Mohawk Industries is trading in a bullish trend and several arguments argue for the continuation of this trend.
Firstly, the high valuation of the group shows a great investors confidence in it because there are ready to pay a high price for the stock. Moreover, the consensus revised upward EPS estimates for this year and that open a great potential for the security on the stock market.
From a technical viewpoint, the security is trading in a bullish trend on all time scales. Increasing moving averages let think there will be no reversal in the coming trading sessions. A short term resistance has been broken at USD 116.60 and the security seems well-established to continue its uptrend. Important volume occurred last session argue for this upward strategy.
According to both technical and fundamental elements, it seems opportune to take a long position at the current price. The bullish trend should allow the security to reach the USD 125 resistance. If the stock crosses it, a new target price will be set at USD 130. A stop loss will be placed under the USD 113.10 short term support to avoid a downtrend.
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Mohawk Industries, Inc. specializes in manufacturing and marketing ground coating products. The group's products are sold under the Mohawk, Aladdin, American Olean, Bigelow, Century Flooring, Columbia Flooring, Dal-Tile, Durkan, Horizon, Karastan, Lees, Merit, PureBond, Quick-Step, Uniclic, Unilin brands, etc. Net sales break down by family of products as follows:
- carpets and rugs (38.3%);
- tile products (35.2%): ceramic, porcelain, marble and natural stone tiles;
- floors (16.5%): solid wood flooring, laminate flooring and vinyl flooring;
- other (10%).
At the end of 2021, the group had 69 production sites worldwide.
Net sales break down geographically as follows: the United States (55.2%), Europe (27.8%), Russia (4%) and other (13%).
MOHAWK INDUSTRIES, INC. 
