Idera Pharmaceuticals Inc (IDRA)

[Citrati]

For the last 5 weeks IDRA has been in a sideways average 50 point channel with a slight downward bias.
Price is soon to reach opposing forces requiring a turn up or down and break the formed wedge.
http://stockcharts.com/h-sc/ui?s=IDRA&p=D&yr=0&mn=7&dy=0&id=p63100512577
Click on the chart. Then click on annotate.
Draw a line from 5.24 down through 3.91 out past the empty spaces and price.
Draw a line from 2.65 past the bottom of the long white candle tail in May and connect to other line.
This forms the large wedge and shows the top line as resistance containing price.
Now draw another bottom line from 2.65 through 3.29 to the top line. This is current support and creates another wedge that now contains the last 2 months price action.
This is the wedge that will break soonest.
Lastly draw a line from 5.24 through 3.885 all the way to lowest bottom trend line.
Now look at each wedge with corresponding price action and correlate with favorite indicators.
You now have not only a current picture but should be able to see vital future points and what could happen at those points.
Horizontal support and resistance lines can be added as desired for ST and LT possible buy/sell targets.
Hope this is helpful to someone on the board while we wait for the break.
Taking out the 50 day and adding the Ichi cloud adds to positive bias/break feelings as price is trying to build a base above the cloud. Don't want price to ride it down though.
http://stockcharts.com/h-sc/ui?s=IDRA&p=D&yr=0&mn=7&dy=0&id=p79542235611
IDRA

Obviously this is TA only and takes no fundamentals or PR timelines into account.
Be Green Everyone.