Is It Time To Buy Cuentas Stock?

It has been a rough few weeks for shareholders of Cuentas Inc. CUEN as the stock has lost more than half of its value.

But there is a chance the sell-off pauses, at least temporarily. There may even be some type of rebound because the stock has reached a level that may be support.

The $4.10 level was resistance in February and March. Investors who sold at that level were happy after the shares moved lower. They think they made a good decision.

But after CUEN traded higher, many of these investors regret their decisions to sell. A number of them decide to buy their shares back, but they will only do so if they can get them for the same price they sold at.

As a result, they place their buy orders at their sell price. If there are enough of these orders at the $4.10 level, it could be sufficient to absorb all of the supply. This could keep the price from falling lower.