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Mohawk Inds Set to Possibly Rebound After Yesterday's Selloff of 2.77%

By Amy Schwartz

Mohawk Inds (NYSE:MHK) traded in a range yesterday that spanned from a low of $129.12 to a high of $129.43. Yesterday, the shares fell 2.8%, which took the trading range below the 3-day low of $131.75 on volume of 447,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Mohawk Inds share prices have been bracketed by a low of $109.35 and a high of $253.55 and are now at $129.32, 18% above that low price. The 200-day and 50-day moving averages have moved 0.76% lower and 0.81% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Mohawk Inds on January 25th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $127.70. Since that recommendation, shares of Mohawk Inds have risen 4.2%. We continue to monitor MHK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders mohawk inds

Ticker(s): MHK