Lennar: Negative Short-term Outlook

330 5 4
We could head even lower in the near term as price completed a bearish breakout below:
1) Head and shoulders
2)50-days SMA
3)Rising trend line for the latest bullish wave
4)The downside breakout was supported by strong selling volume

I will look for a retest of 37.75 support level , followed by areas near the 200-days SMA support at 36.50.

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I was wrong.
No Problem next time I do it better
Whats wrong vaicru, why sad
I agree with the ideea, it might be good to wait a bit though. Here is how the weekly looks
Last week has an indecision candle. If you plot over the DOW, there's a pretty high correlation so if the stock market is going to fall next couple of weeks, Lennar will plunge directly into your target. If however, the market is heading up, I expect this to head higher with it, and make a weekly lower high or why not, a smaller double top. Right now, I have no ideea where the stock market is going.
Technician vlad.adrian
U know i am bearish on U.S. markets that's why ;).. Anyhow, if we see a resumption of the bearish pressures, 37.75-37.80 is a key support level to watch in the near term.
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