nice simple setup here
after a long run stock corrected from 43$ to strong support around 32$
first resistence at 37.75 broken today on nice vol.
stock looking to retest high at 43$.
1st target 40$
stop at close below 36.5$
1st target is close so will raise stop at firt target to 37.75
GL
Almost everyone in the financial media has been talking about the yield on the 10-year U.S. Treasury Note. When the yield moves higher, the home-builder stocks, real estate investment trusts (REITs), and the utility sector will usually suffer. All of these important sectors are very sensitive to higher interest rates.
Today, the leading home-builder stocks such...
This morning, most of the leading home-builder stocks are coming under some selling pressure despite the higher stock indexes. The decline in the home-builder stocks is likely due to the increase in the 10-year U.S. Treasury yield. Today, bond yields are ticking higher by 4 basis points to 2.64 percent. Higher yields have hurt the home-builder stocks...
Potential Descending Wedge - NOT confirmed. May just be a bounce off the 100wma. Price you easily traverse back down to get closer to Broadening Formation Target before playing out the wedge formation
It looks like it is time to clean the decks on this stock and test the longs with a good old fashioned sell off. This latest overall market strength didn't include the home builders and therefore is a crack in the bull market, or at least just a rotation out of the leaders as folks re-balance their portfolios at quarter end and lighten up on some of the big...
The rally appears to be over on the long term and the short term for LEN and other home-builders. There is a good trade setting up here to go short LEN and look for downside in the neighborhood of 10% over the next quarter. The risk is a rally of 10%, so unfortunately the risk is equal to the reward but I believe the odds of the decline are greater, far-greater...
