One potential earnings short-squeeze trade in the software complex is iGate ( IGTE), which is set to release numbers on Friday before the market open. This company is an outsourcing provider of integrated end-to-end offshore centric information technology and IT-enabled operations solutions and services. Wall Street analysts, on average, expect iGate to report revenue of $268.64 million on earnings of 29 cents per share. This company has met or topped Wall Street estimates during the last four quarters. In the last quarter, iGate reported earnings per share of 38 cents, beating Wall Street estimates of 32 cents per share. The current short interest as a percentage of the float for iGate is worth mentioning at 5.6%. That means that out of the 25.87 million shares in the tradable float, 1.74 million shares are sold short by the bears. >>4 Earnings Reports Bigger Than RIM's From a technical perspective, IGTE is currently trading below its 50-day moving average and above its 200-day moving average, which is neutral trendwise. This stock recently sold off pretty hard from its May high of $19.97 a share to a recent low of $15.65 a share. After hitting that low, shares of IGTE have started to reverse its downtrend since the stock is now making higher lows and higher highs. This move has pushed the stock within range of triggering a near-term breakout trade. If you're in the bull camp on IGTE, then I would look for long-biased trades after earnings if this stock manages to trigger a near-term breakout above some overhead resistance at $17.90 to $18.43 a share with high volume. Look for volume on that move that hits near or above its three-month average action of 240,144 shares. If we get that move, then IGTE could easily re-test and possibly take out its May high of $19.97 a share post-earnings. I would simply avoid IGTE or look for short-biased trades after earnings the stock fails to trigger that breakout, and then moves back below its 200-day moving average of $16.27 a share with high volume. If we get that action, then IGTE could possibly re-test and take out its recent low of $15.65 a share if the bears smack this stock lower post-earnings. A high-volume move below $15.65 could mean that IGTE is setting up to re-test its next major support zone at $13.60 a share.