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AI Analysis of MHK
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Green day on Thursday for Mohawk Industries Inc stock after gaining 1.53%
(Updated on Mar 28, 2024)

Buy or Hold candidate since Jan 29, 2024 Gain 26.54% PDF

The Mohawk Industries Inc stock price gained 1.53% on the last trading day (Thursday, 28th Mar 2024), rising from $128.92 to $130.89. During the last trading day the stock fluctuated 1.79% from a day low at $128.87 to a day high of $131.18. The price has risen in 8 of the last 10 days and is up by 11.92% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 43 thousand more shares were traded than the day before. In total, 449 thousand shares were bought and sold for approximately $58.77 million.

The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $132.94 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 26.83% during the next 3 months and, with a 90% probability hold a price between $150.06 and $168.61 at the end of this 3-month period.

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MHK Signals & Forecast

Mostly positive signals in the chart today. The Mohawk Industries Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $126.49 and $119.07. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, January 24, 2024, and so far it has risen 34.15%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Mohawk Industries Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $117.24 and $115.28. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Mohawk Industries Inc finds support just below today's level at $117.24. If this is broken, then the next support from accumulated volume will be at $115.28 and $110.01.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.31 between high and low, or 1.79%. For the last week, the stock has had daily average volatility of 1.97%.

Our recommended stop-loss: $126.13 (-3.64%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 45 days ago.)

Trading Expectations (MHK) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Mohawk Industries Inc to open at $130.31, and during the day (based on 14 day Average True Range), to move between $127.91 and $133.87, which gives a possible trading interval of +/-$2.98 (+/-2.27%) up or down from last closing price. If Mohawk Industries Inc takes out the full calculated possible swing range there will be an estimated 4.55% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $117.24, some $13.65 (10.43%) from the current price of $130.89, our system finds the risk reward attractive.

Is Mohawk Industries Inc stock A Buy?

Mohawk Industries Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 6.174 Strong Buy Candidate Unchanged

Predicted Opening Price for Mohawk Industries Inc of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$130.31 ( 0.441%) $130.89

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for MHK

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 132.62 1.32 %
R2 131.74 0.650 %
R1 131.20 0.234 %
Current price: 130.89
Support S1 129.43 -1.11 %
S2 128.89 -1.53 %
S3 128.00 -2.21 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 130.89
Support S1 117.24 -10.43%
S2 115.28 -11.93%
S3 110.01 -15.95%

FAQ

What is the symbol for Mohawk Industries Inc Stock and on which exchange is it traded?
The symbol for Mohawk Industries Inc is MHK and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Mohawk Industries Inc Stock?
Mohawk Industries Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

How to buy Mohawk Industries Inc Stock?
Mohawk Industries Inc Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Mohawk Industries Inc Stock.

What's the current price of Mohawk Industries Inc Stock?
As of the end of day on the 2024-03-28, the price of an Mohawk Industries Inc (MHK) share was $130.89.

What is the 52-week high and low for Mohawk Industries Inc Stock?
The 52-week high for Mohawk Industries Inc Stock is $131.18 and the 52-week low is $76.02.

What is the market capitalization of Mohawk Industries Inc Stock?
As of the 2024-03-28, the market capitalization of Mohawk Industries Inc is 8.337B.

When is the next earnings date for Mohawk Industries Inc?
The upcoming earnings date for Mohawk Industries Inc is Apr 25, 2024.
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About Mohawk Industries Inc

Mohawk Industries Mohawk Industries, Inc. designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces in the United States, Europe, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW). The Global Ceramic segment provides a range of ceramic tile, porcelain tile, and ... MHK Profile

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