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, Plurilock announced it has signed a contract renewal for its flagship cybersecurity software platform with an overseas automotive technology and sourcing solutions provider.
The Customer provides various solutions within the global automotive industry such as product design and engineering, sourcing, e-commerce platforms, and more. The customer has renewed its subscription for the cloud security functionality of the Plurilock platform, which includes Single Sign-On Authentication, Password Policy and Self-Password Reset.
“We are pleased to renew a contract for our flagship cybersecurity solution with an overseas customer within the global automotive industry,” said Ian L. Paterson, CEO of Plurilock. “This contract renewal highlights the reliability and robustness of our zero-trust technology as well as our ongoing commitment to maintaining strong business relationships with existing customers, which led to them to continue utilizing our high-margin software.”
The stock is seeing a bid right at our major support zone.
Plurilock confirmed a breakout earlier this year on February 9th 2023 with a very strong green candle breakout. This breakout triggered a double bottom pattern and thus, the beginnings of a new uptrend.
Note the blue arrows I have drawn to the right on the chart. These lines have been in all my Plurilock articles as it basically outlines the trajectory I expect to see. The key to this uptrend remains the stock holding above the $0.15 zone.
Plurilock remains above this support, thus the uptrend remains intact and a second higher low wave is still expected, taking us above recent highs at $0.225.
Currently, the stock is being held within another wedge with a trendline acting as near term resistance. I have kept up the original trendline which broke back in February 2023 to showcase the type of price movement we may see with another break here in upcoming days. We get a strong close above this trend line, and the stock is very likely to pop with momentum from technical traders.
