MMYT - How to Identify the Opportunity and Potential Pitfalls in Makemytrip
This Makemytrip (NASDAQ: MMYT) report helps investors and traders identify both opportunity, and potential red flags, by using the price action of the stock. The trading plans for MMYT have risk controls, and that make these observations both opportunistic and defensive, but the data on this page is not real time. If you want a real time update, or a different stock, please get one here Unlimited Real Time Reports .
Technical Summary
| Term ? | Near | Mid | Long |
|---|---|---|---|
| Bias | |||
| Weak | |||
| Weak | |||
| Strong | |||
| P1 | |||
| 0 | |||
| 0 | |||
| 28.45 | |||
| P2 | |||
| 25.93 | |||
| 26.54 | |||
| 32.78 | |||
| P3 | |||
| 27.08 | |||
| 28.28 | |||
| 37.66 |
Long Term Trading Plans for MMYT
April 15, 2021, 4:45 pm ET
The Technical Summary and Trading Plans for MMYT help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this MMYT Report.
MMYT - (Long) Support Plan
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.
MMYT - (Short) Resistance Plan
The technical summary data is suggesting a short of MMYT as it gets near 28.45, 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 28.53. 28.45 is the first level of resistance above 26.05, and by rule, any test of resistance is a short signal. In this case, if resistance 28.45 is being tested, so a short signal would exist.