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Possible Bearish Inside Day Candle Pattern Detected for Monster Worldwide (NYSE:MWW)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Monster Worldwide (NYSE:MWW) based on the price action in the company's shares. Today's price range of $3.45 and $3.49 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Monster Worldwide may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Monster Worldwide share prices have moved between a 52-week high of $8.23 and a 52-week low of $2.13 and are now trading 62% above that low price at $3.45 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has advanced 0.6%.

Potential upside of 128.7% exists for Monster Worldwide, based on a current level of $3.45 and analysts' average consensus price target of $7.89. Monster Worldwide shares should encounter resistance at the 200-day moving average (MA) of $5.40 and support at the 50-day MA of $3.19.

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.

SmarTrend is monitoring the recent change of momentum in Monster Worldwide. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Monster Worldwide in search of a potential trend change.

Keywords: bearish inside day candle monster worldwide

Ticker(s): MWW