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Idera Pharmaceuticals, Inc. Message Board

  • hoffner518 hoffner518 Jul 10, 2014 4:11 PM Flag

    TA. Input from others?

    I see today as the bottom. The daily lows, not the closes, on April 15th, May 9th, May 22nd and today, show a continuing upward trending support. Yesterdays candlestick is showing a doji, which can sometimes mean a reversal is coming. IDRA gapped down this morning after the market opened and ended up closing +0.04 above opening price.

    I'm also potentially seeing an inverse head and shoulders pattern. The neckline would be ~3.50. The right shoulder being formed around the lows in mid May at ~2.40. The head being 3.50 on June 10th and then possibly today being the left shoulder because we bounced off of the trending support. This would mean 3.50 is our breakout point.

    Tomorrow will be an important day, but I like how the chart looks right now. If we break the trending support, then things could get even worse. However, I would love to hear some TA input from others.

    Sentiment: Strong Buy

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    • An inverse head and shoulder is just the opposite of what you are describing. Head and shoulder tops can occur at the bottom but are referred to as W bottoms. Picking the bottom is the most difficult for technicians.
      I have missed one violation at 2.80 The last two days it has rejected the chance to close at its lows. The overall market certainly gave it the chance. I don't see it retesting the the May low of 2.34. I have a trendline drawn
      from the intraday lows of 5/9 and 5/22 and today's low. All three solders line up. I am all in right here but as everyone VERY cautious.

      • 3 Replies to excavater4u
      • Agreed. Not sure how I mixed up inverse h&s..probably should avoid looking at charts on a phone. Still really like how yesterday bounced off of the intraday low trending support line. Could be the second part of a double bottom reversal? 3.50 is still my breakout point.

      • I like the trendline excavator4u has mentioned connect the three low candles. 2 from May and then today. I see hollow red candles formed many times there is a reversal of trend, and would also like to mention that slow stochastics has turned up 14,3 and 5,1 (K & D) and that MACD is looking ripe for a crossover. I think risk reward here is very good, I'd buy if I had more dry powder. I'm all in with an average of 3.37 and holding for multiples in a year to three years.

        Sentiment: Strong Buy

      • One more thing on today's action. Besides a possible W bottom and the trendline hoffner518 pointed out from the intraday low of 4/15 to today's intraday low there also is a 3 day candle pattern.
        I hate to mention these but here it goes. Its called a BULLISH UNIQUE THREE RIVER BOTTOM.
        This is a three-candlestick pattern that somewhat looks like the Bullish Morning Star. It appears in a downtrend. The first day’s black candlestick engulfs the following small black body, which characteristically has a long lower shadow. The pattern is completed by a small white body, which closes below the close of the second day. This gives a buy signal at 2.62

    • looks like a double bottom forming... (shape of a W ). could hit may lows again before running...the good thing about bouncing off the may lows is ..the distance from the trough to breakout can be added to the resistance break for estimated target ..this would imply the bigger the formation the larger the potential advance...and the charts are oversold so plenty of room to run.......

    • No head and shoulders dude.

    • Closed red for like the 7th day out of 9 and one of those up days was up one cent.
      I'd hardly say this is good or a reversal of any sort.
      the chart looks like #$%$. Not sure how you can say you like how it looks. lol

1.66-0.02(-1.19%)May 3 4:00 PMEDT