Could MakeMyTrip Limited (MMYT) See a Reversal After Having Formed Several Months Bearish H&S Chart Pattern

September 17, 2017 - By reb123z

The stock of MakeMyTrip Limited (MMYT) formed H&S with $31.23 target or 8.00 % below today’s $33.95 share price. The 7 months Head & Shoulders indicates high risk for the $3.11B company. It was reported on Sep, 17 by Faxor.com. If the $31.23 price target is reached, the company will be worth $248.80M less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The stock decreased 0.15% or $0.05 on September 15, reaching $33.95. About 351,708 shares traded. MakeMyTrip Limited (NASDAQ:MMYT) has risen 111.67% since September 17, 2016 and is uptrending. It has outperformed by 94.97% the S&P500.

Investors wait MakeMyTrip Limited (NASDAQ:MMYT) to report on October, 25. its quarterly earnings Wall Street analysts expect $-0.72 earnings per share, up $0.23 or 24.21 % from last year’s $-0.95 same quarter earnings. MakeMyTrip Limited’s Wall Street analysts see 18.03 % negative EPS growth, taking into account the $-0.61 EPS reproted in the previous quarter,

MakeMyTrip Limited (NASDAQ:MMYT) Ratings Coverage

Among 4 analysts covering MakeMyTrip (NASDAQ:MMYT), 0 have Buy rating, 0 Sell and 4 Hold. Therefore 0 are positive. MakeMyTrip had 8 analyst reports since August 12, 2015 according to SRatingsIntel. The firm has “Hold” rating by Deutsche Bank given on Friday, October 30. As per Thursday, August 10, the company rating was downgraded by Jefferies. The stock of MakeMyTrip Limited (NASDAQ:MMYT) has “Reduce” rating given on Tuesday, February 23 by Nomura. Nomura upgraded the shares of MMYT in report on Friday, June 3 to “Neutral” rating.

More recent MakeMyTrip Limited (NASDAQ:MMYT) news were published by: Globenewswire.com which released: “MakeMyTrip Limited Announces Details of Annual Meeting of Shareholders” on September 13, 2017. Also Globenewswire.com published the news titled: “MakeMyTrip Limited to Report Fiscal 2018 First Quarter Financial & Operating …” on July 28, 2017. Globenewswire.com‘s news article titled: “MakeMyTrip Limited to Report Fiscal 2018 Second Quarter Financial & Operating …” with publication date: September 13, 2017 was also an interesting one.

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