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Downtrend ExhaustionArchive
- 1/24/2025 -
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Mohawk Industries (MHK) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Mohawk Industries (MHK). During the week, the MHK dropped -4.00 points, or -3.09%, and closed at 125.30 on Friday, January 24, 2025. Weekly volume was 31% 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 82.65 and resistance is at 172.28. 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 October 27, 2023 at 76.02 and reached 164.29 on October 21, 2024. MHK gained -88.27 points, or -116.11%, in 51 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (130.57) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See MHK weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. 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.
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 January 8, 2025 at 115.70 and reached 132.20 on January 23, 2025. MHK gained -16.50 points, or -14.26%, in 15 days. The price is now at the 41.82% retracement level.
 Daily Technical Indicators: [See MHK daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic.
The daily MACD line is above its signal line since January 3, 2025. This is an indication that the short-term trend is up.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 declined below 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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