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Coupa Software: Pullback to Old High and 50-day SMA
$NASDAQ:COUP has had a monster run since early last year. Now it could be giving a potential entry.
COUP rallied about 150 percent between January 2019 and last October. It then had a big chopping period like two megaphones. It first got wider and then narrower, followed by a breakout in January.
Now COUP has come back to hold the old high around $160 and its 50-day simple moving average. This highlights a potential opportunity -- with a support zone and moving average in play. (You can thank
Tesla for the pullback yesterday because it weighed on the Nasdaq.)
COUP is also a member of the fast-growing enterprise software space. It focuses on procurement systems. Enterprise software has become one of the biggest industries in the current bull market for growth stocks.
The next earnings report is due in a little more than a month.
COUP rallied about 150 percent between January 2019 and last October. It then had a big chopping period like two megaphones. It first got wider and then narrower, followed by a breakout in January.
Now COUP has come back to hold the old high around $160 and its 50-day simple moving average. This highlights a potential opportunity -- with a support zone and moving average in play. (You can thank
Tesla for the pullback yesterday because it weighed on the Nasdaq.)COUP is also a member of the fast-growing enterprise software space. It focuses on procurement systems. Enterprise software has become one of the biggest industries in the current bull market for growth stocks.
The next earnings report is due in a little more than a month.
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