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Shares of Mohawk Industries Rise Above Previous 52-Week High

By David Diaz

Mohawk Industries (NYSE:MHK) traded today at a new 52-week high of $214.87. Approximately 87,000 shares have changed hands today, as compared to an average 30-day volume of 484,000 shares.

Potential upside of 4.7% exists for Mohawk Industries, based on a current level of $213.81 and analysts' average consensus price target of $223.83. Mohawk Industries shares have support at the 50-day moving average (MA) of $189.86 and additional support at the 200-day MA of $188.68.

Over the past year, Mohawk Industries has traded in a range of $148.56 to $214.87 and is now at $213.81, 44% 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%.

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.

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 8.8%. 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