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A Lennar development in Broomfield, Colo.; U.S. housing data will be released Tuesday


Lennar Corp. (yesterday's closing price $13.04 XXXU.S.) declined from about $67 in early 2006 to $4 in November, 2008 (A-B) below a descending trendline (see dotted line) and then settled into a trading range mostly between $5 and $11 (see dashed lines). Lennar had a breakout above this range recently to signal a changing technical condition. The current pullback toward previous resistance (D - ceiling becomes floor) should provide an excellent buying opportunity. Only a decline below the 40wMA (currently at ±$11.50) would reverse the long-term up-side potential.

Point & Figure measurements provide an initial target of $19 (a 46 per cent appreciation potential from current levels). The large area of accumulation (see dashed lines) supports higher targets.

Ron Meisels is a contributor to the web site. Monica Rizk is the senior Technical Analyst for Phases & Cycles Inc. They may hold shares in companies profiled. Please see the site for a glossary.

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About the Authors
President of Phases & Cycles Inc.

Ron Meisels, President, Phases & Cycles Inc., has been active as an Analyst since 1971. He was Vice President and Director of Technical Research of Nesbitt Thomson (now BMO Nesbitt Burns) from 1982 to 1990. He was ranked among the top three technical analysts by Canadian Institutions for six consecutive years (Brendan Wood Survey). More

Senior Technical Analyst at Phases & Cycles Inc.

Monica Rizk, Senior Technical Analyst, has a Bachelor's degree in Business Administration and completed the Canadian Securities Institute course. She has been with Phases & Cycles since September 2000 and specializes in the research of Canadian and US stocks using Point & Figure as well as bar chart analysis. More


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