LEN
Daily chart analysis
LEN is currently in a downtrend under the 200 ema
After reaching low of 64.00, pulled back and broke above resistance level at 81.00
The breakout is deemed a failed breakout after price falls back below 81.00
Price has the followed by making a series of lower lows creating a downtrend line
Price is currently at resistance from down trendline, an area of value.
This is my cue to enter trade short.
Entry: 75.81
Stop loss: 81.92
Target: 64.00, +15.58%, 1.93 RR ratio
Daily chart analysis
LEN is currently in a downtrend under the 200 ema
After reaching low of 64.00, pulled back and broke above resistance level at 81.00
The breakout is deemed a failed breakout after price falls back below 81.00
Price has the followed by making a series of lower lows creating a downtrend line
Price is currently at resistance from down trendline, an area of value.
This is my cue to enter trade short.
Entry: 75.81
Stop loss: 81.92
Target: 64.00, +15.58%, 1.93 RR ratio