A look at the three-year weekly chart for ALR Technologies (OTCBB: ALRT) shows a baseline pattern and support at 6 cents with additional support at 7 cents. Higher lows have been progressively made over the three years with a top-end resistance at 24 cents. The chart is just above support as the MACD and RSI show a potential shift in trend, which could be signaling a potential move off the support again.

ALR Technologies gave shareholders an update on corporate developments today as they move towards a product launch of their Health-e-Connect System for diabetes management. The company has moved their headquarters to the Washington D.C. area and reported that they have been meeting with industry leaders and policymakers to convey the extreme benefits of their proprietary system.

As the government continues to try and reduce costs across the board, current expenses are being scrutinized and examined. Diabetes supplies are a major expense associated with Medicare/Medicaid.