M1HK34 trade ideas
MHK SHORT / LONG 041824I like Mohawk Industies a little lower to go long. There is a FVG around $100 per share and I would set an alert to go long at that position.
If you wish to go short in the next 2 weeks, I would tread carefully and exit with a quick TP.
Otherwise setup an alert for price to reach $102 and hit buy from there.
Happy Trading,
#MHK two-cause resistance levelFirst reason:
An analysis of options trading results from the previous trading session revealed abnormal trading volume at strike 110, significantly higher than the average #MHK option trading volume( more than 1000% of average)
Second:
The analysis of the graphs indicates that there is a significant amount of buying activity at the price level (indicated on the chart). This will likely lead to a resurgence of buying activity when we approach that level again, thereby generating the necessary liquidity to initiate counter positions on the side of the SMART MONEY.
Mohawk Industries (NYSE: $MHK) Sitting In Golden Pocket! 🚧Mohawk Industries, Inc. designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces in the United States, Europe, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW). The Global Ceramic segment provides a range of ceramic tile, porcelain tile, and natural stone products; and sources, markets, and distributes other tile related products. This segment markets and distributes its products under the American Olean, Daltile, Eliane, EmilGroup, KAI, Kerama Marazzi, Marazzi, and Ragno brands. The Flooring NA segment offers floor covering product lines in a range of colors, textures, and patterns, including carpets, carpet tiles, rugs and mats, carpet pads, hardwood, laminate, medium-density fiberboards, luxury vinyl tiles (LVT), and sheet vinyl products. This segment markets and distributes its flooring products under the Aladdin Commercial, Durkan, IVC, Karastan, Mohawk, Mohawk Group, Mohawk Home, Pergo, Portico, and Quick-Step brands. The Flooring ROW segment provides wood flooring and vinyl flooring, as well as laminates, roofing elements, sheet vinyl, LVT, insulation boards, medium-density fiberboards, chipboards, and other woods products under the Feltex, Godfrey Hirst, Hycraft, IVC Commercial, IVC Home, Leoline, Moduleo, Pergo, Quick-Step, and Unilin and Xtratherm brands; and licenses its intellectual property to flooring manufacturers. Mohawk Industries, Inc. was incorporated in 1988 and is headquartered in Calhoun, Georgia.
MHKMohawk Industries Inc. the world's largest manufacturer of flooring for residential and commercial markets. The company manufactures a wide range of ceramic tiles, porcelain tile, natural stone tiles, carpet tiles, carpets, carpet cushions, laminate and vinyl products, and more. Mohawk is a major supplier of all major flooring categories with manufacturing operations in 18 countries and sales in more than 170 countries.
The company's shares are at an interesting level of 145, which corresponds to 0.5 fibo not in the logarithm and 0.382 in the logarithm. On the daily chart, we see strong and extended bullish divergences. On the weekly chart, the RSI is already close to the zone below 30, but is probably still going down.
And this means that we can go to 137 and 124. It is problematic to determine the level in the current market exactly here, it is easier to indicate the range.
From the point of view of wave analysis, there is no particular point in arguing, this may already be the final c, or maybe 3k only in wave a, we will later understand the structure more clearly. For now, it's enough that we understand the importance of the range and the likely end of the stock's correction.
You can buy back from here, if only you are ready for a possible drawdown
Mohawk is oversold. Is this one ready to run up?I have changed up how to best display projected movement. In the case of MHK, 4 of my algorithms signaled a BUY on March 24, 2021. Equities nearly always obey the signal and move up, but sometimes it may continue to move down first.
I have placed two red boxes and two green boxes on the chart. The larger red box depicts all of the historical movement, from a percentage standpoint, that this stock has moved on the 3 Hour chart after a BUY signal occurred. Therefore, this box represents 100% of previous movement downward before the stock finally moved upward. The smaller red box represents 50% of all historical movement downward, before the stock moved upward. The smaller box is more of a precise target for the potential bottom in this instance.
The green boxes represent the same thing. In this instance, the smaller green box would be my projected target for the final top.
The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement.
As always, the stock could rise the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never rise (and the green boxes may never come into play).
All statistics and the full analysis are available for free as always at the site below.
US Stock In Play: $MHK (Mohawk Industries Inc)$MHK displayed a open drive pattern, gapping up from $159.71 to $168.04 during the second week of February trading week. The share price further soared to this week's high of $185.85, before tumbling to a low of $168.1 as Federal Reserve Chairman comments this morning reignite global stock jitters.
At the current junction, $MHK remains supported by its 20DMA, with a potential pivotal towards a new 52 weeks high.
$MHK designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces in the United States, Europe, Russia, and internationally.
Big Potential for MOHAWK INDUSTRIES Hey traders, MOHAWK INDUSTRIES is in a bullish push with a hammer candle shape and strong sell volume issued. The TIMEFRAME M1 shows a marubozu with a low voume traded it goes towards the base for testing. Then after the highest before she will test the top of the consolidation zone. Big possibility of breaking the price with the return of buying momentum then the zone to come into another and arrive on the top which comes with two excesses (on the TIMEFRAME H4).
Then four excesses (on TIMEFRAME H1) + re-test of the top of the bullish channel for pull back addition of a symbolic number of 152.00.
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Mohawk Industries Too many tiles cracking... down?Sometimes happens when the stocks don't follow the trendline, a free fall could be triggered pretty fast.
However, it could be a very good opportunity to buy at that level. Stay tuned for it.
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