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Watch for Mohawk Inds to Potentially Pullback After Gaining 3.87% Yesterday

By Nick Russo

Mohawk Inds (NYSE:MHK) traded in a range yesterday that spanned from a low of $138.95 to a high of $141.19. Yesterday, the shares gained 3.9%, which took the trading range above the 3-day high of $135.93 on volume of 695,000 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 $228.49 and a 52-week low of $109.35 and are now trading 29% above that low price at $140.54 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has remained constant.

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