What’s Ahead for Lennar Corporation (LEN-B) After Forming Wedge Up Chart Pattern?

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The stock of Lennar Corporation (LEN-B) formed an up wedge with $43.89 target or 6.00 % above today’s $41.41 share price. The 6 months wedge indicates low risk for the $16.31B company. If the $43.89 price target is reached, the company will be worth $978.84M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.07% or $0.03 during the last trading session, reaching $41.41. About 4,960 shares traded. Lennar Corporation (NYSE:LEN.B) has declined 16.66% since May 8, 2018 and is downtrending. It has underperformed by 21.03% the S&P500.

More notable recent Lennar Corporation (NYSE:LEN.B) news were published by: Finance.Yahoo.com which released: “Investors Who Bought Lennar (NYSE:LEN) Shares Five Years Ago Are Now Up 39% – Yahoo Finance” on May 04, 2019, also Fool.com with their article: “Lennar’s Aquisition Is Looking Like a Great Move After These Earnings – Motley Fool” published on July 18, 2018, Fool.com published: “Despite Missing Expectations, Lennar’s Management Feels Optimistic About the Rest of 2019 – The Motley Fool” on April 28, 2019. More interesting news about Lennar Corporation (NYSE:LEN.B) were released by: Finance.Yahoo.com and their article: “Lennar Acquires Control Of 1,602 Homesites Across Seven Raleigh Communities – Yahoo Finance” published on April 26, 2019 as well as Fool.com‘s news article titled: “This Executive Thinks the Housing Market Swoon Is Overblown – The Motley Fool” with publication date: January 14, 2019.

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company has market cap of $16.31 billion. The firm operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily divisions. It has a 7.56 P/E ratio. The Company’s homebuilding activities include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.

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