5 Hated Stocks Poised to Pop on Earnings
I would simply avoid SONC or look for short-biased trades after earnings the stock fails to trigger that breakout, and then moves below some near-term support at $8.50 a share with high-volume. If we get that action, then SONC should setup to re-test its next significant support levels at $7.91 to $7.73 a share if the bears smack this stock lower post-earnings. Micron Technology
An earnings short-squeeze trade idea in the semiconductor complex is Micron Technology (MU) , which is set to release numbers on Wednesday after the market close. This is a global manufacturer and marketer of semiconductor devices, principally Dynamic Random Access Memory, NAND Flash and NOR Flash memory, as well as other memory technologies. Wall Street analysts, on average, expect Micron Technology to report revenue of $2 billion on a loss of 20 cents per share.
If you're looking for a heavily-shorted beaten-down stock heading into its earnings report this week, then make a sure to check out shares of Micron Technology. This stock has been smashed by the bears during the last three months, with shares dropping over 30%. That sharp drop could be setting up Micron Technology for a rebound trade post-earnings if the company can deliver the numbers the bulls are looking for.