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

By David Diaz

Mohawk Industries (NYSE:MHK) shares have crossed bearishly below their 10-day moving average of $205.80 on a volume of 135K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Mohawk Industries has traded in a range of $148.56 to $216.58 and is now at $204.78, 38% above that low. 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 July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $196.77. Since that recommendation, shares of Mohawk Industries have risen 4.7%. 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