Why NASDAQ:MMYT is Poised for High Growth.

Our stock screener has detected a potential breakout setup on MAKEMYTRIP LTD (NASDAQ:MMYT). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NASDAQ:MMYT.

Analyzing the Technical Aspects

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Taking everything into account, MMYT scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, MMYT has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, MMYT did better than 95% of all other stocks. On top of that, MMYT also shows a nice and consistent pattern of rising prices.
• MMYT is one of the better performing stocks in the Hotels, Restaurants & Leisure industry, it outperforms 95% of 134 stocks in the same industry.
• 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.
• MMYT is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.

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

Why is NASDAQ:MMYT a setup?

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NASDAQ:MMYT scores a 8 out of 10:

Besides having an excellent technical rating, MMYT also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. Very recently a Pocket Pivot signal was observed. This is another positive sign.

What matters for high growth investors.

• The earnings per share (EPS) of MAKEMYTRIP LTD have shown positive growth on a quarter-to-quarter (Q2Q) basis, with a 44.0% increase. This reflects the company's ability to improve its profitability over time.
• MAKEMYTRIP LTD has achieved 25.08% growth in its revenue over the previous quarter, signaling positive momentum in its financial performance and potential market opportunities.
• With impressive 1-year revenue growth of 28.96%, MAKEMYTRIP LTD showcases its ability to generate increased sales and revenue. This growth highlights the company's strong customer demand and its effective business strategies.
• MAKEMYTRIP LTD has seen a 16.88% change in the average next Quarter EPS Estimate by analysts over the last 3 months, signaling the shifting perception of the company's EPS outlook.
• 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 a favorable trend in its operating margin over the past year, MAKEMYTRIP LTD demonstrates its ability to enhance profitability through efficient operations. This growth reflects the company's focus on optimizing its cost structure.
• The free cash flow (FCF) of MAKEMYTRIP LTD has seen steady growth over the past year, indicating enhanced cash flow generation and financial health. This trend underscores the company's effective capital management and its ability to generate sustainable cash flows.
• The Return on Equity (ROE) of MAKEMYTRIP LTD stands at 20.17%, reflecting the company's strong profitability and effective utilization of shareholder equity. This metric signifies the company's ability to generate returns for its investors.
• MAKEMYTRIP LTD exhibits a favorable Debt-to-Equity ratio at 0.19. This highlights the company's ability to limit excessive debt levels and maintain a strong equity base, demonstrating its financial stability and risk management practices.
• With institutional shareholders at 49.92%, MAKEMYTRIP LTD demonstrates a healthy ownership distribution. This reflects a mix of institutional and individual investors, creating a market environment that may foster increased trading activity and price discovery.
• 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 exhibited strong Relative Strength(RS) in recent periods, with a current 95.82 rating. This indicates the stock's ability to outperform the broader market and reflects its competitive position. MAKEMYTRIP LTD shows promising potential for continued price momentum.

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

Disclaimer

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.