Positive ID Corp. PSID
This morning we are talking about PSID, a stock which recently made a significant spike, and one that we are monitoring closely as it searches for a bottom. Before taking a look at the chart we’d like to briefly go over the various aspects of PSID‘s business, which we think you’ll find interesting.
Molecular Diagnostics:
Via its wholly-owned subsidiary acquired in 2011, MicroFluidic Systems (MFS), PSID develops sophisticated bio-threat detection systems for the purposes of rapid testing designed to detect a range of biological anomalies. Some of these medical diagnostic devices are reminiscent of something out of science fiction as you’ll see below, made possible through advanced molecular biotech.
The company’s M-BAND (Microfluidic Bio-agent Autonomous Networked Detector) threat detection system was developed under contract for the United States’ Department of Homeland Security, specifically to detect airborne pathogens (biological weapons), but the theoretical range of applications for this patented tech extends even further.
Its DragonFly system is a series of ‘microfluidic’ cartridges which can detect HPV, environmental bacteria, including antibiotic-resistant types such as MRSA. The DragonFly cartridges are low-cost, disposable, portable, and virtually fool-proof in their function. They facilitate testing with no worries over human error.
For point-of-care diagnosis, the FireFly Dx system is a portable handheld device capable of cell lysis, purification, PCR analysis, and the identification for nucleic acids, allowing for efficient field testing. PSID expects it to be of special significance for the third-world, where identification of potentially destructive pathogens is top priority for first-response teams, and an area which has been lacking in the past.
Diabetes Management:
Also under development, PSID has Easy Check, a glucose-level “breathalyzer”-type system that detects acetone levels in a diabetes patient’s breath, as an alternative to traditional pin-prick methods. Implementing single-use reagent capsules causing a chemical reaction allows detection of acetone which can be correlated to derive a glucose reading. The company reports preliminary testing at its Israeli research facility to have been successful, so we would be very excited for a future update on the progress of this aspect of PSID‘s business.
In the event that a workable and accurate device could be ultimately developed, it could chance the face of glucose testing for diabetics everywhere, a pool which includes a roughly-estimated 80 million adults in the US alone.
The company is reportedly working on yet another alternative to classic diabetes testing methods with an implantable RFID bio-sensor called the Glucochip.
PSID Chart:
As far as the PSID chart is concerned, if you take a look back to this past November, the stock ran from the low .02’s to almost .07 and spent the rest 2013 generally consolidating. At the end of last month the stock picked up once again, and last week ran to nearly .14, breaking that previous resistance point at .07. We’re now coming to PSID in the midst of another consolidation, with it posting three consecutive red candles to finish out last week.
We’ll want to keep a careful eye as this play searches out a bottom, because the opportunity for a significant bounce is present. We’ll need to see PSID hold support at or above .045 just below a recent gap on the chart. Once a rebound occurs, we will be on the lookout for a break of resistance at .07, which would certainly lead to a large percentage increase. Another run to its previous swing high from current levels would produce double-bag gains, so we’re placing PSID on intensive bottom-watch.
LINKS TO RECENT PRESS:
- PositiveID Corporation to Present at the National Investment Banking Association Conference on February 27-28, 2014 (Feb 13)
- PositiveID Corporation Adds U.S. Homeland Security and Counter-Terrorism Expert Thomas DiNanno to Its Advisory Board (Feb 4)
- PositiveID Featured in Government Security News and Homeland Security Today (Jan 28)
- PositiveID Publishes Report on Its BioThreat Detection and Diagnostics Solutions (Jan 23)
More Info @ PSID Website: http://www.positiveidcorp.com/
