Lennar - Above Average Volume Detected
Published on Monday, 07 May 2012 11:38 Written by TradersHuddle Wire
New York, May 7th (TradersHuddle.com) - Unusual high volume detected on shares of Lennar Corporation (NYSE:LEN) early in the trading session. The pace in volume of Lennar points to a break above average, with sellers in control, as the stock is 1.16% lower.
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 has already traded 0.924 times its 3-month average volume and has calculated support and resistance at $24.30 and $30.08 respectively. Traders like to use volume as their lie detector for price action movement through predefined trading ranges.
The overall market index S&P 500 is trading lower by -0.05% from its previous trading close, which means that Lennar stock is underperforming the overall market.