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After Yesterday's Rally of 5.16% Shares Could Potentially Pullback

By Nick Russo

Mohawk Inds (NYSE:MHK) traded in a range yesterday that spanned from a low of $129.58 to a high of $134.42. Yesterday, the shares gained 5.2%, which took the trading range above the 3-day high of $133.83 on volume of 818,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is tracking the current trend status for Mohawk Inds and will alert subscribers who have MHK in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, shares of Mohawk Inds have traded between a low of $108.93 and a high of $156.60 and are now at $130.85, which is 20% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.6%.

Keywords: rebounders mohawk inds

Ticker(s): MHK