The Trailblazer of the Day navigates through the bustling streets of the Asian market with its vibrant flag soaring high – none other than MakeMyTrip (MMYT). I discovered this gem by tapping into Barchart’s treasure trove of screening functions, uncovering stocks gleaming with technical buy signals, boasting the highest Weighted Alpha, riding the wave of superior current momentum, and flashing a Trend Seeker buy signal. Since the Trend Seeker beckoned a buy on 11/10, MakeMyTrip has soared by a staggering 54.95%.
MakeMyTrip Limited, the virtual travel-trekker, peddles its wares across the landscape of India, the United States, and various Asian destinations. This spirited company dances between three pillars: Air Ticketing, Hotels and Packages, and Bus Ticketing. Its expansive offerings include a symphony of air tickets, accommodation bundles, rail transport delights, bus passes, and car hire services, all spiced with tidbits like visa processing and a sprinkle of travel insurance. Armed with a virtual compass, MakeMyTrip empowers travelers to scout, strategize, book, and acquire a plethora of travel services through its online domains – from makemytrip.com to goibibo.com, and from redbus.in to makemytrip.ae. Additionally, it weaves a web of connectivity through call centers, travel bric-a-brac, and a network of travel agents, all tied together seamlessly through its mobile service platform. MakeMyTrip caters to both leisurely jet-setters and corporate travelers, etching its mark on the travel map since its inception in 2000, headquartered in Gurugram, India.
Barchart’s Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 170.60+ Weighted Alpha
- 154.46% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50, and 100-day moving averages
- 6 new highs and up 10.76% in the last month
- Relative Strength Index 69.23%
- Technical support level at $62.00
- Recently traded at $64.93 with 50-day moving average of $54.24
Fundamental Factors:
- Market Cap $6.58 billion
- P/E 72.38
- Analysts predict Revenue will grow 34.70% this year and another 22.80% next year
- Earnings are projected to increase 1,187.50% this year, an additional 51.70% next year and continue to compound at an annual rate of 1% for the next 5 years
Analysts and Investor Sentiment — I don’t buy stocks because everyone else is buying, but I do realize that if major firms and investors are dumping a stock, it’s hard to make money swimming against the tide:
- Wall Street analysts issued 5 strong buy, 3 buy, and 1 hold recommendation this month
- Their price targets are between $45 and $75
- The individual investors following the stock on Motley Fool voted 55 to 27 for the stock to beat the market, with the most experienced investors voting 8 to 9 for a slightly different result
- Value Line rates the stock its highest average rating of 1
- CFRAs MarketScope has a hold rating
- 4,800 investors monitor the stock on Seeking Alpha
Additional insight: The Barchart Chart of the Day illuminates stocks basking in exceptional current price appreciation. These are not handed out as buy recommendations, for they dance on the edge of volatility and speculation. If one of these catches your eye and you decide to add it to your investment portfolio, it’s highly recommended to tether it with a diversified safety net and a disciplined moving stop loss strategy that resonates with your personal investment risk tolerance. Regularly dust off your crystal ball and reassess your stop losses at least once a week.
