Lennar Corporation (NYSE: LEN) engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Central, Texas, and West, Financial Services, Multifamily, and Lennar Other. The Homebuilding East, Central, Texas, and West segment constructs and sells homes primarily for first-time, move-up, and active adult homebuyers primarily under the Lennar brand name. In addition, the company’s homebuilding operations purchase, develop, and sell land to third parties.The company was founded in 1954 and is headquartered in Miami, FL.
Will LEN Stock Persist in Outperforming
LEN stock gained massive buying momentum and has surpassed multiple barriers after breaking out of the round mark of $100. Moreover, the chart delivers the bullish outlook and shows massive gap-up moves. Based on the Fibonacci levels, LEN stock has surpassed the 50% zone and is close to the 61.8% level.
At press time, LEN stock price is trading at $119.82 with an intraday gain of 3.42% showing bullishness on the charts. Moreover, the trading volume increased by 1.45% to 2.622 Million while the market cap is $33.764 Billion. Furthermore, analysts have maintained a buy rating with a yearly target price of $139.00, suggesting a growth outlook.
On the daily charts, LEN stock showed bullishness and has revamped from the lows of $90. If buyers persist in gaining strength, LEN stock will stretch the rally toward $135 in the next few weeks.
LEN Stock Price Prediction 2023
LEN stock price showcased the follow-on buying and highlighted bullish dominance. Moreover, the price action shows rising investor interest. Amid the bearish market sentiments, LEN stock price pulled back sharply from the support zone of $90, trapping the sellers.
If bulls continue to dominate, LEN stock has a potential to reach the maximum of $130 followed by $140 by 2023. Conversely, if bears regain strength, LEN stock will retest the 50 day EMA support zone near $110.
LEN Stock Price Prediction 2024
On the monthly charts, LEN stock price has pulled back from the 20 day EMA and is forming higher highs. Moreover, the price action shows long buildup activity and is heading towards the trajectory high of $150. Furthermore, the sellers were in trouble and looked trapped as the buyers persisted.
Per the ongoing trend, the rising channel pattern showcased that, LEN stock will stretch the gains toward the maximum of $150 followed by $170 by 2024.
On the contrary, LEN stock will retrace toward the round mark of $100, and if slips below it, it will retest the base of $90 again.
LEN Stock Price Prediction 2025
On the 6 months chart, LEN stock price is in an uptrend and is above the round mark of $100. Furthermore, the stock is beyond the significant moving averages and is stretching the rally. Notably, amid multiple minor corrections, bullishness persisted.
If stock continues to surge, LEN stock has the potential to reach the maximum of $200 in the next few years. If LEN stock goes below $100, will go toward the demand zone of $75 followed by $65.
Summary
LEN stock price is trading above the neckline of $110 and is heading toward the trajectory highs of $150. Moreover, the bulls have persisted in adding long positions and noted gap-up moves. Furthermore, the chart shows the rising channel pattern.
Technical Levels
Support Levels: $110 and $100
Resistance Levels: $125 and $140
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/11/04/len-stock-price-prediction-2023-25-is-len-a-multibagger-stock/