Will Biotricity Inc (OTCMKTS:BTCY) continue climbing the ladder after bottoming from all-time lows or crumble as it did mid last year? That is the big question after a brutal sell-off from record highs above the $10 a share level. The stock has lost more than 70% in market value over the past year. However, the stock has emerged as a possible turnaround play from all-time lows.
Biotricity Price Analysis
Supporting chatter about a possible turnaround is the fact that the company has moved to strengthen its prospects by expanding into new markets. The company has since expanded its footprint into the Holter market with its flagship Bioflux product offering. The expansion drive continues to strengthen investors’ confidence in the stock given the revenue opportunity at stake.
The stock has since started to trade in an uptrend, at the back of high turnover in traded shares. A 60% spike from all-time lows underlines the strength of the upward momentum after the underperformance of last year.
After the recent spike higher, the stock needs to stabilize above the $1 a share level to avert a further slide in the market. Considering the long-term bear trend, below the $2 a share level, the stock remains bearish.
Biotricity needs to rally and stabilize above the $3 a share level to turn bullish and affirm the emerging uptrend. The $3 a share level is the immediate resistance level that bulls will have to break through to resume control from short sellers.
What Does Biotricity Do?
Biotricity casts itself as a medical diagnostics and consumer, healthcare technology company. The company specializes in providing biometric monitoring solutions across the United States. It also delivers remote monitoring solutions to various markets including medical healthcare among other consumer markets.
Biotricity has started turning bullish as investors react to a new marketing opportunity in response to the company’s Bioflux product offering. Bioflux is the company’s lead product designed to offer mobile cardiac telemetry.
Expansion into the Holter market has once again strengthened the company’s revenue growth opportunities. Until now, the company has focused on the MCT market as part of its commercialization efforts. Acknowledgment that the future of patient monitoring is on real-time and remote capacities has prompted the company to expand its marketing efforts into the Holter market.
“While MCT monitoring has always been the primary focus of our Bioflux solution, we are starting to realize that there is a significant demand for Halter services because many physicians value the traditional approach offered by short-term monitoring,” said Mr. Waqaas Al-Siddiq, Biotricity Founder and CEO.
The Chief Executive Officer remains optimistic about generating significant value with Bioflux while offering customers a comprehensive cardiac solution. Focusing on the Holter market should help the company target a much larger customer base to be able to generate significant revenues while meeting diverse needs for patients and prescribers.
In a bid to strengthen the product line, Biotricity has signed a strategic partnership with the University of Calgary. The two have consequently agreed to launch a joint a research and development program, focused on initiating investigations using Bioflux, to facilitate Heart Rate Variability monitoring
The proposed trials, build on the company’s inaugural alpha test in critically ill patients, which identified an optimal HRV metric. Biotricity intends to explore the impact Bioflux will have on remote monitoring using high-performance systems.
Successful trial results should open the door for Biotricity to pursue opportunities in two growing remote monitoring markets.
“We have come a long way from first testing Bioflux in the critically ill and ambulatory populations two years ago to these ground-breaking opportunities today, as Biotricity continues to support research that defends both its IP and our academic freedom,” said Dr. David Liepert, Biotricity Advisory Board member.
After a roller coaster 2018, Biotricity is more than ready for a turnaround backed by a game-changing monitoring solution for offering mobile cardiac telemetry. The company has already set sights on expanding its market reach by expanding its operations into the Holter market underlining its commitment to generating new revenue streams.
Renewed investor interest comes on investor betting big on the company’s transition into a revenue-generating entity. That said the stock looks set to continue bottoming out from current lows.
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Disclosure: We have no position in BTCY and have not been compensated for this article.