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 that its wholly owned subsidiary, Integra Networks Corporation (Integra), has been approved for an increase to its existing CAD $1.5 million revolving line of credit from Pathward, National Association, a division of MetaBank for up to CAD $2 million.
“We are pleased to continue working alongside Pathward, National Association, by securing additional working capital to grow our organization,” said Ian L. Paterson, CEO of Plurilock. “We are seeing increased demand for cybersecurity products at Plurilock and the additional flexibility will assist us in accelerating our sales.”
The loan will be used by Integra for working capital purposes. The loan is secured against all current and future assets of Plurilock and Integra.
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, there was a close below our support zone, but it was not a strong enough candle indicating the sellers took control. We see this by the candle body, and the large wick indicating buying pressure.
Plurilock is back above our support zone, and is just awaiting some volume to solidify a foundation here.
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. 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.
