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SmarTrend Watching for Potential Pullback in Shares of Mohawk Inds After 5.16% Gain

By David Diaz

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.

Mohawk Inds share prices have moved between a 52-week high of $156.60 and a 52-week low of $108.93 and are now trading 20% above that low price at $130.85 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.6%.

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.

Keywords: rebounders mohawk inds

Ticker(s): MHK