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Look for Shares of Mohawk Inds to Potentially Pullback after Yesterday's 1.23% Rise

By Amy Schwartz

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.

In the past 52 weeks, shares of Mohawk Inds have traded between a low of $175.52 and a high of $286.85 and are now at $242.79, which is 38% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.1%.

Keywords: rebounders mohawk inds

Ticker(s): MHK