Mohawk Industries, Inc. : Still a great upward potential
March 11, 2013 at 09:43 am EDT
By
Entry price | Target | Stop-loss | Potential |
---|
$112.3 |
$0 |
$106.4 |
-100% |
---|
Mohawk Industries is trading in a bullish trend and several elements argue for the continuation of this trend.
The company’s fundamentals are still strong. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates.
Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. In daily data, the 20-day moving average helps the stock to keep its uptrend.
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 127.1 resistance. A stop loss will be placed under the USD 106.7 short term support to avoid a downtrend.
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