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Watch for Shares of Monster Worldwide (MWW) to Approach Support at $5.68

Published on Mon, 02/04/2013 - 10:51
By Adrienne Chilton

Shares of Monster Worldwide (NYSE:MWW) opened today below their pivot of $5.79 and have already reached the first level of support at $5.74. Investors may be interested in a cross of the next downside pivot targets of $5.68 and $5.57.

In the past 52 weeks, shares of Monster Worldwide have traded between a low of $5.01 and a high of $10.40 and are now at $5.71, which is 14% above that low price. The 200-day and 50-day moving averages have moved 1.06% lower and 0.11% higher over the past week, respectively.

Monster Worldwide (NYSE:MWW) has potential upside of 55.1% based on a current price of $5.71 and analysts' consensus price target of $8.86. The stock should find initial resistance at its 50-day moving average (MA) of $5.75 and further resistance at its 200-day MA of $7.16.

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