Sharps Technology's 15min chart shows KDJ Death Cross, Bearish Marubozu

According to the 15-minute chart of Sharps Technology, a KDJ Death Cross and Bearish Marubozu were observed on May 2, 2025 at 13:45. This indicates a shift in momentum towards the downside, with potential for further price depreciation. Sellers currently dominate the market, and it is likely that bearish momentum will continue.

Shares of Sharps Technology, Inc. (STSS) traded 24% higher on Wednesday afternoon following the company's receipt of a $400,000 purchase order from an IV flushing solutions provider. This order represents the first delivery under a $50 million supply agreement announced in July, which includes the supply of approximately 500 million customized 10 mL SoloGard syringes to the U.S.-based supplier over five years [1].

CEO Robert Hayes noted that the order signifies a transformative moment for Sharps Technology as it begins generating revenue. "Our strategic partnership is now moving from the agreement to the execution phase, with this initial order serving as the foundation for accelerating volume in the quarters ahead," Hayes said. "We look forward to advancing this supply agreement and delivering long-term value to our shareholders."

The company's Hungarian manufacturing facility is fully prepared to deliver these first orders of pump-compatible 10mL SoloGard syringes. Revenue from the order will mark Sharps' first revenue of 2025. Sharps has also invested in advanced production technology for SoloGard manufacturing and will soon begin installation and operational qualification to support increased production capacity [1].

In addition to the purchase order, Sharps Technology announced a 1-for-300 reverse stock split of its common stock, effective April 27, 2025. The reverse stock split aims to bring the company into compliance with Nasdaq's minimum bid price requirement of $1 for continued listing on the exchange. Post-split, the shares will continue to trade under the ticker symbol "STSS" starting April 28, 2025 [3].

Analysts have forecasted a substantial upside for Sharps Technology, with a one-year price target of $352.00, indicating a potential 6,940.00% increase from the current trading price of $5.00. The consensus recommendation from one brokerage firm positions Sharps Technology with an "Outperform" status, suggesting optimistic expectations compared to the broader market [3].

However, technical indicators have shown bearish signals. According to the 15-minute chart of Sharps Technology, a KDJ Death Cross and Bearish Marubozu were observed on May 2, 2025, at 13:45, indicating a shift in momentum towards the downside and potential for further price depreciation. Sellers currently dominate the market, and it is likely that bearish momentum will continue [2].

References:
[1] https://stocktwits.com/news-articles/markets/equity/sharps-technology-gets-new-purchase-order/chXTLUYRbie
[2] https://stockinvest.us/stock/STSSW
[3] https://www.gurufocus.com/news/2815641/sharps-technology-stss-implements-reverse-stock-split-to-maintain-nasdaq-listing