If you're in the bull camp on SPLK, then I would wait until after its report and look for long-biased trades once it manages to take out some near-term overhead resistance levels at $29 to $29.23 a share with high volume. Look for volume on that move that hits near or above its three-month average action of 1,038,110 shares. If that breakout triggers, then SPLK will set up to re-test or possibly take out its next major overhead resistance levels at $31.63 to $32.78 a share. Any high-volume move above those levels will then put $35 into focus for shares of SPLK. I would simply avoid SPLK or look for short-biased trades if after earnings it fails to trigger that breakout, and then moves back below some key near-term support levels at $27 to $26.10 a share with heavy volume. If we get that action, then SPLK will set up to re-test or possibly take out its 52-week low of $25.15 a share. Any move below that level should be considered bearish price action, since it's also the all-time low for shares of SPLK. 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.