Flotek IndustriesMy first earnings short-squeeze play is oil well services and equipment player Flotek Industries ( FTK), which is set to release numbers on Wednesday after the market close. Wall Street analysts, on average, expect Flotek Industries to report revenue of $77.90 million on a loss of 17 cents per share. If you're looking for a stock with a decent short interest that's been uptrending strong heading into its earnings report this week, then make sure to check out shares of Flotek Industries. This stock has been in play with the bulls so far in 2013, with shares up 17.7%. The current short interest as a percentage of the float for Flotek Industries stands at 9.4%. That means that out of the 40.57 million shares in the tradable float, 4.42 million shares are sold short by the bears. If the bulls get the earnings news they're looking for, then shares of FTK could explode higher post-earnings. From a technical perspective, FTK 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 four months, with shares moving higher from its low of $9.23 to its recent high of $14.90 a share. During that uptrend, shares of FTK have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of FTK within range of triggering a near-term breakout trade post-earnings. If you're bullish on FTK, then I would wait until after its report and look for long-biased trades if this stock manages to break out above some near-term overhead resistance at $14.90 a share with high volume. Look for volume on that move that hits near or above its three-month average action of 425,821 shares. If that breakout hits, then FTK will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $17 to $20 a share. I would avoid FTK or look for short-biased trades if after earnings it fails to trigger that breakout, and then drops back below its 50-day moving average at $13.43 a share with high volume. If we get that move, then FTK will set up to re-test or possibly take out its next major support levels at $12.90 to $12.50 a share. Any move below $12.50 will then put its 200-day moving average at $11.63 into range for shares of FTK.