(Finance) – Red for Lennar which is marking a decline of 3.66%.
The construction group closed the third quarter with a Net income down from 1.47 billion, or $5.03 per share, to 1.11 billion, or $3.87. They also go down revenues from 8.93 to 8.73 billion dollars, still above the consensus of 8.49 billion.
The progress of Lennar in the week, compared toS&P-500detects a lower relative strength of the stock, which could become prey to sellers ready to take advantage of potential weaknesses.
The technical framework is weakened Lennar, with the curve likely to test the support area estimated at 110.7 USD, while on the contrary bullish cues would encounter the first obstacle at 115.4. Expectations are for a continuation of the bearish trend towards 108.