Idera Pharmaceuticals Inc (IDRA)

[Citrati]

Two very interesting triangles IMO.
http://stockcharts.com/h-sc/ui?s=IDRA&p=D&b=5&g=0&id=p60318936283
Draw a horizontal support at 1.75. Chose this because all closes so far have been there or above.
Draw a line from 4.42 through 3.28 to edge of chart forming triangle with horizontal just drawn.
That is the major trend triangle.
Now draw ST uprtrend 1.50 through 1.63 to LT down trend linel.
Then draw from horizontal through 1.87, 2.02 back to long candle body.
This triangle captures all the ST action.
What happens inside the small ST triangle will determine whether I start buying or we test the lows again. Ideally we ride the ST slope up to LT down trend line and b/o. Then we can set our eyes on the targets going up.
Be Green in Sixteen.
IDRA