South Korea's e-commerce titan, Coupang ( NYSE:CPNG ), soared to new heights today following news of a membership fee increase. With a staggering 12% surge in recent trading, Coupang's ( NYSE:CPNG ) stock rocketed to $21.38, marking an impressive leap from its previous levels. This bullish momentum underscores the company's robust start to the year, with a nearly...
Analyzing the options chain and the chart patterns of CPNG Coupang prior to the earnings report this week,
I would consider purchasing the 16.40usd strike price Puts with
an expiration date of 2023-11-17,
for a premium of approximately $0.65.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward...
$CPNG
have been stalking this for several weeks. bottomed and RS since May. remains in consolidated range for over past 3 months yet recapturing all over its key moving averages. leadership price action over its industry peers $BABA, $AMZN, $SE
a decent setup on the weekly
Since the stock is at a good support that was created just before their earnings, the stock might go up to 19.6 and then fall back(primarily due to global data).
Considering the company is expanding Financing, OTT, fresh, owning the supplychain, logistics. They have a good potential to grow.
Disclosure: I own this stock in my investment portfolio, it looks...
