Coupang Jumps 3.36% to $33.50 as Technicals Signal Bullish Breakout

Coupang (CPNG) gained 3.36% in the latest session, closing at $33.50 with a trading range of $32.43–$33.555 on elevated volume of 18.36 million shares, signaling strong bullish conviction. This price action forms a critical reference point for the following technical assessment.
Candlestick Theory
The recent price action shows a bullish reversal pattern emerging near the $32.00 support zone. The session ending September 8, 2025, formed a robust bullish engulfing candle (+8.96% on high volume), breaking through resistance at $30.00. Subsequent consolidation culminated in a decisive white candle on September 15, 2025, closing near its high ($33.50), suggesting upward momentum. Immediate resistance is observed at $33.55–$34.00, while $32.40 serves as short-term support. Failure to breach $34.00 could lead to retesting the $31.50–$32.00 congestion area.
Moving Average Theory
The 50-day moving average (MA) is ascending and positioned below the current price, reinforcing the bullish near-term bias. Significantly, the stock recently crossed above its 200-day MA during the September 8 breakout, confirming a long-term trend reversal. The 100-day MA acts as dynamic support around $30.50. A bullish convergence exists with shorter averages (50/100-day) above the 200-day MA, signaling sustained upward trajectory potential.
MACD & KDJ Indicators
MACD histogram shows positive momentum, with the MACD line above the signal line since early September. KDJ readings indicate the stock exited oversold territory (sub-30 K-line) in late August, with the K-line currently above 70—implying overbought conditions but also strong upward thrust. This confluence suggests near-term continuation of the trend, though divergence may emerge if KDJ sustains overbought levels without corresponding price highs.
Bollinger Bands
Bollinger Bands expanded sharply during the September 8 surge, reflecting heightened volatility and strong directional conviction. Price currently rides the upper band (~$33.50), typically signaling overbought territory. However, consecutive closes above the upper band would denote exceptional strength. The bands’ mid-line ($31.20) now serves as a pullback support. Contraction following this expansion phase could precede consolidation.
Volume-Price Relationship
Breakout moves were validated by substantial volume: September 8 recorded the year’s highest volume (46.9M shares), confirming institutional participation. The latest session’s volume (18.36M) exceeds the 20-day average, supporting the breakout’s legitimacy. Conversely, low-volume pullbacks (e.g., September 5 volume at 8.16M) indicated lack of bearish commitment. Sustained volume above average is required to maintain upward momentum.
Relative Strength Index (RSI)
The 14-day RSI currently reads ~67, approaching overbought territory (>70) but not yet indicating exhaustion. This follows a recovery from oversold conditions (<30) in late June 2025. While high RSI warns of potential consolidation, its mid-cycle positioning allows room for further upside. Divergence would manifest if RSI peaks while price continues rising, suggesting weakening momentum.
Fibonacci Retracement
Using the swing low of $19.02 (April 7, 2025) and the recent high of $33.55 (September 15, 2025), key Fibonacci levels emerge. The 23.6% retracement ($31.25) recently supported prices during minor pullbacks. More critical support lies at the 38.2% level ($29.50), aligning with the 100-day MA and the September 8 breakout point. Resistance is observed near the 127.2% extension level ($34.80), a plausible target if bullish momentum persists.
Confluence and Divergence Observations
Strong confluence exists at $31.50–$32.00 (Fibonacci 23.6%, prior resistance-turned-support, and volume shelf), reinforcing this as a major support zone. The moving average bullish alignment (50>100>200-day) corroborates the long-term uptrend. A notable divergence arose in late July when price made higher highs while RSI trended lower, foreshadowing the August correction. Currently, no significant divergence is evident, supporting trend continuity, though KDJ’s overbought reading warrants monitoring for potential near-term exhaustion signals.