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Monster Worldwide (MWW) Crosses Pivot Point Support at $4.31

Published on Wed, 05/01/2013 - 09:46
By Adrienne Chilton

Shares of Monster Worldwide (NYSE:MWW) opened today below their pivot of $4.40 and have already reached the first level of support at $4.31. Analysts will be watching for a cross of the next downside pivot targets of $4.23 and $4.06.

In the past 52 weeks, Monster Worldwide share prices have been bracketed by a low of $4.02 and a high of $9.63 and are now at $4.30, 7% above that low price. The 200-day and 50-day moving averages have moved 0.92% lower and 1.37% lower over the past week, respectively.

Monster Worldwide has overhead space with shares priced $4.30, or 42.6% below the average consensus analyst price target of $7.50. The stock should run into initial resistance at its 50-day moving average (MA) of $4.85 and subsequent resistance at its 200-day MA of $6.13.

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.

By Adrienne Chilton