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Bristow Group Inc $BRS is the stocks Trade of the Week

The Trade Ideas scan labeled “Trend Change Lubricant” is pointing towards a wonderful short squeeze opportunity with a chart pattern emerging from an exceptionally tight range and basing formation. Bristow Group $BRS just had earnings and the company surprised with better than expected results.

The percentage of short sellers in this stock is a whopping 64% and they will have to decide what to do if BRS breaks out of this long tight basing range. If they decide to cover their shorts by buying the stock back, we could see a nice short squeeze higher. With a relatively low float of shares in circulation (32 million), we see even more reason for continuation out of this tight range.

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