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Idera Pharmaceuticals(IDRA) is a clinical stage biotechnology company, engages in the discovery and development of novel synthetic DNA- and RNA- based drug candidates. This stock is trading up 8% to $2.14 in recent trading.
Today's Range: $2.01-$2.19
52-Week Range: $0.95-$2.70
Three-Month Average Volume: 48,192
From a technical perspective, IDRA has started to trigger a breakout trade today now that it's moving above some near-term overhead resistance at $2.09 with above-average volume.
Traders should now look for long biased trades as long as IDRA is trending above $2.09 with strong upside volume flows. If we continue to see that action, then IDRA has a great chance of trading up towards its next significant overhead resistance levels at $2.50 to $3 in the near future. Look for confirmation of this uptrend continuing if IDRA can close near its daily highs today, and continue that pattern in the future.
To see more stocks under-$10 that are making notable moves higher today, check out the
Stocks Under-$10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.