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Lennar Corporation
Long

$LEN Bullish Descending Megaphone

By UnknownUnicorn7308096
Updated
LEN Bullish Descending Megaphone

LEN has formed a beautiful descending broadening wedge or descending megaphone into its earnings report Monday after close. This pattern retested previous highs and bounced, showing support on a perfect retest of $71.30. First target is previous highs around $79.50 which I am looking for Monday into Earnings. I am looking to stay long LEN & homebuilders in general through earnings but will take some profits at first target.

XHB on the whole looks decent
snapshot

Component DHI looks good
snapshot

TOL broke out & looks fantastic
snapshot

BTO LEN 9/18 80c
Comment
This is hitting my target in pre. Staying long XHB in general - Z continues to be a favorite and is trading with the sector.
DHIhomebuildersLENTOLWedgeXHB

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