Today's plunge has placed SHRP back below resistance at its 10-day and 20-day moving averages, after the stock rallied above these short-term trendlines during the past 2 sessions. Furthermore, the security is also trading below the $5 mark - the site of building near-term technical resistance. Since early June, SHRP has given up more than 65%.
Naturally, with a stock in such dire straights, pessimism is extremely high for SHRP. More than 34% of the stock's float is sold short, while both analyst following the shares rate them a hold. Meanwhile, complacency rules in the stock's options pits, as SHRP's Schaeffer's put/call open interest ratio (SOIR) of 1.36 ranks near the mid-point of its annual range. This complacency does not bode well for a rebound in SHRP shares.