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Swing Trade Idea (LEN) – November 24, 2021

Our bullish trade for Wednesday, November 24th is Lennar Corp (LEN). LEN is part of the Discretionary sector that has recently pulled back after a strong rally.

LEN recently broke above the $109 resistance turned support level and bounced higher on the retest which provides a good risk/reward bullish entry. Both 1M and 6M trends are bullish and with a technical score of 9 (out of 10), LEN is a very strong stock that will likely continue higher. 

As a close, if LEN were to trade below $109 for multiple days, this would invalidate our analysis and we wold focus on cutting losses on the trade. We also rconsider cutting losses on this options trade if the value of the vertical spread moves below $3.72.