• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing

Bulls Just Aren't Sold on Coupang's Charts

The so-called 'Amazon of South Korea' has little history but what is does have looks a bit bearish.
By BRUCE KAMICH
Aug 03, 2021 | 11:47 AM EDT
Stocks quotes in this article: CPNG

During Monday's "Mad Money" program, a called asked host Jim Cramer during the Lightning Round segment about Coupang (CPNG) .

"I like the company, but it is speculative," said Cramer about the South Korean e-commerce firm. Let's check out a couple charts.

In this daily Japanese candlestick chart of CPNG, below, we can see that prices have weakened since going public in March. CPNG is trading below the declining 20-day and 50-day moving averages. Trading volume has been light, but the trend of the On-Balance-Volume (OBV) line has been down. This tells us that sellers of CPNG have been more aggressive.
 
The 12-day price momentum study does not show us a bullish divergence at this time.
 
 
In this daily Point and Figure chart of CPNG, below, we can see a potential downside price target in the $32 area.
 
 
Bottom line strategy: We do not have a lot of price history to work with on CPNG, but what we have so far is bearish. Avoid the long side of CPNG for now.
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Investing | Technical Analysis | E-Commerce | Mad Money

More from Investing

Getting in the Right Position Is What Matters Most Right Now

Carley Garner
Aug 15, 2022 4:53 PM EDT

Let's look at whether we're seeing a bear market bounce and if money is still chasing too few assets, as well as what could trigger the 'Mother of All Squeezes.'

Too High to Buy, Too Strong to Short

James "Rev Shark" DePorre
Aug 15, 2022 4:28 PM EDT

Here's why the market continues to frustrate investors.

This 'Meme' Stock Is Back for Trading

Mark Sebastian
Aug 15, 2022 2:13 PM EDT

Here's how to play Palantir after it released earnings.

A Collision Is About to Occur

Bob Lang
Aug 15, 2022 12:45 PM EDT

When will this bear market end?

The Aggressive Chasing Has Cooled Off

James "Rev Shark" DePorre
Aug 15, 2022 11:58 AM EDT

Is this a healthy pause that will set up the next leg higher or a stalling action that will produce a rollover?

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 10:24 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    To Improve Your Trading and Investing, Spend More ...
  • 08:44 AM EDT PETER TCHIR

    CPI Beats Expectations, But Maybe Not the 'Whisper'?

    Slightly better-than-expected inflation across the...
  • 01:44 PM EDT STEPHEN GUILFOYLE

    This Holding Lights Up With Strong Earnings

    Check out the latest from TheStreet's Stocks Under...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2022 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login