Lennar @ Year Highs

Published on Wednesday, 28 March 2012 11:34 Written by TradersHuddle Wire

New York, March 28th (TradersHuddle.com) - Shares of Lennar Corporation (NYSE:LEN) booked a new 52 week high today by trading above $27.07, traders are definitely monitoring Lennar's price action to see if this move attracts further buying into the stock.

Lennar Corporation (NYSE:LEN) builder of single-family attached and detached homes. The Company also provides mortgage financing, title insurance, closing services and other ancillary services.

Lennar is currently trading 0.36% versus its previous trading session close, and it has calculated support and resistance at $25.01 and $27.07 respectively. Clearly, with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range.

The overall market index S&P 500 is trading lower by -0.41% from its previous trading close, which means that Lennar stock is outperforming the overall market.