Maintaining Its Strong Green Push, Nasdaq Idea (OXBR) Could Be Entering Squeeze Territory
OXBR needs to remain high on your watch-list today.
With it holding strong, still up approximately 20% at the moment, OXBR is a shiny green beacon in an overall red market.
But here's what you need to pay close attention to...
OXBR is trading above 2 key lines of potential support in its 50-Day Simple Moving Average (SMA) and its 13-Day Exponential Moving Average while only slightly below its 200-Day SMA.
That means if OXBR is able to continue vertically today, a potential squeeze could be in the cards if 200-Day potential resistance breaks down.
And with a 1.5 month high of $2.41+ under its belt, OXBR could start drawing a lot of attention.
Take a second now to read my initial report below and get low float OXBR on radar now.
Did you see last week's alert catch fire?
Brought to your attention the evening of March 15th, it opened up the following session at $1.17.
Fast-forward to yesterday... While setting a new 1-month high, the profile reached $1.89 to pull off an approximately $.70+ move in about a week.
With this short term burst, it became my latest profile to don the champ's crown after running approximately 61% short term.
But now it's time to turn to another explosive Nasdaq idea.
Based on its low float, explosive chart history, and big 2023 news, this profile could become a major breakout target.
For Friday, March 24th, there is only one Nasdaq profile to have at the top of your watch-list:
*Oxbridge Re Holdings Limited (OXBR)*
Oxbridge Re is a Cayman Islands reinsurance holding company that provides reinsurance business solutions primarily to property and casualty insurers in the Gulf Coast region of the United States.
Through their wholly owned Cayman Islands reinsurance subsidiary, Oxbridge Reinsurance Limited, they write fully collateralized policies to cover property losses from specified catastrophes. They specialize in underwriting medium frequency, high severity risks, where they believe sufficient data exists to analyze effectively the risk/return profile of reinsurance contracts.
Oxbridge Re underwrites reinsurance contracts on a selective and opportunistic basis as opportunities arise based on their goal of achieving favorable long-term returns on equity for their shareholders. Their goal is to achieve long-term growth in book value per share by writing business that will generate attractive underwriting pro-fits relative to the risk they bear.
Read more about the company here.
And as I mentioned previously, OXBR has several potential breakout catalysts to focus on right now. Take a look:
No. 1: A low float could create the potential for daily volatility.
According to the Yahoo Finance website, OXBR has a low float.
The website reports this profile to have approximately 4.68Mn shares in its float.
Why is that important? It's important on one crucial level. Volatility.
With so few shares available, the potential for volatility could be extremely significant.
No. 2: An explosive chart history displays OXBR's eruptive potential.
Take a sec and look at OXBR's 6-month chart: