Cardiff Oncology, Inc. (CRDF)

[pottsvision]

"it`s an out of favor play"
Very true - but it looks longer term like the bullish trend may be established. A bottom formed in october - with a quick run to ~2.50 on massive volume... confirmed in early january after a long period of consolidation.

A pullback here is healthy - MACD turned bullish intraday after the initial selloff and trading was in a VERY tight range... after hours ended down but also had periods of up.

I'm not really a technical trader - but to me it does appear the longer term trend is in place and we do have accumulation. Watching level 2 there was solid support but very little chasing the ask... a few thousand shares bid at 1.85 kept getting stacked by 300-600 share buys, just enough selling to satisfy those orders and just enough patient buyers to not slap the ask back north of 2 - the mark of "I'm scooping up your shares" (I was one of those buyers)... stocktwits is mostly bullish and we have a reputable analyst putting a $23 target on this - but that "many have been burned" feeling is plenty prevalent.

Could have cited the same bearish case about the dip to ~1.60 after the run to 2... a similar pattern of trading would put this ~3 in a week or 2.

In my view this is worth holding - a break of 2.50 would confirm the bullish thesis and with any momentum this low float will fly... this may not happen for months... this may happen tomorrow... may never happen!

Either way, if this goes phase 3 its highly likely that its going to be trading far far north of here - the data indicates it CAN go phase 3, thus I am holding until such thesis is broken.

Major risk here - as goes risk/reward... I'm mostly trading profits and have no plan to add to my position until we absolutely confirm the bullish trend... I would not bet the rent $ on this one right now and I wouldn't count on this to pay for my retirement... a lottery ticket, though I'd argue the odds are much *much* higher than pick 3.