Yes, but this is not the same story with a high SI if stock is weak or stock is strong.
Of course, a stock like Valeant, without any psychological support (10 dollars? 5 dollars? 1 dollar???) give infinite potential for shorters. You can short it and make 80 pct, let it rebound 40%/50%, again short it and make 80 pct, etc. until this stock becomes a penny stock. So short interest can stay high as long as there are some dreamers to believe there would not be a bankrupcy.
HOG is strong because every attack during the last weeks is countered by bulls.
Without a real sign (or proof) of weakness, shorters can only fail. This is the case with HOG.
Price action is about psychology. So there is not perfect science. The game is to understand who got the nuts. Do Bulls still lead the game? Are there some weaknesses? Divergences?
For example, a classic tell here would be a weak new high, for example 62 or 63 dollars. That would be a good place for stops. Buyers don't keep price above 61.50. The day after, price falls below 60. This could be a good place to short, even if the reward would not be really attractive IMO.
