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Recent 52-Week High Exceeded in Shares of Mohawk Industries (MHK)

By David Diaz

Shares of Mohawk Industries (NYSE:MHK) traded today at $213.71, breaking its 52-week high. So far today approximately 226,000 shares have been exchanged, as compared to an average 30-day volume of 484,000 shares.

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.

Over the past year, Mohawk Industries has traded in a range of $148.56 to $213.71 and is now at $211.73, 43% above that low. The 200-day and 50-day moving averages have moved 0.01% lower and 1.13% higher over the past week, respectively.

Mohawk Industries has overhead space with shares priced $211.73, or 5.4% below the average consensus analyst price target of $223.83. 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 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 5.6%. 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