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.
Today, the Company announced it has signed a contract renewal for its flagship software platform with an overseas online real estate marketplace provider.
Through its online platform, the Customer facilitates transactions involving commercial and residential leases. According to the terms of the contract, the Customer has renewed its subscription for the cloud security functionality of the Plurilock platform, which includes Access Control Management.
“We are pleased to sign a contract renewal with an existing customer in the real estate industry,” said Ian L. Paterson, CEO of Plurilock. “This contract highlights the need for cybersecurity across various sectors where cyberattacks have become increasingly sophisticated. Overall, we aim to help different organizations protect their employees with our zero-trust technology solutions.”
This press release continues the trend of regular new and renewal contracts for Plurilock in 2023. The catalysts for the stock keep on coming.
The stock is up over 3% currently on the news.
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 $0.16. $0.25 is the next resistance zone to be tested, and a breakout above this zone just continues the new uptrend.
In recent days, Plurilock has been testing this major support zone and is holding above. The buyers are still stepping in.
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, 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 $0.16 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.
