MMYT - Political Decisions Influence Makemytrip #MMYT and Investors Should Listen
No matter what industry we are talking about, #politics and policy changes can affect the #price of a #stock in that industry, and Makemytrip (NASDAQ: MMYT) is not an exception. MMYT like every other company, it will experience ebbs and flows based on this type of news too, so it is important for us to pay attention. The good news is, Wall Street usually prices in events like this before they happen. The Stock Market is an exceptional forecasting tool, so if we pay attention to price we can often determine what will happen before it happens. That is exactly what we attempt to do using the price data below. This data changes over time, so we suggest updating the data for the most actionable results. For an update, please request Unlimited Real Time Reports .
Technical Summary
| Term ? | Near | Mid | Long |
|---|---|---|---|
| Bias | |||
| Weak | |||
| Neutral | |||
| Strong | |||
| P1 | |||
| 0 | |||
| 0 | |||
| 28.51 | |||
| P2 | |||
| 24.33 | |||
| 25.53 | |||
| 33.20 | |||
| P3 | |||
| 25.02 | |||
| 27.80 | |||
| 38.51 |
Long Term Trading Plans for MMYT
May 6, 2021, 9:30 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 28.51, 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 28.59. 28.51 is the first level of resistance above 24.99, and by rule, any test of resistance is a short signal. In this case, if resistance 28.51 is being tested, so a short signal would exist.