Idera Pharmaceuticals Inc (IDRA)

[Citrati]

My guess is this.
http://stockcharts.com/h-sc/ui?s=IDRA&p=D&yr=0&mn=2&dy=0&id=p49838643669
If you draw a line across the chart at $4.90 it shows that it has acted as a test point for both support and resistance since Jan. Once it finally becomes firm support, we should be good for higher levels.
$4.45-4.50 which we tested yesterday is another key level as that is the Dec b/o level.
http://stockcharts.com/h-sc/ui?s=IDRA&p=D&yr=0&mn=8&dy=0&id=p72659871453
Right now the bulk of trading has been within that range of $4.45-$5.00. Consistent closing above (or below) will be significant for future direction.
Given the Baker's track record and significant involvement here there is a level of comfort. Timing of news (will things be quiet for a while) after the capital inflow will a big influence on that $4.90-5.00 and whether IDRA tests recent highs. Closing below the 10 day will suggest weakness in the short term and that anticipatory exuberance has dissipated. JMO
IDRA