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Bearish Moving Average Cross by Mohawk Industries (MHK)

By Nick Russo

Today, shares of Mohawk Industries (NYSE:MHK) have fallen below their 10-day MA of $192.40 on a volume of 177K 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 $195.53 and a 52-week low of $120.37 and are now trading 60% above that low price at $192.10 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Mohawk Industries on May 8th, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $185.00. Since that recommendation, shares of Mohawk Industries have risen 4.6%. 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