Why Digital Ally Inc [DGLY] Could Double in Price Short-term – Invest Chronicle

Why Digital Ally Inc [DGLY] Could Double in Price Short-term

Digital Ally Inc [NASDAQ:DGLY] has been gaining upside momentum for the last couple of days. At the moment, the price action points to the early days of a bull run. If bulls control the price and push it past the $4 resistance, then the stock could easily double its current price and test $6. Volumes are quite high too, an indicator that bulls are firmly in control of the trend. If the trend holds in the day, investors chasing gains could jump at the opportunity and further drive up the price in the short-term.

Besides the positive price action that could see the price rally, the company has the fundamental to grow in intrinsic value in the short-term. For starters, the company’s client orders are on a growth trajectory. Last week, it announced that it had landed a multi-year upgrade order from Suwanee Police Department for the upgrade its cameras. In specifics, the company will help the police department upgrade 34 body cameras and 18 DVM-800 car systems.

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These will be moved to the server-based storage that is highly secure and is powered by Amazon Web Services. Commenting on the deal, Digital Ally  CEO Stan Ross stated that the company was happy to continue being the top video solutions company for the Suwanee Police Department, and that it would continue giving them the tools necessary to collect evidence by video.

He added that this was a demonstration of the trend amongst its clients to make body camera upgrades evidence storage systems and in-car systems. 

Still in October, the company announced that it had entered into an agreement with Integrated Openings Solutions to give customer better features and other benefits that go beyond temperature screening. Under the new deal, the partnership will also include facial recognition, door and badge integrations, A.I. among many other services that enhance public security. Commenting on the deal, Digital All CEO Stan Ross stated that the COVID-19 pandemic has brought forth the need to come up with strategic tools such as the company’s ThermoVu™ for screening temperatures.

He added that through this partnership, the company will be in a position to use multiple tech features in its product models and give clients better quality services. ThermoVu™ is a temp measuring instrument that operates without contact, and is very useful in the fight against the pandemic. 

About Digital Ally Inc 

Digital Ally Inc deals in digital video and storage tools that are useful in law enforcement.  It is based in Lenexa, Kansas. 

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