Another potential earnings short-squeeze trade idea is post-secondary education player Corinthian Colleges ( COCO), which is set to release its numbers Thursday before the market open. Wall Street analysts, on average, expect Corinthian Colleges to report revenue of $379.66 million on earnings of 3 cents per share. >>5 Rocket Stocks to Buy This Week The current short interest as a percentage of the float for Corinthian Colleges is extremely high at 26.1%. That means that out of the 78.97 million shares in the tradable float, 19.98 million shares are sold short by the bears. The bears have also been increasing their bets from the last reporting period by 2%, or by 392,000 shares. If the bears are caught pressing their bets into a strong quarter, then shares of COCO could rip sharply higher post-earnings as the bears rush to cover some of their short positions. From a technical perspective, COCO is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has been trending sideways inside of a consolidation pattern for the last three months and change, with shares moving between $2.06 on the downside and $2.97 on the upside. Any high-volume move above the upper end of its recent range could trigger a major breakout trade for shares of COCO post-earnings. If you're in the bull camp on COCO, 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 $2.75 to $2.90 a share and then once it clears its 52-week high at $2.97 a share with high volume. Look for volume on that move that hits near or above its three-month average action of 777,330 shares. If that breakout triggers, then COCO will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that breakout are its next major overhead resistance levels at $3.44 to $4 a share. I would simply avoid COCO or look for short-biased trades if after earnings it fails to trigger that breakout and then drops back below its 50-day at $2.37 a share and its 200-day at $2.31 a share with high volume. If we get that move, then COCO will set up to re-test or possibly take out its next major support levels at $2.15 to $2.06 a share. Any high-volume move below those levels will then put $1.90 to $1.87 into range for shares of COCO.