LENNAR CORP-A is showing promising signs of setting up for a breakout.

We've identified LENNAR CORP-A (NYSE:LEN) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:LEN for further developments.

In-Depth Technical Analysis of NYSE:LEN

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

Overall LEN gets a technical rating of 10 out of 10. Both in the recent history as in the last year, LEN has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that LEN is one of the better performing stocks in the market, outperforming 91% of all stocks. On top of that, LEN also shows a nice and consistent pattern of rising prices.
• LEN is part of the Household Durables industry. There are 68 other stocks in this industry. LEN outperforms 71% of them.
• LEN is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month LEN has a been trading in the 144.77 - 158.36 range, which is quite wide. It is currently trading near the high of this range.

Check the latest full technical report of LEN for a complete technical analysis.

How do we evaluate the setup for NYSE:LEN?

Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NYSE:LEN currently holds a 9 as its setup rating, suggesting a particular level of consolidation in the stock.

LEN has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 153.41, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for LEN in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.

How to trade NYSE:LEN?

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

More breakout setups can be found in our Breakout screener.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.