Cuentas Inc. Stock Forecast
Red day on Monday for Cuentas Inc.
(Updated on May 06, 2024)
The Cuentas Inc. stock price fell by -3.31% on the last day (Monday, 6th May 2024) from $0.242 to $0.234. During the last trading day the stock fluctuated 0% from a day low at $0.234 to a day high of $0.234. The price has been going up and down for this period, and there has been a 1.25% gain for the last 2 weeks. Volume has increased on the last day by 10 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 10 thousand shares were bought and sold for approximately $2.35 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -43.32% during the next 3 months and, with a 90% probability hold a price between $0.0825 and $0.162 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CUEN Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 1.25%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cuentas Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.237 and $0.283. A break-up above any of these levels will issue buy signals. Cuentas Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Cuentas Inc. stock
Cuentas Inc. finds support from accumulated volume at $0.232 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0.661%.
Our recommended stop-loss: $0.222 (-5.02%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (CUEN) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Cuentas Inc. to open at $0.234, and during the day (based on 14 day Average True Range), to move between $0.208 and $0.260, which gives a possible trading interval of +/-$0.0264 (+/-11.28%) up or down from last closing price. If Cuentas Inc. takes out the full calculated possible swing range there will be an estimated 22.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.232 (0.85%) than the resistance at $0.280 (19.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cuentas Inc. stock A Buy?
Cuentas Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Cuentas Inc. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $0.234 ( 0%) | $0.234 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CUEN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.234 | . | |
| R2 | 0.234 | . | ||
| R1 | 0.234 | . | ||
| Current price: | 0.234 | |||
| Support | S1 | 0.234 | . | |
| S2 | 0.234 | . | ||
| S3 | 0.234 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.285 | 21.79 % | |
| R2 | 0.281 | 20.09 % | ||
| R1 | 0.280 | 19.66 % | ||
| Current price | 0.234 | |||
| Support | S1 | 0.232 | -0.85% | |
| S2 | 0.231 | -1.24% | ||
| S3 | 0 | . |
FAQ
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