PositiveID Corp. PSID
We’ve got a lengthy history with this morning’s topic of discussion, PSID, which dates all the way back to 2013. Early this year, we tracked this play over an impressive range from .0572 to .125 over a short time period in late February to early March. That move gave us the chance to bag gains close to 120%
Recently, the chart has shown some rapid swings in the .03-.085 range, and after coming down to find support at .034 last week the stock is beginning to look like it’s in a good position to bounce again, but before we break down the PSID chart let’s recap what the company does.
For those who might not remember, PSID has hung its hat on a couple of key products:
M-BAND – PSID’s M-BAND Detector, in a nutshell, is a bio-aerosol device that uses cell lysis and nucleic acid purification to provide continuous analysis of air quality. The M-BAND screens for bacteria, viruses, and other bio-toxins.This pathogen detector has already been tested in the field. The company recently shipped several units to Maryland for continued testing to protect U.S. warfighters as part of The Joint United States Forces Korea Portal and Integrated Threat Recognition (JUPITR) program >>> Read PR
Firefly Dx – This is PSID’s point-of-care diagnostic tool still under development. It’s a portable handheld device capable of sample lysis, purification, PCR analysis in the field. The ultimate goal is to provide point-of-care diagnostics in 20 minutes or less with a device that could essentially fit in your pocket. Due to the nature of PSID‘s products, it’s not a surprise that the recent Ebola scare drove this stock to spike violently last month. In the time since then, we’ve learned that the company is working with U.S. Special Operations Command in hopes of continuing the development of the Firefly Dx system and bringing it into the realm of real-world use. >>> Read PR
TODAY’S NEWS:
This morning the company released both Quarterly and 9-Month financials, the highlights of which included reported revenue of $325,000 for the quarter ended 09/30/14, and $745,000 for the 9 months ended 09/30/14. PSID also increased its 2014/2015 revenue and backlog estimate to $3.6 million, and reiterated its revenue guidance of $4-10 million through the end of 2015 (2014 and 2015 combined) >> Read PR
CHART:
As we said earlier regarding the PSID chart, we can see a lot of potential in its current positioning. It’s coming off of support, with the RSI approaching the 50-line and a MACD that appears to be ready to undergo a bullish cross. We want to have PSID at the top of our watchlists as it has shown us its ability to make rapid gains on multiple occasions. Go ahead and check out the video presentation we prepared on the PSID chart below:
More Info @ PositiveIDcorp.com