Shutterfly Earnings Beat Leads To Technical Breakout

SFLY up 16% pre-market up to $38.  This signals a breakout above a year long range between $35-$25, and gap-up into new $40 resistance.  As of 1/15/13 there were 8.29 million shares short with 13.95 days to cover setting up a potential short squeeze in coming days. 

Weekly chart tells the story.  An ascending triangle chart pattern formed throughout all of 2012, new up-trend could result from breakout.