The Moving Average Convergence Divergence (MACD) is now turned up for a buy signal after a modest correction, and while the Relative Strength Index (RSI) is pretty well overbought there is room for the stock to go higher.
The homebuilder group has been a terrific performer recently with lower interest rates.
Resistance for Lennar lies ahead from $53-55. Notice the volume trends have been uber positive (circled).
Momentum is positive but may be stalling a bit. The gap is open from Wednesday's action coming off earnings and that will be filled eventually.
Perhaps a move downward after reaching the top of the channel is a buying opportunity.
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