Plurilock Security (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.
Machine Learning that reduces or eliminates the need for passwords by measuring the pace, rhythm and cadence of a user’s keystrokes to confirm their identity. No more having to remember your first pet’s name for a password!
Plurilock’s machine learning technology knows when credentials and sessions are compromised—by understanding the imperceptible patterns that mark the intended user’s keyboard, pointer, daily commute, and other movements.
Today, Plurilock announced that it has received a purchase order for the company’s flagship software program from a US financial institution. The financial institution has been operating for over 60 years and has regional offices in multiple US States.
This cross-sale order was secured through the existing client network of its wholly-owned subsidiary, Aurora Systems Consulting, Inc. According to the terms of the order, the Customer will license the continuous identity confirmation functionality of the Plurilock platform.
“We are pleased to expand our sales pipeline for our high-margin software solution with this order,” said Ian L. Paterson, CEO of Plurilock. “Our flagship cybersecurity platform provides advanced identity authentication, which bodes well for organizations in the financial services sector, where there has been a significant increase in cyberattacks. Moving forward, we intend to provide our zero-trust technology offering to companies across key industry verticals that require strong cyber defenses to protect their employees in order to prevent valuable data leakages.”
Plurilock is kicking the year off strong as this news comes a few days after the Company announced a purchase order for its flagship cybersecurity platform from a US Credit Union.
Just recently, I wrote an article about Plurilock detailing the opportunity present in cybersecurity stocks. I have found interesting bottoming technical patterns in many charts. Plurilock included.
The bottoming pattern on Plurilock Security is still in play.
The stock recently made all time record lows hitting $0.12. Since then, the stock has just ranged. The major support zone at $0.14 was taken out which led to the printing of all time record lows. In a way, the stock not sliding down further on the breakdown is a good sign that buyers are in the area.
What was once support, now becomes resistance. Plurilock did close above $0.14 on January 16th 2023. A very nice pop, but the momentum was stalled due to a private placement. More funds to initiate a catalyst isn’t a bad thing.
Now once again, Plurilock will need to regain the $0.14 level for further upside momentum. Interestingly enough, a move higher could trigger a reversal pattern. I have drawn a line at $0.165. If Plurilock can close above this level, we would trigger a double bottom pattern. Which just looks like a “W”.
If I am correct in my technical analysis, then from now to my FIRST price target at the $0.25-$0.26 zone is a gain of 82%.
