest, Inc., a subsidiary of Lennar Corporation (“Lennar”), to sell 99 undeveloped lots in phase 7 of Soundview Estates in Bremerton, Washington for $7,920,000. The closing of the sale is scheduled for March 29, 2021. Harbor has now announced the completion of infrastructure improvements on 215 lots at Soundview Estates, of which Lennar purchased 165 lots for single-family home construction. Lennar also previously contracted to purchase 50 developed lots in phase 6 of Soundview Estates for $7,000,000 with a closing date of March 25, 2021. The combined first quarter scheduled sales to Lennar now total $14,920,000. With the addition of phase 7, Soundview Estates will grow to a 339-lot subdivision offering spectacular views of the Olympic Mountains, Mt.
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