Mohawk 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
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