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02-21-2007, 09:44 AM
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contributing website
 
Join Date: Oct 2006
Posts: 154
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Mohawk Industries (MHK) NYSE 2/20/2007
From Wall Street Trader's Column
MOHAWK INDUSTRIES (MHK-NYSE): Technical Viewpoint: From a low of $77.90 on Jan 31, 2007 prices rallied, reaching a high of $87.76 on Feb 2, 2007. A decline saw prices pull back, reaching a low of $82.40 on Feb 9, 2007. Another rally saw prices penetrate resistance line "A", closing 2/16/07 at $93.89. Technicals: MACD Index (MACD): A Buy Alert! was given on Feb 16, 2007 when the solid line crossed the dotted line to the upside. Support: Remains at $87.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Feb 16, 2007. A P&F downside reversal takes place at $91.00. Summary: Technical indicators have turned bullish. BUY! MOHAWK INDUSTRIES (MHK-NYSE) @ $94.38 Stop: Use a protective stop of $91.63. MOHAWK INDUSTRIES is currently trading @ $93.89 plus $9.26 on Feb 16, 2007. Price Objective: $125.00. Risk/Reward: $2.75 VS. $30.62. Today's Risk Reward Ratio: 11.1 
Last edited by Thierry Martin; 04-24-2007 at 11:43 AM. |
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