MAKEMYTRIP LTD (MMYT) Stock Technical Analysis
NASDAQ:MMYT - Nasdaq - MU0295S00016 - Common Stock - Currency: USD
We assign a technical rating of 6 out of 10 to MMYT. Although MMYT is scoring some points because its good overall performance in the market in the past year, recent evolutions are not that positive. Both the medium and short term picture give negative signs.
When comparing the yearly performance of all stocks, we notice that MMYT is one of the better performing stocks in the market, outperforming 88% of all stocks.
MMYT is one of the better performing stocks in the Hotels, Restaurants & Leisure industry, it outperforms 79% of 135 stocks in the same industry.
The long and short term trends are both neutral. This gives a pretty neutral overall picture!
MMYT is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so MMYT is lagging the market slightly.
In the last month MMYT has a been trading in the 94.20 - 113.85 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Considerably lower volume is observed in the last couple of days.
Although the technical rating is only medium, MMYT does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 111.36. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 102.67, a Stop Loss order could be placed below this zone.
More info and screens
84.10
114.34
5 important support areas can be observed.
- A support zone ranging from 101.92 to 102.67. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 97.13 to 97.92. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @91.00 from a trend line in the daily time frame.
- Support @86.91 from a horizontal line in the daily time frame.
- Support @84.95 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 111.36 to 113.21. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | NEUTRAL | NEUTRAL | The long term trend for MMYT is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MMYT is neutral. |
| ChartMill Relative Strength | 88.22 | POSITIVE | MMYT has a high relative strength, it outperformed 88.22% 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) | UP | POSITIVE | The current price of MMYT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MMYT is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 49.63 | NEUTRAL | The RSI value for MMYT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.69 | NEGATIVE | The MACD value suggests MMYT has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 37.56 | NEUTRAL | The Stochastics value for MMYT is a neutral value. |
| Average True Range in percent/ATR (20) | 4.8 | MEDIUM VOLATILITY | The ATR as a percentage value for MMYT suggests some volalility. |
| Average Directional Index/ADX (14) | 18.56 | NEGATIVE | The low ADX value for MMYT suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 103.94 | 101.91 | 2.03 (1.95%) | 25.00% |
| An entry @103.94. This is a Buy Stop order right above the 10 day moving average. | An exit @101.91. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 2.03 points, which is 1.95%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.49%. |
- The distance between exit and entry is rather small compared to the average daily movement of MMYT. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
103.37
+2.64 (+2.62%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Discretionary
GICS IndustryHotels, Restaurants & Leisure
Performance
% Chg2.62%
1 Week-1.96%
2 Weeks5.57%
1 Month-3.97%
3 Month5.62%
6 Month-4.93%
12 Month30.45%
2 Year296.51%
3 Year273.72%
5 Year567.33%
10 Year432.84%
15 YearN/A
Volatility
ATR(14)5.4
ATR(20)%4.8%
ATR Inc-24.59%
Range Today5.15
ADR(20)4.57
ADR(20)%4.42%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS88.22
Mansfield0.22
10 Day High110.59
10 Day Low98.6
20 Day High113.85
20 Day Low94.2
52 Week High123
52 Week Low72.55
CS1 End102.67
CR1 Start111.36
Volume & EV
DER(3)1.44%
DER(5)-0.33%
Volume357.30K
Volume Incr-54.54%
Vol(5)377.34K
Vol(50)770.56K