One earnings short-squeeze candidate in the biotechnology and drugs complex is Seattle Genetics ( SGEN), which is set to release numbers on Tuesday after the market close. This company focused on the development and commercialization of monoclonal antibody-based therapies for cancer. Wall Street analysts, on average, expect Seattle Genetics to report revenue of $52.33 million on a loss of 12 cents per share. This company is looking to beat Wall Street estimates for the third quarter in a row. During the last quarter, Seattle Genetics beat Wall Street estimates with a loss of 24 cents per share versus a mean estimate of 30 cents. And in the prior quarter, the company reported a net loss of 35 cents per share. As we approach its earnings report, shares of Seattle Genetics are trading just a few points off its 52-week high of $22.40 a share. The current short interest as a percentage of the float for Seattle Genetics is extremely high at 27.4%. That means that out of the 114.86 million shares in the tradable float, 31.43 million are sold short by the bears. This is a huge short interest, so if Seattle Genetics can beat earnings estimates and raise forward guidance, then this stock could easily skyrocket post-earnings. >>5 Stocks Insiders Love Right Now From a technical perspective, SGEN is currently trading below its 50-day moving average and above its 200-day moving average, which is neutral trendwise. This stock has been uptrending strong for the past six months, with shares soaring from a low of $14.61 to a recent high of $21.04 a share. That said, this stock has recently slipped back below its 50-day moving average of $19.19 a share, but it's still trading within range of a near-term breakout trade. If you're bullish on SGEN, I would look for long-biased trades after its report if this stock manages to break out above some near-term overhead resistance at $20.20 to $21.04 a share high-volume. Look for volume on that move that registers near or well above its three-month average volume of 1,122,660 shares. If we get that action, then SGEN should easily tag and possibly break out above its 2011 high of $22.40 a share. I would simply avoid SGEN or look for short-biased trades if the stock fails to trigger that breakout and then drops back below its 200-day moving average of $18.10 a share with heavy volume. If we get that action, target a drop towards $17 to $16 a share or possibly lower if the bears gain full control of this stock post-earnings.