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

July 04, 2021, 06:15 am ET, BY Allen K.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

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.

Longer Term Trading Plans for MMYT

• Buy MMYT slightly over 27.99 target 33.29 stop loss @ 27.91 Details

The technical summary data tells us to buy MMYT near 27.99 with an upside target of 33.29. This data also tells us to set a stop loss @ 27.91 to protect against excessive loss in case the stock begins to move against the trade. 27.99 is the first level of support below 29.86 , and by rule, any test of support is a buy signal. In this case, support 27.99 would be being tested, so a buy signal would exist.

• Short MMYT under 33.29, target 27.99, stop loss @ 33.39 Details

The technical summary data is suggesting a short of MMYT as it gets near 33.29 with a downside target of 27.99. We should have a stop loss in place at 33.39though. 33.29 is the first level of resistance above 29.86, and by rule, any test of resistance is a short signal. In this case, if resistance 33.29 is being tested, so a short signal would exist.

Swing Trading Plans for MMYT

• Buy MMYT slightly over 32.10, target 33.29, Stop Loss @ 32.01 Details

If 32.10 begins to break higher, the technical summary data tells us to buy MMYT just slightly over 32.10, with an upside target of 33.29. The data also tells us to set a stop loss @ 32.01 in case the stock turns against the trade. 32.10 is the first level of resistance above 29.86, and by rule, any break above resistance is a buy signal. In this case, 32.10, 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 32.10, target 29.70, Stop Loss @ 32.19. Details

The technical summary data is suggesting a short of MMYT if it tests 32.10 with a downside target of 29.70. We should have a stop loss in place at 32.19 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, 32.10, 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 slightly over 30.01, target 32.10, Stop Loss @ 29.94 Details

If 30.01 begins to break higher, the technical summary data tells us to buy MMYT just slightly over 30.01, with an upside target of 32.10. The data also tells us to set a stop loss @ 29.94 in case the stock turns against the trade. 30.01 is the first level of resistance above 29.86, and by rule, any break above resistance is a buy signal. In this case, 30.01, 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 30.01, target 29.70, Stop Loss @ 30.08. Details

The technical summary data is suggesting a short of MMYT if it tests 30.01 with a downside target of 29.70. We should have a stop loss in place at 30.08 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, 30.01, 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 Ratings for July 04:

Term →	Near	Mid	Long
Rating	Weak	Strong	Strong
P1	0	0	27.99
P2	29.30	29.70	33.29
P3	30.01	32.10	39.34

Support and Resistance Plot Chart for MMYT

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