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.
Today, the company announced that its wholly owned subsidiary, Aurora Systems Consulting Inc (Aurora) has received seven new California Multiple Award Schedule (CMAS) contracts. These contracts validate Plurilock’s Aurora Systems as a trusted supplier and enables the Company to provide competitive offers for its solutions to additional state and local government agencies in California through CMAS. The news is also in the process of triggering a breakout pattern which we have been calling.
CMAS is a streamlined procurement process that is administered by the state of California and offers a network of contractors and suppliers, which local agencies can select competitively priced products and services from. Aurora Systems became a CMAS certified contractor in 2002 and provides solutions to state and local government customers in the state of California.
“We are pleased to announce that our Aurora subsidiary has received seven new CMAS contracts,” said Ian L. Paterson, CEO of Plurilock. “Aurora’s operations have enabled our Solutions Division to establish an extensive customer network of U.S. federal, California state and local organizations in the United States, which we intend to leverage in order to secure more cross-sale orders for our high-margin software offerings. Overall, these contracts could potentially add new customers to our pipeline, which bodes well for our sales strategy.”
This news continues a busy February for Plurilock. On February 2nd 2023, the Company announced it received an order for its flagship cybersecurity platform from a US Credit Union. Followed by news on February 7th 2023 that the Company received a purchase order for the Company’s flagship software program from a US financial institution.
The cybersecurity sector looks like it has bottomed from a technical analysis standpoint. For more information on cybersecurity as an investment and more on Plurilock, be sure to check out my recent rundown on both of these topics here.
Plurilock stock is up over 12% on today’s news at time of writing. The more exciting part is the chart may trigger the reversal pattern I have outlined to readers and investors.
A close above $0.165 on the daily timeframe would trigger the breakout and the reversal pattern. The company is doing this as it announces plenty of news and catalysts for the stock. This means the technicals are backed by fundamentals. A winning combo.
A breakout trigger means that the $0.165 zone becomes new support, and as long as Plurilock remains above this, it will continue the trajectory I have laid out to the $0.25-$0.26 first initial target zone.
