• Return to Headlines

Bullish Moving Average Cross by Mohawk Industries (MHK)

By James Quinn

Today, shares of Mohawk Industries (NYSE:MHK) have crossed bullishly above their 10-day moving average of $197.38 on a volume of 118K 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.

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 $197.96, which is 33% above that low price. The 200-day and 50-day moving averages have moved 0.07% higher and 2.23% higher over the past week, respectively.

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 17.9%. 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