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TheStreet Open House

8 Stocks Under $10 Making Big Moves

Stocks in this article: TISAICGEKITDGLUUEGTDNNIDRAECYT

Idera Pharmaceuticals

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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

Volume: 88,000

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.

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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.
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