MMYT trade ideas
Buy MakeMyTripShort Term Trading Advice by Naranj Capital
Buy MakeMyTrip
● Buy Range- 79.5 - 81
● Target- 88 - 90
● StopLoss- 74
● Potential Return- 9-11%
● Duration- 14-15 Trading Days
Make Mytrip Limited - MMYT - Short / Mid Term InvestmentMake Mytrip Limited CMP $49.53 / Positional Trade Setup
Buy Range $45 - $50 / Strict Stop Loss $39.50
Target 1 - $53.50
Target 2 - $60.00
Target 3 - $75.00
Disclaimer: This is my view and for educational purpose only
MMYT Setting UpNot much out there ready for Monday. Plan is to stay away from screens and let things/open positions "simmer".
NASDAQ:MMYT is literary the only setups that interests me.
Failed Breakout Reset setup.
MMYT: Breakout Confirmed, 36.31% Potential Profit!Description: MMYT is trending higher and in an uptrend meaning that highs are getting higher and lows are getting higher. The uptrend line on the chart and the Trending Band Indicator (which measures trend) supports the Long Position.
Stats:
1. Ideal buy range: $27.4 - $29.3
2. Take profit: $37.5
3. Stop Loss: $25.57
4. Risk To Reward: 1 / 5
5. Accuracy Rating: 91%
2020 Actual Trade: MMYT +30% Profits
MMYT is an india travel online booking company for flight, hotel, and related travel service which is like PriceLine in the USA. Rising India middle class due to economic expansion in manufacture and technology like software, MMYT is on the right spot
Technically, textbook example cup-with-handle base set up its upside potential from June to October
It is important to mark the neckline 18-18.5 because this is the resistance for now. It will become support level after the breakout when pullback occurs.
Entry point is correct at breakout level 10/20 when it crossed over 18.5 resistance.
MMYT took off the ground quickly for a quick short-term profit if swing traders were there.
Although there was a sharp pullback wiping out all the paper profits. But 18 support line comes to rescue and support MMYT.
MMYT quickly rebounded at 18 and jumped up vertically. Including a gap-up follow-up breakout again in November 9 from 21 to 23, MMYT cannot wait any moment for anyone who missed the boarding time which was 10/20.
MMYT finished up +30% in one month for this journey
MMYT US listed Make my tripCompany growing revenue while earnings are still heading south. Interesting to see earnings report whether management can start making growing revenue turn into positive earnings. Mcap chart tells the chart has already broken out of long term base, but is it relevant?
Bull Flag BreakoutSo the weekly formed a bull flag with a $27.30 flagpole. The next move started at $23.00. Target price is $50.00
LongHey guys these are my thoughts on MMYt and why i like this stock:
The stock just broke the new all time high.
The stock not only broke the new all time high but it brokes the new all time with a very strong candle.
The volume was very high so that shows interest on the bullish side.
As you can see the stock broke a nice asccending triangle so this is very positive for a potential upside.
You can also see that the stock broke a nice little flag pattern, the stock moved up for a nice gain , then retrace for two days and then today continue his upside move so i like the stock.
