One potential earnings short-squeeze candidate is biotechnology and drugs player Seattle Genetics ( SGEN), which is set to release numbers on Tuesday after the market close. Wall Street analysts, on average, expect Seattle Genetics to report revenue of $57.21 million on a loss of 11 cents per share. If you're looking for a strong trending stock heading into its quarterly report, then make sure to take a hard look at shares of Seattle Genetics. This stock is up 28% during the last three months, and it has hit a 52-week high today at $30.85 a share. >>4 Big Stocks to Buy in February -- and One to Sell The current short interest as a percentage of the float for Seattle Genetics is pretty high at 19.3%. That means that out of the 98.03 million shares in the tradable float, 22.49 million shares are sold short by the bears. If the bulls get the earnings news they're looking for, then this stock could easily explode higher post-earnings. From a technical perspective, SGEN is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has been uptrending strong for the last month and change, with shares soaring higher from its low of $22.71 to its recent high of $30.85 a share. During that uptrend, shares of SGEN have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of SGEN within range of triggering a near-term breakout trade post-earnings. If you're bullish on SGEN, then I would wait until after its report and look for long-biased trades if this stock manages to break out to a new 52-week high above $30.85 a share with high volume. Look for volume on that move that hits near or above its three-month average action of 770,805 shares. If that breakout triggers, then SGEN will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $35 to $45 a share. I would avoid SGEN or look for short-biased trades if after earnings it fails to trigger that breakout, and then drops back below some key near-term support levels at $28.82 to $28.36 a share with high volume. If we get that move, then SGEN will set up to re-test or possibly take out its 50-day moving average of $26.67 a share or its 200-day moving average of $25.12 a share.