Lennar Corporation (LEN) stock resumed its decline in recent intraday trading, after a brief attempt to relieve its clearly oversold RSI conditions, especially with the early signs of a potential bullish crossover. However, the stock remains under negative pressure from the 50-day SMA and continues to move within a dominant downward trend, trading along a short-term descending trendline.

Therefore we expect the stock to decline in upcoming sessions, as long as it stays below $114.30, targeting the initial support level at $103.55.

Todays price forecast: Bearish.