LEN continuing channel and bouncing up for continuation

We've seen LEN trading in a channel for a month or more now, here it is hitting the bottom once again, and we like it to bounce off. This also coincides with the end of a correctional wave we see, which is ending at very technical levels around the 0.5 mark on fib. retracement. We like the next wave to begin here now, cutting losses if it breaks outside of the channel by too much. Indicators moving quickly towards oversold, in the past with this stock, that has been a trustworthy tool to indicate a upcoming bounce.