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After Yesterday's Rally of 1.23% Shares Could Potentially Pullback

By Nick Russo

Mohawk Inds (NYSE:MHK) traded in a range yesterday that spanned from a low of $240.37 to a high of $242.90. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $241.96 on volume of 331,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Mohawk Inds on January 11th, 2018 by issuing a Downtrend alert when the shares were trading at $271.09. Since that call, shares of Mohawk Inds have fallen 11.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Mohawk Inds share prices have moved between a 52-week high of $286.85 and a 52-week low of $175.52 and are now trading 38% above that low price at $242.79 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has remained constant.

Keywords: rebounders mohawk inds

Ticker(s): MHK