My first earnings short-squeeze candidate is oil and gas exploration and development player Triangle Petroleum (TPLM - Get Report), which is set to report its results on Thursday before the market open. Wall Street analysts, on average, expect Triangle Petroleum to report revenue of $3.35 million on a loss of 4 cents per share.
The current short interest as a percentage of the float for Triangle Petroleum is notable at 8.3%. That means that out of the 39.28 million shares in the tradable float, 3.55 million are sold short by the bears. The short-sellers have also been increasing their bets from the last reporting period by 14%, or by about 435,000 shares.From a technical standpoint, TPLM is currently trading below both its 50-day and 200-day moving averages, which is bearish. For the past two months, this stock has been trading inside of a range, between $4.80 and $6.40 a share. The stock is currently trading near $5.19 a share and it has just broken below its 50-day moving average of $5.24 a share.
2012 Stock Predictions and Outlook
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