I would simply avoid SGEN or look for short-biased trades if after earnings it fails to trigger that breakout, and then drops back below some key near-term support at $24 to $22.76 a share with high volume. If we get that move, then SGEN will set up to re-test or possibly take out its next major support level at $21 to $19.03 a share.
To see more potential earnings short squeeze plays, check out the Earnings Short Squeeze Plays portfolio on Stockpickr.
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