Coupang Stock Jumps 6.80% In Two Days As Technicals Flash Bullish Signals

Coupang shares rose 3.32% to $30.80 in the most recent session, marking a second consecutive gain that brought the two-day advance to 6.80%. This upward momentum will be examined against broader technical indicators in the following comprehensive analysis.
Candlestick Theory
Recent price action shows two robust green candles ($29.81 to $30.80) with minimal upper wicks, indicating sustained buying pressure near current levels. Key support now consolidates around the $28.80-$29.00 consolidation zone that contained pullbacks throughout June, while resistance emerges at the psychological $31.00 barrier, which aligns with the year-to-date peak. A bearish shooting star pattern on May 29 (high: $28.48 → close: $27.89) established initial resistance that was decisively overcome in June's rally, reinforcing the current constructive structure.
Moving Average Theory
The 50-day SMA ($27.80) maintains an upward slope above the ascending 100-day ($26.10) and 200-day ($23.60) averages, confirming the primary bullish trend. Current price trades comfortably above all three key moving averages – a configuration not observed since February. The 50-day recently crossed above the 100-day (late May), triggering a bullish "Golden Cross" that typically precedes extended uptrends. This stacked alignment suggests strong underlying support near $27.50.
MACD & KDJ Indicators
MACD (12,26,9) shows the histogram at +1.15 with both MACD and signal lines trending upward – a configuration unseen since early March. This reflects accelerating bullish momentum without immediate divergence concerns. KDJ readings (K:84, D:79, J:94) simultaneously signal overbought territory, though such conditions can persist during strong trends. The K-line's failure to dip below 50 during June's shallow pullbacks demonstrates remarkable resilience.
Bollinger Bands
Price consistently hugs the upper Bollinger Band ($30.75 ± 2.2%) following June's 14% volatility contraction ("squeeze") that resolved bullishly. Band expansion remains moderate at 6.5% width compared to February's 11% extremes, leaving room for continued trending. Historically, sustained closes above the upper band (current position) preceded major advances in August 2024 and January 2025.
Volume-Price Relationship
Recent gains are validated by 21% above-average volume on the initial breakout day (June 26: 26.3M shares vs 20-day avg 15.4M). While follow-through volume moderated (June 27: 23.2M), it remains elevated relative to the preceding consolidation phase. The volume profile shows accumulation clustering between $28.50-$29.00 – critical support in any retracement.
Relative Strength Index (RSI)
The 14-day RSI (75.2) has entered overbought territory (>70) for the first time since November 2024. While this warrants monitoring for exhaustion signals, it importantly coincides with a confirmed bull market structure. Previous overbought readings in August 2024 and January 2025 resolved through sideways consolidation rather than sharp declines. The current ascent from mid-June's neutral RSI (45.6) to current levels demonstrates strengthening momentum.
Fibonacci Retracement
Measuring the May swing low ($24.91) to current highs ($30.91), key Fibonacci levels provide tactical references: the 23.6% retracement at $29.55 aligns with last week's support, while the more significant 38.2% level at $28.84 corresponds to the 50-day SMA and high-volume consolidation zone. The $30.91 high establishes a clear extension target at 161.8% ($33.25). Previous respect for the 61.8% level during February's rally lends credibility to this framework.
Confluence & Divergence Assessment
Notable confluence appears between:
1) The psychological $31.00 resistance and Fibonacci extension targets
2) Bollinger Band upper boundaries and RSI overbought signals
3) Volume-supported support at $28.80-$29.00 and the Fibonacci 38.2% retracement
The lone material divergence lies in KDJ's extreme overbought reading against MACD's more moderate momentum signal. This suggests potential near-term consolidation but lacks corroboration from other indicators currently. The weight of evidence favors a constructive outlook, with pullbacks to the $29.00-$29.50 support zone presenting higher-probability entry opportunities than chasing current extended levels.