Plurilock Security Inc (PLUR.V) is a Canadian identity-centric cybersecurity solutions company. The cybersecurity company provides multi-factor authentication (MFA) solutions using behavioral-biometric, environmental, and contextual technologies.
The company has been smashing it in 2023 with regular press releases of new contracts or contract renewals.
The positive press releases continue with Plurilock announcing today it has received a sale order for its flagship cybersecurity software platform with a US healthcare software solutions provider.
The Customer delivers behavioral health billing solutions to healthcare businesses, which enables them to increase revenues significantly. According to the terms of the order, the Customer will license the cloud security functionality of the Plurilock platform, which includes Access Control Management and Data Loss Prevention.
“As the healthcare industry becomes more integrated with cloud-based solutions, cyber criminals are capitalizing on new technology to find ‘loopholes’ in their software platforms,” said Ian L. Paterson, CEO of Plurilock. “We aim to not only provide our cybersecurity products to healthcare businesses but also, deliver our zero-trust technology offerings to their vendors who may be susceptible to attacks, which could disrupt both parties’ operations.”
Recent weeks has seen Plurilock announce:
A contract renewal with a Canadian auto dealership who has been in business for over 38 years.
A purchase order for the company’s flagship cybersecurity platform from a US Credit Union.
Seven new California Multiple Award Schedule contracts.
A three-contract renewal for its cybersecurity platform with Muthoot Finance Ltd.
And a contract renewal for its flagship cybersecurity software platform with an international IT solutions provider.
The stock continues to move the way I have highlighted for readers in previous Plurilock news articles. The breakout is still in play as long as we hold above $0.17. $0.25 is the next resistance zone to be tested, and a breakout above this zone just continues the new uptrend.
Rarely in a new trend do we see the trajectory go straight up right away. As you can see on the right of my candles, I have outlined the typical breakout trajectory with blue arrows. Currently, it appears as if Plurilock is in the ‘pullback and retest’ phase. But more emphasis on the pullback. Breakouts tend to see the price of the stock pullback to the breakout zone, in this case the $0.17 zone, before continuing the move higher. This provides bulls who missed the initial move to enter a position at support or price floor which acts as a demand zone.
I would watch for this pullback, but if buyers step in before this, then the bullish sign would be a confirmation of the first higher low. Higher lows (and higher highs!) are the skeleton of uptrends. A higher low is confirmed once the stock pulls back and then rises to take out previous highs. A candle close above $0.22 confirms this.