The shares of Limited Brands (LTD: sentiment, chart, options) are plummeting this morning, falling more than 7% after Citigroup downgraded the equity from "buy" to "hold." However, this type of pessimism is nothing new for the retailer. According to the latest data from Zacks, the stock has earned 2 "buy" ratings and 7 "holds." Yet, some lingering optimism can be found in the stock's average 12-month price target of $11.73, according to Thomson Financial. This target implies that analysts are expecting the shares to rally more than 36% during the next 12 months. Any price-target cuts from this group could add more selling pressure to the shares.

Skepticism toward the retailer can be seen in the seen among options players as well. The Schaeffer's put/call open interest ratio toward LTD stands at 1.26, as put open interest outnumbers call open interest among near-term options. This reading is also higher than two-thirds of those taken during the past 12 months.

At last check, the stock was down more than 9% in trading after being rejected by resistance at the 9 level. This area is also home to the equity's declining 20-day trendline, which has pressured the security lower since mid-September. During this time frame, the shares have shed more than 58%. This decline is a part of the stock's long-term downtrend from its peak of $32.60, reached in November 2006. With the equity locked in a downtrend, it is likely that pessimism will continue to creep higher, increasing selling pressure on the shares.