Lennar has had one incredible run, and has been exceeding the mid-term upward trend of the main indexes exceptionally well. LEN has risen from $12 last October to $28 just a few weeks ago. It is a truly incredible move considering the housing market is still massively weak, and the underlying macro-economic picture remaining bleak.
LEN, daily
The LEN chart looks very much like the Sp'..we've a clear bear flag..and the first target would be $22. A break under 22 would open up the 200 day MA -currently $19.10.
So, from a short perspective, there is a possible 20% 'best bearish case' downside in the next 2-6 weeks.
