5 Stocks Set to Soar on Bullish Earnings
The current short interest as a percentage of the float for FactSet Research Systems stands at 7.8%. That means that out of the 41.34 million shares in the tradable float, 3.22 million shares are sold short by the bears. This isn't a huge short interest, but it's more than enough to trigger a sizeable short-squeeze post-earnings if FactSet Research Systems can deliver the news the bulls are looking for.
From a technical perspective, FDS is currently trading above both its 50-day and 200-day moving averages, which bullish. This stock has been uptrending strong since it broke out in March with heavy volume above some overhead resistance at around $93 a share. Since triggering that breakout, shares of FDS have soared to a recent high of $109.20 a share. During that move, shares of FDS have consistently made higher lows and higher highs, which is bullish technical price action. That move has how pushed FDS within range of triggering a near-term breakout trade post-earnings.
If you're in the bull camp on FDS, then I would wait until after they report and look for long-biased trades if this stock can manage to trigger a break out above some near-term overhead resistance at $108.00 to $109.20 a share with high volume. Look for volume on that move that registers near or above its three-month average action of 400,680 shares. If we get that action, then the bulls could easily push FDS towards $120 a share or higher post-earnings.