Guess technical notes ahead of earnings, short-squeeze potential
The shares have been in a volatile downtrend since hitting high in March of this year. If the news is a further negative surprise, that downtrend could extend. Support levels below the current price of $15.33 to watch as potential downside objectives are at $14.43, $13.89, and the 52-week low at $13.20. If the 52-week low is broken, next support below would be at $12.69 and then at $11.66. If the news is a positive surprise, first significant resistance would be at $16.25. A breakout above $16.25 would break the downtrend. Next resistance levels to watch as potential upside objectives would be at $16.73, $17.69, $18.39, and $19.39. With over 13.75% of the float short, the potential for a short-squeeze on strong positive news is high.