Traders Already Trimming Profits in Lennar (LEN) Following Q2 Results
Amid Lennar (NYSE: LEN) reporting solid quarterly results earlier on the session, some traders are already taking profits in the name.
Market data out Tuesday has money flow at minus $16.2 million, wth an uptick-to-downtick ratio at 0.87 times. Lennar is coming off of recent oversold levels and its 14-day money flow index is at 55.7 percent, or right in the middle of the chart.
From the middle through the end of May short interest on the name rose 7 percent to 30.88 million shares, or 19.8 percent of float.
Lennar hit a 52-week high of $44.40 on May 20th, but has since pulled back over 20 percent. The stock is up 1 percent today.
Market data out Tuesday has money flow at minus $16.2 million, wth an uptick-to-downtick ratio at 0.87 times. Lennar is coming off of recent oversold levels and its 14-day money flow index is at 55.7 percent, or right in the middle of the chart.
From the middle through the end of May short interest on the name rose 7 percent to 30.88 million shares, or 19.8 percent of float.
Lennar hit a 52-week high of $44.40 on May 20th, but has since pulled back over 20 percent. The stock is up 1 percent today.