Mohawk Industries Inc (MHK): Price Now Near $199.8; Daily Chart Shows An Uptrend on 50 Day Basis

The Hourly View for MHK

Currently, MHK (Get Ratings)’s price is up $0.06 (0.03%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as MHK has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

MHK’s Technical Outlook on the Daily Chart

At the time of this writing, MHK’s price is down $-0.66 (-0.33%) from the day prior. The daily chart shows that MHK has seen 2 straight down days. Regarding the trend, note that the strongest trend exists on the 20 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The chart below shows MHK’s price action over the past 90 days.

MHK

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