Homebuilder Lennar Corp. (LEN) is set to report its latest quarterly numbers on Tuesday, March 16. We hear that the housing market is hot but has that translated over to the stocks of the builders? Let's schedule a virtual home tour of LEN.
In the daily bar chart of LEN, below, we can see that the shares have tripled from their March 2020 pandemic low. Despite these price gains the road higher has not been clear. Prices are currently above the rising 50-day moving average line but there have been numerous swings above and below the line over the past five months. The slope of the 200-day moving average line is positive.
The On-Balance-Volume (OBV) line and the trading volume show very choppy action since early October. Chart readers like to see a steady move higher but that is not the case for LEN. The trend-following Moving Average Convergence Divergence (MACD) oscillator has been little help for investors in the past 12 months.