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Rant & Rave Blog

The Trend In Mohawk Industries Is Down, Here Is The Bottom...

Posted by Nick Santiago Wednesday, May 16, 2018, 11:58AM ET

Read 767 times

Mohawk Industries Inc (NYSE:MHK) is a leading flooring manufacturer that creates products for residential and commercial spaces around the world. The stock peaked out on December 4, 2017 at $286.85 a share. Since that high pivot, the stock has steadily been declining and trending lower. Today, MHK stock is trading lower by 0.47 cents to $208.41 a share. The next important support level for MHK stock will be around the psychological $200.00 level, but that may not hold very long. You see, MHK stock trades less than a million share a day on average. Very often, stocks that do not trade heavy volume or over a million shares a day are susceptible to trading below there near term technical support levels. This is called overshoot and it tells me that the $185.00 area will likely be the next spot for a major bottom in the stock.       

 

Watch This Video: Trade Setups, Million Dollar Market Analysis 

 

 

 

 

Nick Santiago

www.inthemoneystocks.com

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