Evaluating NASDAQ:MMYT for high Growth Investment Opportunities.

A possible breakout setup was detected on MAKEMYTRIP LTD (NASDAQ:MMYT) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NASDAQ:MMYT.

Insights from Technical Analysis

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

Overall MMYT gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MMYT is showing a nice and steady performance.

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that MMYT is one of the better performing stocks in the market, outperforming 95% of all stocks. We also observe that the gains produced by MMYT over the past year are nicely spread over this period.
• MMYT is part of the Hotels, Restaurants & Leisure industry. There are 135 other stocks in this industry. MMYT outperforms 94% of them.
• MMYT is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month MMYT has a been trading in the 96.54 - 113.61 range, which is quite wide. It is currently trading near the high of this range.
• Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

For an up to date full technical analysis you can check the technical report of MMYT

How do we evaluate the setup for NASDAQ:MMYT?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NASDAQ:MMYT has a 8 as its setup rating, indicating its current consolidation status.

MMYT has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 108.74. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 100.53, a Stop Loss order could be placed below this zone.

What matters for high growth investors.

• In the most recent financial report, MAKEMYTRIP LTD reported a 44.0% increase in quarterly earnings compared to the previous quarter. This notable growth indicates positive momentum in the company's financials, suggesting an upward trend
• With impressive quarter-to-quarter (Q2Q) revenue growth of 25.08%, MAKEMYTRIP LTD showcases its ability to generate increased sales and revenue. This growth indicates the company's strong customer demand and its effective business strategies.
• With notable 1-year revenue growth of 28.96%, MAKEMYTRIP LTD exemplifies its ability to generate increased sales and revenue streams. This growth signifies the company's strong business performance and its potential for future growth.
• The average next Quarter EPS Estimate by analysts was adjusted by 16.88%, reflecting the evolving market expectations for the company's EPS growth.
• The recent financial report of MAKEMYTRIP LTD demonstrates a 44.0% increase in quarterly earnings compared to the previous quarter. This growth indicates positive momentum in the company's financials and suggests a promising upward trend
• MAKEMYTRIP LTD has experienced notable growth in its operating margin over the past year, reflecting improved operational performance. This growth suggests the company's ability to generate higher profits from its core business activities.
• MAKEMYTRIP LTD has experienced notable growth in its free cash flow (FCF) over the past year, signaling improved cash generation and strong financial performance. This growth suggests the company's ability to generate excess cash for reinvestment or shareholder returns.
• MAKEMYTRIP LTD has a healthy Return on Equity(ROE) of 20.17%. This demonstrates the company's efficient utilization of capital and indicates its commitment to driving profitability.
• MAKEMYTRIP LTD maintains a healthy Debt-to-Equity ratio of 0.19. This indicates the company's conservative capital structure and signifies its ability to effectively manage debt obligations while maintaining a strong equity position.
• The ownership composition of MAKEMYTRIP LTD reflects a balanced investor ecosystem, with institutional shareholders owning 50.21%. This indicates a broader market participation and potential for increased trading liquidity.
• MAKEMYTRIP LTD has consistently exceeded EPS estimates in the last 4 quarters, demonstrating its ability to outperform market expectations. This trend highlights the company's strong financial performance and its potential for future growth.
• MAKEMYTRIP LTD has achieved an impressive Relative Strength (RS) rating of 95.83, showcasing its ability to outperform the broader market. This strong performance positions MAKEMYTRIP LTD as an attractive stock for potential price appreciation.

More high growth momentum breakout stocks can be found in our High Growth Momentum Breakout screen.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.