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 cybersecurity software platform with an overseas healthcare provider.
The Customer offers healthcare services through its private chain of hospitals. According to the terms of the contract, the Customer has renewed its subscription for the cloud security functionality of the Plurilock platform, which includes Single Sign-On, Access Control Management, Password Policy and Self-Password Reset.
“We are pleased to renew a contract for our high-margin cybersecurity software with an overseas healthcare provider,” said Ian. L Paterson, CEO of Plurilock. “The healthcare industry remains a popular target for cybercriminals, and we aim to help companies within this sector protect their employees from data breaches.”
At time of writing, Plurilock stock is down -3.12% and sits at a market cap of just over $13.4 million.
The stock is still battling at our major support zone highlighted in blue.
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.
