Monster Worldwide Inc. (MWW) — This company offers online employment solutions that provide a network of Web sites connecting employers with employees.
The stock fell from more than $60 in 2006 to less than $6 in March 2009.
On July 29, at $13.57, I said, “The stock broke from a cup-and-handle on April 29, executed a gold cross in early June, and now appears to be headed higher following a break on July 23 from a bullish channel. The target for this latest break is $16.50 to $18.”
MWW made it to $19.28 on Sept. 22, and then retreated on profit-taking and news of worldwide economic difficulties. But in late October, MWW stabilized at its bullish support line and reversed from the line again on Nov. 30.
The stock is trading in a well-defined channel uptrend with the line now at just above $15 and rising. The 20-day moving average just issued a buy signal as it crossed over the 50-day moving average.
Standard & Poor’s rates MWW a “four-star buy” with a target of $20. My technical target for a trade is $22-$23.
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