Chart of the Day: Will MakeMyTrip Make My Day?

The Chart of the Day belongs to the on-line travel company MakeMyTrip (MMYT)   .  I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart  feature to review the charts for consistent price appreciation.  Since the Trend Seeker signaled a buy on 7/11 the stock gained 36.10%.

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing. Its services and products include air tickets; hotels and packages; rail tickets; bus tickets; and car hire, as well as ancillary travel requirements, such as visa processing and facilitating access to travel insurance. The company allows travelers to research, plan, book, and purchase travel services and products through its websites, such as makemytrip.com, goibibo.com, redbus.in, makemytrip.com.sg, and makemytrip.ae; and other technology-enhanced distribution channels, such as call centers, travel stores, and travel agents network, as well as mobile service platform. The company serves leisure and corporate travelers. MakeMyTrip Limited was incorporated in 2000 and is based 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
• 35.33+ Weighted Alpha
• 18.65% gain in the last year
• Trend Seeker buy signal
• Above its 20, 50 and 100 day moving averages
• 11 new highs and up 32.21% in the last month
• Relative Strength Index 79.53%
• Technical support level at $36.53
• Recently traded at $38.06 with 50 day moving average of $30.52

Fundamental Factors:

• Market Cap 3.92 billion
• P/E 118.62
• Revenue expected to grow by 35.80% this year and another 23.40% next year
• Earnings estimated to increase 1,050.00% this year, an additional 51.30% next year and continue to compound at an annual rate of 1.00% 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 analyst gave 6 strong buy and 3 buy opinions on the stock
• Analysts have a price target of $36 to $50 with a consensus of $41
• The individual investors following the stock on Motley Fool voted 56 to 27 for the stock to beat the market with the more experienced investors voting 9 to 7 for the same result
• Value Line gives the stock its average rating of 3
• CFRA's MarketScope rates it a hold
• 4,260 investors monitor the stock on Seeking Alpha

Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in  the next 72 hours.

Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.