Monster Worldwide (MWW) Breaks Out from Double Top

08/25/2009 12:01 am EST

Focus: STOCKS

Monster Worldwide, Inc. (MWW) - This worldwide online employment solutions company, which provides a network of Web sites connecting employers with employees, fell from over $60 in 2006 to under $6 in May 2009.



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Back on July 29, I said, "…But that was the bottom for this employment company and it broke from a cup and handle on April 29, executed a golden cross in early June, and now appears headed higher following a break last Thursday (July 23) from a bull channel. The target for this latest break is $16.50 to $18. S&P recently raised its opinion on MWW to a buy from a hold."

Now, with a new breakout from a double top, we are raising our target for MWW to $20.

By Sam Collins of OptionsZone.com

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