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Bullish Moving Average Cross by Mohawk Inds (MHK)

By Nick Russo

Today, shares of Mohawk Inds (NYSE:MHK) have crossed bullishly above their 10-day moving average of $114.13 on a volume of 109K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Mohawk Inds share prices have moved between a 52-week high of $196.30 and a 52-week low of $108.93 and are now trading 7% above that low price at $116.50 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of Mohawk Inds on July 29th, 2019 by issuing a Downtrend alert when the shares were trading at $125.65. Since that call, shares of Mohawk Inds have fallen 10.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses mohawk inds

Ticker(s): MHK