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TheStreet Open House

5 Short-Squeeze Earnings Opportunities to Take

I would simply avoid NAV or look for short-biased trades if after earnings it fails to trigger that breakout, and then drops back below its 50-day at $20.57 a share with high volume. If we get that move, then NAV will set up to re-test or possibly take out its next major support levels at $19.24 to $18.17 a share. Any move below $18.17 a share would then push NAV into new 52-week low territory, which is bearish technical price action.

FactSet Research Systems

Another potential earnings short-squeeze play is FactSet Research Systems (FDS) which is set to release its numbers on Tuesday before the market open. This company is a provider of integrated global financial and economic information, including fundamental financial data on tens of thousands of companies worldwide. Wall Street analysts, on average, expect FactSet Research Systems to report revenue of $212.26 million on earnings of $1.11 per share.

During the last quarter, this company topped Wall Street estimates by 4 cents, after coming in at a net income of $1.11 a share versus estimates of $1.07 per share. That marked the fourth straight quarter in a row that the company Wall Street beat estimates.

The current short interest as a percentage of the float for FactSet Research Systems is pretty high at 10.8%. That means that out of the 41.01 million shares in the tradable float, 4.43 million shares are sold short by the bears. The bears have also been increasing their bets from the last reporting period by 5.3%, or by about 225,000 shares. If the bears are caught leaning too hard into this quarter, then we could see a sharp move higher in the stock as they rush to cover some of their short bets.

From a technical perspective, FDS is currently trending above its 50-day moving average and right below its 200-day moving average, which is neutral trendwise. This stock has been uptrending strong for the last month and change, with shares moving higher from a low of $86.80 a share to its recent high of $96.50 a share. During that move, shares of FDS have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed FDS within range of triggering a near-term breakout trade.

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