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Bearish Moving Average Cross by Mohawk Industries (MHK)

By Nick Russo

Mohawk Industries (NYSE:MHK) shares have crossed bearishly below their 10-day moving average of $142.16 on a volume of 237K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Mohawk Industries share prices have moved between a 52-week high of $155.48 and a 52-week low of $120.37 and are now trading 18% above that low price at $142.04 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

SmarTrend recommended that subscribers consider buying shares of Mohawk Industries on October 21st, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $132.84. Since that recommendation, shares of Mohawk Industries have risen 8.0%. We continue to monitor MHK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses mohawk industries

Ticker(s): MHK