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, has received a CAD $3.4 million purchase order from the Department of National Defence. The Department of National Defence provides support to the Canadian Armed Forces in its role of defending Canadians’ interests at home and abroad. According to the terms of the purchase order, Integra will deliver IT solutions to the Department of National Defence.
“We are pleased to receive a C$3.4 million purchase order from the Department of National Defence,” said Ian L. Paterson, CEO of Plurilock. “Government organizations require advanced cybersecurity solutions to protect themselves from increasingly sophisticated cyber-attacks. Overall, we aim to continue helping federal or state organizations in North America bolster their cyber defenses.”
Big news, and Plurilock has been regularly announcing deals and positive press releases consistently in 2023.
The stock is currently up over 9% today sitting at a price of $0.1750 with a market cap of $15.66 million. The market really liked this Defence Department news.
The stock has gapped up and is well above our support at $0.16. As long as we hold above this support level, the uptrend and my trajectory outlined with blue lines, remains intact. There was some worry with the close below $0.16 on Friday March 17th 2023, but it was not a strong red close, and the large wick indicated buying. That breakdown turned out to be a false breakout and just adds to the bullish momentum.
Today’s news could be the major catalyst to get us well above $0.16 and carry on with an eventual confirmation of a higher low by closing above $0.22. The $0.26 zone remains key resistance.
