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Mohawk Inds Looks to Continue to Trade Below its Annual-Low Share Price Today

By James Quinn

Mohawk Inds (NYSE:MHK) traded at a new 52-week low today of $159.00. This new low was reached on below average trading volume as 111,000 shares traded hands, while the average 30-day volume is approximately 900,000 shares.

In the past 52 weeks, Mohawk Inds share prices have been bracketed by a current low of $159.00 and a high of $286.85 and are now at $160.33. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 0.7%.

There is potential upside of 72.6% for shares of Mohawk Inds based on a current price of $160.33 and an average consensus analyst price target of $276.70. The stock should find initial resistance at its 50-day moving average (MA) of $184.30 and further resistance at its 200-day MA of $222.64.

Mohawk Industries, Inc. designs, manufactures, sources, distributes, and markets flooring for residential and commercial applications. The Company offers carpet, ceramic tile, laminate, wood, stone, vinyl, and rugs. Mohawk markets residential and commercial flooring in the United States, and residential flooring in Europe.

SmarTrend recommended that its subscribers protect gains by selling shares of Mohawk Inds on July 26th, 2018 by issuing a Downtrend alert when the shares were trading at $183.06. Since that call, shares of Mohawk Inds have fallen 12.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows mohawk inds

Ticker(s): MHK