Another earnings short-squeeze play is apparel player G-III Apparel Group ( GIII), which is set to release its numbers on Wednesday before the market open. This company designs, manufactures and markets a range of apparel, including outerwear, dresses, sportswear, women's suits and women's performance wear, as well as luggage and women's handbags, small leather goods and cold weather accessories. Wall Street analysts, on average, expect G-III Apparel Group to report revenue of $254.10 million on earnings of 7 cents per share. G-III Apparel Group has been ripping higher so far in 2012, with shares up over 25%. Shares of G-III Apparel Group are currently trading just one point off its 52-week high of $32.34 a share as we near its report. >>5 Stocks Under $10 Set to Soar Higher The current short interest as a percentage of the float for G-III Apparel Group is pretty high at 12.5%. That means that out of the 13.14 million shares in the tradable float, 2.05 million shares are sold short by the bears. This is a decent short interest on a stock with a very low tradable float. If the bulls get the news they're looking for, then GIII could easily explode higher post-earnings as the shorts rush to cover some of their positions. From a technical perspective, GIII is currently trading above both its 50-day and 200-day moving averages, which is bullish. This stock has been uptrending strong since early August, with shares soaring from $23.04 to $32.34 a share. During that uptrend, shares of GIII have consistently made higher lows and higher highs, which is bullish technical price action. That move has now pushed GIII within range of printing new 52-week highs post-earnings. If you're in the bull camp on GIII, then I would wait until after its report and look for long-biased trades if this stock manages to trigger a breakout to a new 52-week high above $32.34 a share with heavy volume. Look for volume on that move that hits near or above its three-month average action of 124,838 shares. If we get that action, then GIII could easily re-test or take out its next significant overhead resistance level at $38.95 a share post-earnings. I would simply avoid GIII or look for short-biased trades if after earnings this stock fails to trigger that breakout, and then moves back below some near-term support at $29 to $28 a share with heavy volume. If we get that move, then GIII will setup to re-test and possibly take out its 50-day moving average of $26.58 a share post-earnings.