OptionsPlay DailyPlay

The bullish DailyPlay we chose for Tuesday April 11th is Lennar (LEN). LEN is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 1.14% move higher and its 1m and 6m trend has turned bullish on 3/28 and has recently bounced higher off its $87 support level.

Lennar’s 1m and 6m trends turned bullish on 2/8 and recently broke higher above its $50 resistance level on high volume which now becomes support. With a technical score of 8 (out of 10), LEN is a strong bullish stock that looks to continue higher.

View this Trade Idea on LEN

As a stop loss, if LEN was to trade below $50 for multiple days, this would invalidate our analysis and suggest getting out of the trade.