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Monster Worldwide (MWW) Breaks Through Resistance at $5.01

Published on Wed, 03/06/2013 - 13:39
By Adrienne Chilton

Shares of Monster Worldwide (NYSE:MWW) opened today above their pivot of $4.98 and have already reached the first level of resistance at $5.01. Analysts will be watching for a cross of the next upside pivot targets of $5.05 and $5.12.

Over the past year, Monster Worldwide has traded in a range of $4.94 to $10.40 and is now at $5.04, 2% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 1.1%.

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.

Monster Worldwide (NYSE:MWW) has potential upside of 48.7% based on a current price of $5.04 and analysts' consensus price target of $7.50. The stock should find initial resistance at its 50-day moving average (MA) of $5.61 and further resistance at its 200-day MA of $6.84.

By Adrienne Chilton
achilton@fnno.com