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Mohawk Industries Crosses Above its 10-day MA (MHK)

By James Quinn

Today, shares of Mohawk Industries (NYSE:MHK) have crossed bullishly above their 10-day moving average of $195.12 on a volume of 287K 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, Mohawk Industries share prices have been bracketed by a low of $148.56 and a high of $212.16 and are now at $197.54, 33% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.1%.

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 16.3%. 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