Len is low in the channel after a 3C confirmed false breakout of the channel at the red arrow. I doubt LEN can make it back up to the channel resistance level and is likely to break down and retrace the late 2010 bearish ascending wedge with an initial target of about $14.00.
This is one of my favorite shorts in the home builder group, it still has significant downside, it's optionable, it has decent volume and it's above $5.00 ( a lot of brokers won't let you short stocks under $5.00).
Take a look, if you have any questions I'm always available.
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