Lennar reaches a strategic entry point and has a considerable potential.

The group has a strong growth potential. Indeed, according to Thomson Reuters consensus, sales are expected to sharply increase by about 43.6% by the end of the year. Moreover, analysts following the security have set an average price at USD 42.5, which means a potential gain of 25%.

Technically, the security is in a consolidation area limited by the significant 33.1 support. Above the lower limit, investors could aim a rebound toward the USD 37.4 pivot point area. We will be careful close to this level to see if a new bullish target could be targeted.

Ideally, investors will take a long position nearby the USD 33.1 support currently tested, in order to benefit from a technical rebound. The USD 37.4 is the first goal. This strategy should be covered by a stop loss placed under the USD 33.1 support because a breakdown of this level would invalidate it.