My final earnings short-squeeze play is solar energy player First Solar ( FSLR), which is set to release numbers on Tuesday after the market close. Wall Street analysts, on average, expect First Solar to report revenue of $721.08 million on earnings of 52 cents per share. >>3 Hot Stocks to Trade (or Not) The current short interest as a percentage of the float for First Solar is extremely high at 16.2%. That means that out of the 63.28 million shares in the tradable float, 11.23 million shares are sold short by the bears. This is a high short interest on a stock with a relatively low float. If the bulls get the earnings news they're looking for, then shares of FSLR could soar higher post-earnings as the bears rush to cover some of their short bets. From a technical perspective, FSLR is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has been trending sideways for the last month, with shares moving between $45 on the downside and $51.60 on the upside. A high-volume move above the upper-end of its recent range could trigger a major breakout trade for shares of FSLR post-earnings. If you're in the bull camp on FSLR, 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 levels at $50 to $51.60 a share with high volume. Look for volume on that move that hits near or above its three-month average volume of 6.40 million shares. If that breakout triggers, then FSLR will set up to re-test or possibly take out its next major overhead resistance levels at $56.70 to its 52-week high at $59 a share. Any high-volume move above $59 will then put $65 to $70 into range for shares of FSLR. I would avoid FSLR 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 $46.30 to $45 a share with high volume. If we get that move, then FSLR will set up to re-test or possibly take out its next major support levels at $40.46 to its 200-day moving average at $36.01 a share. To see more potential earnings short squeeze plays, check out the Earnings Short Squeeze Plays portfolio on Stockpickr. -- Written by Roberto Pedone in Delafield, Wis.