Chart of the Day: MakeMyTrip To Asia

 The Chart of the Day belongs to the Asian travel services 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 11/ 10 the stock gained 54.95%.

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
• 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 it's highest average rating of 1
• CFRAs MarketScope has a hold rating
• 4,800 investors monitor the stock on Seeking Alpha

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.