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Archive
- 11/8/2024 -
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Mohawk Industries (MHK) Technical Analysis
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| Summary:
| | | Weekly : | | Daily : 
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| | It was a second consecutive positive week for the Mohawk Industries (MHK). During the week, the MHK gained 11.60 points, or 8.64%, and closed at 145.90 on Friday, November 8, 2024. It was the best weekly gain since July 26, 2024. Weekly volume was 55% above average.
 Long-term trend: [See MHK long-term trend chart]
A long-term downtrend had started on December 4, 2017 at 286.85 and reached 56.62 on March 23, 2020. MHK lost 230.23 points, or 80.26%, in 120 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 81.58 and resistance is at 175.47. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.
 Medium-term trend: [See MHK medium-term trend chart]
A medium-term uptrend had started on June 25, 2024 at 104.88 and reached 164.29 on October 21, 2024. MHK gained -59.41 points, or -56.65%, in 16 weeks. The price is now at the 30.95% retracement level.
 Weekly Technical Indicators: [See MHK weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 18, 2024. Use the following link to access a MACD help.
Short-term trend: [See MHK short-term trend chart]
A short-term uptrend had started on October 29, 2024 at 128.00 and reached 148.60 on November 8, 2024. MHK gained -20.60 points, or -16.09%, in 10 days. The price is now at the 13.11% retracement level.
Daily Technical Indicators: [See MHK daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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