On Tuesday, Coupang stock hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 82, up from 61 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating tracks market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
Over 100 years of market history shows that the best stocks typically have an 80 or better RS Rating as they launch their biggest price moves.
See How IBD Helps You Make More Money In Stocks
Is Coupang Stock A Buy?
Coupang stock has been trading in a long and narrow consolidation. While the e-commerce stock is not near an ideal buy zone right now, see if it manages to form and break out of a proper base.
The Korean-based e-commerce company reported 0% earnings growth last quarter. Sales gains came in at 13%.
Coupang stock earns the No. 6 rank among its peers in the Retail-Internet industry group. Vipshop Holdings ADR and PDD Holdings ADR are also among the group's highest-rated stocks. For more industry news, check out "Retail Industry News And Stocks To Watch."
