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Look for Shares of Lennar to Potentially Pullback after Yesterday's 3.99% Rise
Dec 17, 2012 (SmarTrend(R) News Watch via COMTEX) --
Lennar (NYSE:LEN) traded in a range yesterday that spanned from a low of $37.35 to a high of $38.80. Yesterday, the shares gained 4.0%, which took the trading range above the 3-day high of $38.14 on volume of 4.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend is tracking the current trend status for Lennar and will alert subscribers who have LEN in their portfolio or watchlist when shares have changed trend direction.
Over the past year, Lennar has traded in a range of $18.45 to $39.33 and is now at $38.79, 110% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 1.2%.
Write to Chip Brian at cbrian@mysmartrend.com
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