MMYT Technical Analysis - MAKEMYTRIP LTD

Technical Rating and Analysis

Overall MMYT gets a technical rating of 0 out of 10. MMYT scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.

Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.

When comparing the yearly performance of all stocks, MMYT is a bad performer in the overall market: 80% of all stocks are doing better.

MMYT is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

In the last month MMYT has a been trading in the 87.95 - 103.23 range, which is quite wide. It is currently trading near the lows of this range.

Prices have been falling strongly lately, it is better to avoid new long positions here.

MMYT is an average performer in the Hotels, Restaurants & Leisure industry, it outperforms 50% of 135 stocks in the same industry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

MAKEMYTRIP LTD / MMYT Weekly stock chart

Setup Rating and Analysis

The technical rating of MMYT is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

86.24

104.43

We found 1 important support area.

Support @87.11 from a horizontal line in the weekly time frame.

When analyzing the resistance we notice 4 important areas.

A resistance zone ranging from 94.35 to 96.99. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @98.56 from a trend line in the weekly time frame.
A resistance zone ranging from 100.80 to 100.88. This zone is formed by a combination of multiple trend lines in the daily time frame.
A resistance zone ranging from 103.21 to 103.40. This zone is formed by a combination of multiple trend lines in multiple time frames.

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What is Support and Resistance

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	DOWN	NEGATIVE	The long term trend for MMYT is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for MMYT is down.
ChartMill Relative Strength	20.12	NEGATIVE	MMYT has a low relative strength, it was outperformed by 79.88% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of MMYT is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of MMYT is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of MMYT is below a declining SMA(200).
Relative Strength Index/RSI (14)	33.41	NEUTRAL	The RSI value for MMYT is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.49	NEGATIVE	The MACD value suggests MMYT has a negative trend.
Stochastics (14,3)	8.22	OVERSOLD	The low Stochastics value suggests MMYT may be oversold.
Average True Range in percent/ATR (20)	3.38	MEDIUM VOLATILITY	The ATR as a percentage value for MMYT suggests some volalility.
Average Directional Index/ADX (14)	9.78	NEGATIVE	The low ADX value for MMYT suggests a weak or negative trend.