Cardiff Oncology, Inc. (CRDF)

[apollo1452]

Similar Setup to Feb-March Run $3.51 to $6.93

TROV's current trading looks very similar to the run in early Feb from a low of $3.51 to the March 8 peak of $6.93, especially on a Heikin-Ashi candlestick chart. The RSI is spiking, MACD is poised for a crossover & the volume is comparable. Trading on the Ask has been strong the past 3 days. The AACR news has been very well received by investors. New CEO Welch is off to a good start. $60,000,000 cash on hand. The short thesis of the past 3 weeks is sucking air.

However, the short sellers are still working overtime even though the last 2 days have smacked them. The FINRA daily short sale percentages for the past 3 trading days are 77.4%, 57.8% & Monday's 68%. That's heavy shorting & it's all underwater due to the 25% pps gain the past 2 days. So, short covering could be more potential fuel for this current run. During the Feb-March run the daily shorting quickly declined into the mid 30% range. IMO, as long as buyers continue to Slap the Ask on decent volume the shorts will lose.
GLTL