Monster Worldwide Ready to Break Higher

Shares of Monster Worldwide

are trading higher on the session by 4.11%, at $8.62. The stock just hit a fresh high of the day, at $8.72, before pulling back slightly. Monster Worldwide has been consolidating lower for the past two weeks following a high volume spike higher in later August. MWW now appears ready to make another run higher for two major reasons: First, shares formed a hammer yesterday and are now trading above yesterday's range. Second, shares are trading just under the 20-day moving average. If Monster Worldwide can regain the 20-day, which is barely pennies above, short covering could take place in a hurry. Note that Monster Worldwide has 11.90% short interest. The best way to play this break is to buy shares between $8.58-8.60 and have a sell stop around today's lows. Monster Worldwide, Inc. provides global online employment solution. With a presence in approximately 55 countries globally, including key markets in North America, Europe, Asia and Latin America, Monster offers online recruiting solutions.