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Mohawk Industries: The Winning Streak Continues (MHK)

By Amy Schwartz

Mohawk Industries (NYSE:MHK) traded today at a new 52-week high of $243.44. Approximately 72,000 shares have changed hands today, as compared to an average 30-day volume of 484,000 shares.

In the past 52 weeks, Mohawk Industries share prices have been bracketed by a low of $148.56 and a high of $243.44 and are now at $242.66, 63% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has remained constant.

Mohawk Industries, Inc. designs, manufactures, and markets woven and tufted broadloom carpets and rugs for residential and commercial applications. The Company markets its products under brand names such as Mohawk, Aladdin, Alexander Smith, Bigelow, and Galaxy. Mohawk also offers bath rugs, area rugs, decorative throws, and a laminate product line, among other products.

Potential upside of 1.6% exists for Mohawk Industries, based on a current level of $242.66 and analysts' average consensus price target of $246.43. The stock should find initial support at its 50-day moving average (MA) of $189.86 and further support at its 200-day MA of $188.68.

SmarTrend recommended that subscribers consider buying shares of Mohawk Industries on November 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $194.23. Since that recommendation, shares of Mohawk Industries have risen 24.6%. We continue to monitor MHK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows mohawk industries

Ticker(s): MHK