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Monster Worldwide (MWW) Approaches New Downside Target of $4.95

Published on Tue, 02/26/2013 - 10:39
By Peter Chu

Monster Worldwide (NYSE:MWW) has opened bearishly below the pivot of $5.11 today and has reached the first level of support at $5.01. Should the shares continue to fall, the support pivots of $4.95 and $4.79 will be of interest.

Potential upside of 50.6% exists for Monster Worldwide, based on a current level of $4.98 and analysts' average consensus price target of $7.50. The stock should run into initial resistance at its 50-day moving average (MA) of $5.71 and subsequent resistance at its 200-day MA of $6.94.

Monster Worldwide, Inc., through its subsidiaries, offers help wanted advertisements over the Internet. The Company charges employers and human resource professionals to post and search advertisements, and allows job seekers to search job postings and post their resumes free of charge. Monster also operates websites that connect companies to highly targeted audiences.

In the past 52 weeks, Monster Worldwide share prices have been bracketed by a current low of $4.96 and a high of $10.40 and are now at $4.98. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has slid 0.6%.

By Peter Chu