The current short interest as a percentage of the float for the GasLog sits at 3.4%. That means that out of the 23.46 million shares in the tradable float, 759,000 shares are sold short by the bears. This isn't a huge short interest, but it's more than enough to spark a tradable short-covering rally if GasLog delivers the earnings news the bulls are looking for.
From a technical perspective, GLOG is currently trending below its 50-day moving average, which is bearish. This stock has been downtrending a bit for the last two months, with shares falling from a high of $12.29 to its recent low of $10.35 a share. During that downtrend, shares of GLOG have been consistently making lower highs and lower lows, which is bearish technical price action. That said, GLOG has now started to rebound off that recent low and move within range of triggering a near-term breakout trade.
If you're bullish on GLOG, then I would wait until after its report and look for long-biased trades if this stock can manage to break out above some near-term overhead resistance levels at $11.23 to $11.84 a share with high volume. Look for volume on that move that hits near or above its three-month average volume of 126,306 shares. If that breakout triggers soon, then GLOG will set up to re-test or possibly take out its next major overhead resistance level at $12.29 a share. Any high-volume move above $12.29 will then put $13.50 to $14 into focus for GLOG.
I would avoid GLOG 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 $10.35 a share with heavy volume. If we get that action, then GLOG will set up to re-test or possibly take out its next major support levels at $9.75 to $9.50 a share.Deere & Co My final earnings short-squeeze play is Deere & Co. (DE), which is set to release numbers on Wednesday before the market open. This company operates in three major business segments: agriculture/turf, construction/forestry and financial services. Wall Street analysts, on average, expect Deere & Co. to report revenue of $8.85 billion on earnings of $1.88 per share.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $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
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV