The current short interest as a percentage of the float for Finisar is very high at 14.6%. That means that out of the 91.45 million shares in the tradable float, 13.21 million shares are sold short by the bears. From a technical perspective, FNSR is currently trending just above its 50-day moving average and below its 200-day moving average, which is neutral trendwise. This stock has been uptrending strong for the last month, with shares soaring from a low of $10.95 to a high of $14.15 a share. During that uptrend, shares of FNSR have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed FNSR within range of triggering a near-term breakout trade post-earnings. If you're bullish on FNSR, then I would wait until after its report and look for long-biased trades if this stock can manage to break out above some near-term overhead resistance levels at $14.15 to its 200-day at $15.05 a share with high volume. Look for volume on that move that hits near or above its three-month average action of 2,553,520 shares. If that breakout hits, then FNSR will set up to re-test or possibly take out its next major overhead resistance levels at $17.10 to $19 a share. I would avoid FNSR or look for short-biased trades if after earnings it fails to trigger that breakout, and then drops back below its 50-day at $12.81 a share with heavy volume. If we get that action, then FNSR will set up to re-test or possibly take out its next major support level at $10.95 a share. Any move below $10.95 would then push shares of FNSR into new 52-week low territory, which is bearish technical price action. Lululemon Athletica My final earnings short-squeeze play is Lululemon Athletica ( LULU), which is set to release numbers on Thursday before the market open. This company is engaged in the design, manufacture and distribution of healthy lifestyle inspired athletic apparel, which is sold through a chain of corporate-owned and operated retail stores, independent franchises and a network of wholesale accounts. Wall Street analysts, on average, expect Lululemon Athletica to report revenue of $305.05 million on earnings of 37 cents per share.