Decision Diagnostics Corp (OTCMKTS:DECN) Explodes On COVID-19 Test Kit Opportunity

Decision Diagnostics Corp (OTCMKTS:DECN) is exploding higher after unveiling a new methodology for the screening of coronavirus. GenViroTM COVID-19 screening kit is the latest catalysts fuelling the stock’s price action activity in the market. Similarly, the stock has rallied by more than 300% as investors take note of the huge opportunity up for grabs as the coronavirus pandemic continues to cause havoc.

OTCMKTS:DECN Price Analysis

The ever-growing demand for coronavirus test kit presents a unique opportunity for the company to generate significant value. In return, investors have continued to push the stock higher even as the broader equity market continues to plunge into the bear territory.

OTCMKTS:DECN is currently trading in a steep uptrend after succumbing to bearish pressure in 2019. Given the strength of the upward momentum, the stock is closing in on its one-year highs as the break out shows no signs of slowing down. A rally followed by a close above the $0.08 mark should open the door for bulls to push the stock to two-year highs.

Similarly, the $0.05 mark is the immediate support level above which the stock remains a bull play. Conversely, a breach of the support level would leave Decision Diagnostics susceptible to further drops, probably back to the $0.03 level. However, given the developments on the global scene, the stock looks set to continue powering high on pullbacks.

About OTCMKTS:DECN

Decision Diagnostics bills itself as a leading manufacturer and worldwide distributor of diabetic test strips. The company’s products are designed to operate efficiently in certain glucose meters worldwide. Similarly, the company has, in the recent past, diversified its footprint with the development of kits for testing of the coronavirus.

Why is Decision Diagnostics Exploding?

OTCMKTS:DECN has taken the market by storm on unveiling a new screening methodology for the coronavirus. The new test kit is designed to provide a timely, simple to use, and cost-effective solution for the screening of the COVID-19 virus. The introduction of the test kit comes at a time of growing demand for more effective ways of testing for the virus to curb the further spread.

Decision Diagnostics is planning to make the kits available t in pharmacies as well as doctors’ offices, clinics, and urgent care centers. The company projecting the sale of up to 420 million kits in the first full year of sale is the latest development that has caught the market by surprise.

Should the company succeed in selling 420 million kits, and then it stands a fair chance of generating significant returns that should go a long way in bolstering its bottom line.

“GenViro! Will be a perfect storm product, and our timing here is spot-on. Our biggest challenge will be meeting the expected crushing demand. For that we prepared, and are interviewing most likely partners currently,” said Chief Executive Officer, Keith Berman.

OTCMKTS:DECN has also introduced GenExpidient Universal Translator that is to be included in the Covid-19 test kit. The device will make it easy to clean and disinfect the coronavirus test kit GenViro meter.

The company is to sell the coronavirus test kits at between $4.95 and $7.95. A confirmation that the company has already been contacted by a number of potential partners to supply the test kit underscores the strong demand in the market. The company is exploring the possibility of partnering another company in a bid to enhance the distribution of the test kit and be able to generate the desired returns.

In addition to the coronavirus test kit, the company also boasts of a diversified product portfolio that continues to strengthen its revenue base. For starters, it is currently marketing the PetSure test strip designed for diabetic testing in dogs and cats.

Bottom Line

With the spread of the coronavirus showing no signs of slowing down, Decision diagnostics has on its hands a huge opportunity. Demand for coronavirus test kit should continue to spike as governments around the world race against time to contain the pandemic.

Likewise, companies with products able to enable the testing stand to reap big until an ideal vaccine for the virus comes into being. That said, Decision Diagnostics should be able to generate significant returns on selling more than 1 million GenViro test kit.

Similarly, the stock looks set to continue powering higher as investors come to terms with the huge opportunity up for grabs.

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Disclosure: We have no position in OTCMKTS:DECN and have not been compensated for this article.