Coupang, Inc.Long
$CPNG FINALLY BREAKS-OUT of the Downtrending Channel
CPNGAll of the positive indicators are combining for this underestimated stock:
1. The stock price candle of Feb 28 breaks out of the downtrending channel by more than 3% for the first time since Jul 2021.
2. Moving average of 7 days is just about to cross above the MA of 20 days
3. Volume increase as the price increases “MOMENTUM”
4. Clear Cup and Handle chart pattern is formed indicating a technical price target of $30
5. MACD cross up to the positive side above zero line.
** Technical Analysis CPNG next price target is 30.05 in the short period of time**
Hopefully the actual Q4 earnings meets or even beats its consensus earnings estimate, which could positively impact the price of the stock in the short term.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.