My first earnings short-squeeze candidate is oil and gas exploration and development player Triangle Petroleum (TPLM), 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
|Your one-stop shop for 2012 stock recommendations and market predictions.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV