Lennar Corporation (LEN) stock declined in its latest intraday trading, after stabilizing below the important resistance level of 143.75. This pullback may help the stock gather positive momentum that could support an eventual breakout attempt, while also working to unwind its clear overbought levels in the Stochastic indicators, especially with negative signals starting to appear. Positive pressure, however, continues from trading above its previous 50-day SMA, while the short-term corrective bullish trend remains in control with trading along an upward slope line.
Therefore, we expect the stock to rise in its upcoming trading, to once again target the mentioned resistance of 143.75 in preparation to test it.
Today’s price forecast: Bullish.
ConocoPhillips (COP) stock jumped higher in its latest intraday trading, as it attempts to recover part of its prior losses while also working to unwind its clear oversold levels in the Stochastic indicators, with positive signals starting to appear. The stock has thereby retested a previously broken short-term corrective upward trend line, while simultaneously touching resistance at its previous 50-day SMA.
Therefore, we expect the stock to decline in its upcoming trading, as long as the resistance level of 98.25 holds, to then target its first support level at 88.80.
Today’s price forecast: Bearish.
AT&T Inc. (T) stock declined in its latest intraday trading, as negative signals appeared in the Stochastic indicators while the stock attempts to gather positive momentum that may support a new rise. Dynamic support continues from trading above its previous 50-day SMA, while the medium-term main bullish trend remains in control, with trading moving along a minor short-term upward slope line.
Therefore, we expect the stock to rise in its upcoming trading, especially as long as it remains above the key resistance of 29.00, to then target its next resistance at 31.45.
Today’s price forecast: Bullish.
Deere & Company (DE) stock declined in its latest intraday trading, as the short-term corrective bearish trend remains in control. Negative pressure also continues from trading below its previous 50-day SMA, while a negative crossover has begun to appear in the Stochastic indicators after reaching strongly overbought levels, exaggerated relative to the stock’s movement.
Therefore, we expect the stock to decline in its upcoming trading, as long as the resistance level of 495.00 holds, to then target the support level of 447.65.
Today’s price forecast: Bearish.