How the price action of Makemytrip (MMYT) is used to our Advantage

Source: Stock Traders Daily

Longer Term Trading Plans for MMYT
  • NONE. Details
  • There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

  • Short MMYT under 26.64, target n/a, stop loss @ 26.72 Details
  • The technical summary data is suggesting a short of MMYT as it gets near 26.64, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 26.72. 26.64 is the first level of resistance above 24.7, and by rule, any test of resistance is a short signal. In this case, if resistance 26.64 is being tested, so a short signal would exist.

Swing Trading Plans for MMYT
  • Buy MMYT over 25.50, target 26.68, Stop Loss @ 25.43 Details
  • If 25.50 begins to break higher, the technical summary data tells us to buy MMYT just over 25.50, with an upside target of 26.68. The data also tells us to set a stop loss @ 25.43 in case the stock turns against the trade. 25.50 is the first level of resistance above 24.7, and by rule, any break above resistance is a buy signal. In this case, 25.50, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short MMYT near 25.50, target n/a, Stop Loss @ 25.57. Details
  • The technical summary data is suggesting a short of MMYT if it tests 25.50 with a downside target of n/a. We should have a stop loss in place at 25.57 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 25.50, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for MMYT
  • Buy MMYT over 24.84, target 25.70, Stop Loss @ 24.78 Details
  • If 24.84 begins to break higher, the technical summary data tells us to buy MMYT just over 24.84, with an upside target of 25.70. The data also tells us to set a stop loss @ 24.78 in case the stock turns against the trade. 24.84 is the first level of resistance above 24.7, and by rule, any break above resistance is a buy signal. In this case, 24.84, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short MMYT near 24.84, target n/a, Stop Loss @ 24.9. Details
  • The technical summary data is suggesting a short of MMYT if it tests 24.84 with a downside target of n/a. We should have a stop loss in place at 24.9 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 24.84, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

MMYT Technical Summary | Raw Data for the Trading Plans

Term →Near Mid Long
Bias Neutral Neutral Strong
P1 0 0 26.64
P2 24.84 25.50 31.99
P3 25.70 26.68 38.20

MMYT Long Term Analysis for September 11 2021


MMYT Swing Trading Analysis for September 11 2021


MMYT Day Trading Analysis for September 11 2021

Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Makemytrip (NASDAQ: MMYT) data table below can help you with price action, and we have more details too. Trading plans for MMYT are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.

Graph of Evitar Corte vs S&P 500

AD