When stocks trade in a narrow range, it might often be an indication of a breakout in the future and hence, such stocks may be tracked closely by investors.
The NXT-ID Inc (NASDAQ: NXTD) stock has been trading in a narrow range over the course of the past few trading sessions and perhaps it is time for investors to track the stock. There has been no recent news with regards to the company but investors could take a look at certain developments from the past.
Back on February 9 this year, the company announced that it made a prepayment of as big as $5 million against its senior secured debt. The healthcare device company made the prepayment in question in principle. The prepayment was a significant development for NXT-ID since the transaction brought down the principal amount of the debt to $5.7 million. At this point, investors might consider keeping their eyes peeled for any news with regards to NXT-ID.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.