Mohawk (MHK) – A New Floor in Flooring – April 17th, 2019
The bullish DailyPlay we chose for Wednesday, April 17th is Mohawk Industries (MHK). MHK is part of the Consumer Discretionary Sector (XLY). XLY has rallied 6.64% higher over the past month and its 1m and 6m trend turned bullish on March 15th and just set a new 52 week high.
Mohawk’s 1m and trends turned bullish on April 5th while breaking above its $130 resistance level which now becomes support. With a technical score of 3 (out of 10), MHK is a weak stock that is starting to trend higher.
As a stop loss, if MHK was to trade below $130 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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