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Bearish Moving Average Cross by Mohawk Industries (MHK)

By Amy Schwartz

Today, shares of Mohawk Industries (NYSE:MHK) have fallen below their 10-day MA of $180.27 on a volume of 143K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Mohawk Industries have traded between a low of $148.56 and a high of $212.16 and are now at $177.24, which is 19% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Mohawk Industries on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $166.38. Since that recommendation, shares of Mohawk Industries have risen 8.8%. 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