MakeMyTrip Technical Analysis (NASDAQ:MMYT)
Technical analysis is based on the study of past price and volume movements of a security with the help of technical stock charts or trading charts. The MakeMyTrip stock price data and volume are plotted in MMYT stock charts and these trading charts form the basis of technical analysis.
See MakeMyTrip bollinger bands, SMA - 200 day moving average, 50 day moving average and exponential moving averages. Technical analysis uses an approach for MakeMyTrip stock analysis that does not care for the fair value of a company but uses price and volume data only.
MakeMyTrip Moving Average
Moving averages show the average price of MMYT stock over a set time period and help traders see the overall trend by smoothening out the daily variation in price movement. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $35.53 is below the price of $37.05.
MakeMyTrip Bollinger Bands
Bollinger bands comprise of a center line usually MMYT SMA, and two MMYT stock price bands above and below it. The stock is considered overbought when the price starts moving closer towards the upper band, and is considered oversold as stock price moves closer towards the lower band. The stock price is trading between the average and the upper band in the context of MakeMyTrip bollinger bands.
MakeMyTrip Moving Average Convergence Divergence or MACD
The moving average convergence divergence or MACD is a technical indicator which helps gauge the stock price trend, as the indicator is useful in understanding the strength, direction and momentum of the stock price. The MakeMyTrip MACD indicator is above 0 indicating a bullish trend.
MakeMyTrip Relative Strength Index
This technical indicator compares the relative strength or weakness of a stock. It measures the magnitude of rise or fall in stock price movements . If the RSI of MMYT stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.