Bullish Moving Average Cross by Mohawk Industries (MHK)

Published on Fri, 03/27/2015 - 11:19
By Mallory Stone in Moving average crossovers, MHK, mohawk industries, moving crosses, nyse:mhk

Today, shares of Mohawk Industries (NYSE:MHK) have advanced above their 10-day MA of $180.43 on a volume of 130K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Mohawk Industries have traded between a low of $120.37 and a high of $188.26 and are now at $180.93, which is 50% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.1%.

Mohawk Industries, Inc. designs, manufactures, and markets woven and tufted broadloom carpets and rugs for residential and commercial applications. The Company markets its products under brand names such as Mohawk, Aladdin, Alexander Smith, Bigelow, and Galaxy. Mohawk also offers bath rugs, area rugs, decorative throws, and a laminate product line, among other products.

There is potential upside of 8.9% for shares of Mohawk Industries based on a current price of $180.93 and an average consensus analyst price target of $197.10. The stock should find initial support at its 50-day moving average (MA) of $175.11 and further support at its 200-day MA of $149.40.

By Mallory Stone
mstone@fnno.com

Latest News from FNNO

W&T Offshore Looks to Continue to Trade ...

Shares of W&T Offshore (NYSE:WTI) traded today at $3.70, breaking its 52-week low. Thi ...

VCA Antech Looks to Continue to Trade Ab...

VCA Antech (NASDAQ:WOOF) traded today at a new 52-week high of $60.45. Approximately 1 ...

Verisk Analytics: 52-Week High Recently ...

Verisk Analytics (NASDAQ:VRSK) traded at a new 52-week high today of $79.05. So far to ...

Recent 52-Week High Exceeded in Shares o...

Shares of Ultimate Software (NASDAQ:ULTI) traded at a new 52-week high today of $184.91 ...

Shares of Unisys Have Fallen Below Previ...

Unisys (NYSE:UIS) traded today at a new 52-week low of $15.82. So far today approximat ...

UBS: The Winning Streak Continues (UBS)...

UBS (NYSE:UBS) traded today at a new 52-week high of $22.89. This new high was reached ...

Recent 52-Week High Exceeded in Shares o...

Shares of Under Armour (NYSE:UA) traded today at $98.91, breaking its 52-week high. So ...

Total System Services: 52-Week High Rece...

Total System Services (NYSE:TSS) traded at a new 52-week high today of $47.77. Approxi ...