Drones and Police Bodycam Swing Idea
Riots this weekend may affect two stocks that relate to drones and police force technology.
- The killing of Breonna Taylor has induced outrage among the nation, calling for racial justice and police reform.
- Several altercations have broken out during protests, as a Kentucky Grand Jury has decided not to indict police officers on criminal charges related to her death.
- More protests to be expected over the weekend.
The top prosecutors around the country are calling for lawmakers to require body-worn cameras for police in the field. Department of Public Safety officers and authoritative figures alike are not all properly equipped with cameras. Earlier this year, Governor Doug Ducey of Arizona called for equipping every state trooper with a camera. However, lawmakers have decided to remain negligent on the idea as they hurried to pass a simpler budget amid the pandemic. Who knows if some crazy shit will change their mind, honestly. This could be a good play for the coming few weeks, I think it gets hits this coming week.
Digital Ally ($DGLY) develops, manufactures, and markets advanced technology products for law enforcement, emergency management, fleet safety, and security applications, and is currently trading at $2.23, down -3.88% from Thursday with lower volume. They have several partnerships with large businesses including Nascar, Metlife, and uh, for some reason, the Kansas City Chiefs.
Law Enforcement Products made 59% of their business in 2o19, which included: In-Car Video (80% of total law enforcement in 2019) • Body-Worn Cameras (20% of total law enforcement in 2019), and Customers that include city, state, county, and federal law enforcement agencies, military, international and domestic. Digital Ally recently announced the receipt of a notable order from Linn County, Iowa for their non-contact temperature screening devices on September 21. During the Ferguson riots, the stock had run to $25 in 2014.
On a tweet Thursday, Vislink Technologies ($VISL) mentions delivering video transmission to urban neighborhoods could be difficult, but of course not for them. With riots occurring this weekend, I think this could be a multi-week swing that ties into the same theme as $DGLY. It all depends on the riots because it will follow that. I traded $VISL in the .50's during the summer, it ran along with $UAVS during the company's drone rumor with Amazon. They blew up to $9 for a hot minute, before falling back to earth when people realized it was crap. It still is crap, don't get me wrong, but there's an opportunity for loot.
- falling wedgebullish pattern on the daily
- consolidating on the daily
- above average volume
- Riding under the ma(20)
- Watch ma(50) and ma(200) cross
- Looking to break resistance
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