Long Position on MMYT @ $68.50 on 3/22/2024 (Momentum)

MakeMyTrip Limited (MMYT), 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.

Share prices have soared 157% return in just a single year. On top of that, the share price is up 36% in about a quarter and with this upward momentum share prices should head higher. 

Entry Point: $68.50

Trading Range: $22.50 - $68.59

Stop Loss: $65.25

Target Price: $75.35

Position closed on 4/19/2024 at price of $65.25 with a -4.74% loss in 28 days.

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