Short Squeeze is On! – Westport (WPRT) and Clean Energy (CLNE)
June 19, 2012 11:35 am
There is a serious squeeze action going on today. In particular, a couple of the companies that have business based on natural gas. Westport Innovations (WPRT) has a large short interest of 6.48 days to cover and is moving along with the sector.
Notice how the current price is moving above the key resistance area based on accumulation volume at price. This is often where a fast zone occurs and a place that a long entry could become profitable very quickly.
Clean Energy (CLNE) is also showing a similar position. With 7.4 days to cover, this can provide a wicked move higher above $15.12. While the price is already above the first “trigger” level, it has a wide fast zone to $16.35.
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