Solei Systems Inc (OTCMKTS:SOLI) is exploding higher at a time when most stocks are being battered amidst the uncertainty and disruption triggered by the Coronavirus pandemic. The industry leader in telemedicine has continued to register higher highs even as the broader stock market turned bearish. The stock is already up by more than 500% having turned bullish in the wake of the COVID-19 pandemic.
Solei Systems Price Analysis
Solei System has seen its sentiments and prospects in the market turn bullish on becoming a major player in the testing of coronavirus in the U.S. Through its subsidiary CareClix, the company is already offering screening and testing for coronavirus to patients from the comfort of their homes.
In addition, Solei Systems has seen its sentiments in the market edge higher on the signing of a strategic partnership with CoreChoice Network. The agreement is set to expand the market reach for the company’s telemedicine solution. Expansion into Latin America in pursuit of opportunities for growth is another development that continues to affirm the company’s long-term prospects.
After taking a huge hit in 2019, Solei Systems has risen from the dead and continued to power up the charts. The stock has already powered through key resistance levels as it continues to bottom out from one-year lows.
Price action activity indicates the stock could be headed to its 52-week high given the impact of the solid fundamentals driving the upward momentum. After powering through the $0.70 resistance level, the stock could be on its way to the $1 level, given the strength of the upward momentum.
The $0.60 is the immediate support level from where the stock looks set to continue powering high. A breach of the $0.60 support level could leave the stock exposed to further downside action.
About Solei Systems
Solei Systems bills itself as a health and wellness company engaged in the production and distribution of dietary supplement products. The company also casts itself as an industry leader in telemedicine. It operates through two subsidiaries CareClix Inc. and Clinical & Herbal Innovations.
COVID-19 Testing Opportunity
Solei Systems is exploding in the market on investors taking note of the huge opportunity at hand, as the company continues to provide screening and testing kits for the Coronavirus. The company has wholly owned subsidiary CareClix has inked a deal with major laboratories in the U.S to ship COVID-19 testing kits to customers patients. Patients would be able to provide a small sample of what is to be tested, and return the sample for diagnostic testing.
The industry leader already boasts of industry-leading telemedicine solutions that allow healthcare workers and first responders to respond better to the COVID-19 pandemic.
“Telemedicine was designed for this type of immediate patient care. Our physicians, who follow the CDC recommendations, will perform consultations, which include medical, travel history, along with signs and symptoms compatible with COVID-19. Telemedicine has grown tremendously. In unfortunate situations like COVID-19, telemedicine has great value,” states CareClix CEO, Dr. John Korangy.
Solei Systems’ telemedicine solution continues to elicit strong demand in the market, affirming the company’s long-term prospects. CoreChoice Network is the latest company to ink a deal to leverage the company’s telemedicine solutions for its client base in the U.S. According to CoreChoice CEO, Steven Gass, Solei Systems telemedicine solution will be an invaluable tool to service its union clients nationwide.
In addition, Solei Systems has confirmed it is expanding its operation into Chile. Through its subsidiary CareClix, the company has inked formal agreements with local companies to serve the public and private healthcare sectors in the country.
Chile presents a high growth environment for telemedicine for the Solei system as it leads other Latin America nations when it comes to mobile device ownership and internet speeds. The country also boasts of one of the most robust and well-developed healthcare systems with top regional clinics.
Solei Systems has powered from all-time lows on the back of solid and improving underlying fundamentals. The COVID-19 pandemic is one of the catalysts set to continue fuelling the stock’s rise. As the demand for screening and testing kits soars in the U.S, the company looks set to address the market need and generate significant returns in the process. OTCMKTS:SOLI looks set to continue climbing the ladder as a top coronavirus play.
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Disclosure: We have no position in OTCMKTS:SOLI and have not been compensated for this article.