Submitted by admin on Tue, 12/07/2010 - 21:18
Posted in
Lennar Corp. (LEN) had formed a head and shoulders bottom. It's a confirmed pattern, since it has broken out above its confirmation line. The pattern has formed over a range of six months.
Taking a difference between the head and the confirmation line and adding that to the confirmation line gives us a short term price target of about $20/share. There is also a bit of resistance at that price.