• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing

Does Cardiff Oncology Pass the Speculative Test?

After watching the moves in Trillium Therapeutics, a Real Money reader wants to play CRDF. Here's the what the charts say.
By BRUCE KAMICH
Aug 23, 2021 | 01:47 PM EDT
Stocks quotes in this article: TRIL, CRDF

A Real Money subscriber saw the overnight gains in Trillium Therapeutics (TRIL)  and wondered if he could score a home run with Cardiff Oncology (CRDF) . Let's check the charts of this a clinical-stage company looking to develop new oncology therapeutic options for cancer patients.

 
In this daily bar chart of CRDF, below, we can see that prices made a sharp year-end rally into early January 2021, but have since slipped lower and lower giving back the entire rally. Prices are trading below the declining 50-day and 200-day moving averages.
 
The trading volume has been extremely low telling us that traders are going somewhere else for "action." The On-Balance-Volume (OBV) line shows a slow decline from October and suggests that sellers of CRDF are more aggressive. The 12-day price momentum study shows higher lows from January telling us that the pace of the decline has slowed. This is a long bullish divergence, but it has not translated into a rally.
 
 
In this weekly Japanese candlestick chart of CRDF, below, we can see that prices made a saucer bottom pattern in 2019 and 2020 that preceded its run up to $25. Prices have given back a significant part of the rally. CRDF is trading below the declining 40-week moving average line. The weekly OBV line has been in a slow decline from October 2020.
 
The 12-week price momentum study shows a bullish divergence this year, but like the daily chart it has not translated into a rally.
 
 
In this daily Point and Figure chart of CRDF, below, we can see a minor upside price target of $6.
 
 
In this weekly Point and Figure chart of CRDF, below, we see that the software is projecting the $1 area as a price target.
 
 
Bottom line strategy: Chart readers could make the case that the charts of TRIL were bearish just the other day, but that did not stop a huge upside gap from happening. Could CRDF gap higher on a surprise take-over bid? On Wall Street anything can happen, but I do not see lightning striking twice.
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Investing | Technical Analysis | Biotechnology | Healthcare | Life Sciences

More from Investing

Fear and Anxiety on Wall Street

James "Rev Shark" DePorre
Aug 17, 2022 4:41 PM EDT

We've got fear of missing out and wariness that the market may keep running away to the upside.

Peabody Is Glowing Hot

Mark Sebastian
Aug 17, 2022 3:19 PM EDT

Here's how to play Peabody Energy as it looks like it could fire up over $25.

It's Hard to Say What's Cookin' at Weber, Though It Smells Like a Short Squeeze

Jonathan Heller
Aug 17, 2022 11:30 AM EDT

The grillmaker's stock has traded wildly and heavily at times, most recently this week after it posted its latest results on Monday.

Dour Day Shows Why I've Been Raising Cash Into Strength

James "Rev Shark" DePorre
Aug 17, 2022 10:44 AM EDT

I'm not aggressively bearish, but just waiting for better technical conditions.

Target Badly Misses the Mark, Which Sets It Up for a Bearish Bet

Stephen Guilfoyle
Aug 17, 2022 10:30 AM EDT

The big retailer's second-quarter results were atrocious and so is its balance sheet, which makes it a stock not to buy right now.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 02:23 PM EDT STEPHEN GUILFOYLE

    We're Cleaning Out This Retailer From the Bullpen

    Check out the latest moves in TheStreet's Stocks U...
  • 10:24 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    To Improve Your Trading and Investing, Spend More ...
  • 08:44 AM EDT PETER TCHIR

    CPI Beats Expectations, But Maybe Not the 'Whisper'?

    Slightly better-than-expected inflation across the...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2022 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login