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Raising the Target on Monster Worldwide (MWW)

by Sam Collins 08/24/09

Monster Worldwide, Inc. (MWW) -- This worldwide online employment solutions company that provides a network of websites connecting employers with employees fell from over $60 in 2006 to under $6 in May '09.

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On July 29 the DMO said, "But that was the bottom for this employment company and it broke from a Cup & Handle on April 29, executed a Golden Cross in early June, and now appears headed higher, following a break last Thursday 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 to $20.

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