• Return to Headlines

Bearish Moving Average Cross by Mohawk Industries (MHK)

By Shiri Gupta

Mohawk Industries (NYSE:MHK) crossed under its 10-day moving average of $235.12 on a volume of 600K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Mohawk Industries has traded in a range of $148.56 to $241.02 and is now at $230.15, 55% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Mohawk Industries on November 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $194.23. Since that recommendation, shares of Mohawk Industries have risen 23.0%. 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