Trade Alert - Lennar High Volume

Published on Friday, 22 June 2012 11:38 Written by TradersHuddle Wire

len New York, June 22nd (TradersHuddle.com) - Unusual high volume detected on shares of Lennar Corporation (NYSE:LEN) early in the trading session. The pace in volume of Lennar is already above average, with sellers in control, as the stock is 3.05% 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 1.024 times its 3-month average volume and has calculated support and resistance at $24.38 and $27.50 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 higher by 0.35% from its previous trading close, which means that Lennar stock is underperforming the overall market.

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