I would avoid FRED or look for short-biased trades if after earnings it fails to trigger that breakout, and then drops back below both its 200-day at $13.65 and its 50-day at $13.38 a share with high volume. If we get that move, then FRED will set up to re-test or possibly take out its next major support levels at $12.80 to $12.25 a share.
To see more potential earnings short squeeze plays, check out the Earnings Short Squeeze Plays portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.
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