FORCE PROTN VIDEO (OTCMKTS:FPVD) witnessed a sudden spike in its share prices during the previous trading session. Such an unexplained rise in its stock prices can be linked with the mounting efforts of the various police departments to include the use of body cameras while on duty.
Also, a year-long study by the University of South Florida, favouring the use of body cameras by police officers has further fuelled the growth perception of Force Proton Video, which manufactures and sell mini body video cameras. The study established that the use of body cameras helped police officers to de-escalate tense situations. While many police departments have already embraced the body cameras, there are many that are still reviewing their decision to adopt the technology.
The study and the consideration to adopt body cameras should favor FORCE PROTN VIDEO (OTCMKTS:FPVD). The company had recently announced that its LE10 camera stood out in the evaluation and trial test conducted by the Northern California Police Department. The department found the company’s camera to be superior in terms of size, pricing and video quality when compared with other manufacturers.
Edge over others
In addition, FORCE PROTN VIDEO (OTCMKTS:FPVD) also announced that it had bagged multiple orders from the District Attorneys’ Offices in Louisiana and Police Departments in Tennessee. The company’s LE10 is a body worn camera, which is half the price and size of other competitive cameras in the market. The company’s LE10 features audio recording, 8MP, still picture, WIFI and 4 times zoom capabilities. Also, it does not require storage or software to be operated. Thus, the camera seems to have an edge over other available cameras in the market for the purpose of law enforcement agencies.
Last year, President Obama had announced a $260 million program for the use of body cameras. Such a proposal came on the backdrop of incidents where police officers were charged with racial bias and excessive force.
FORCE PROTN VIDEO (OTCMKTS:FPVD) has recently found some interest from the long term investors as evident from the volume pattern. The volume has been rising for the last few days and the volume of the last session surged to 301,000 against the lowly daily average of 93,000 only. The stock ended the last session of the week with a price appreciation of 4.55%. Compared to the major crash seen early in the month, all the gains made so far don’t make a very convincing structural improvement but the real test will come in the proximity of the major resistance just above $2.00 levels.