Shares of Kohl's took a massive hit this week.
The American retailer plummeted Thursday after a disappointing earnings. It missed analyst expectations in adjusted earnings per share and quarterly sales. The specialty department store blamed poor results on a recent shift in sales-tax holidays in some U.S. states. However, Kohl's continuous struggle to perform has investors on high alert.
Second-quarter earnings showed a 44 percent decrease in profit from last year. Meanwhile, its stock has fallen 2 percent while the S&P 500 retail industry group has risen 35 percent.
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"It's really been in this big 15-year sideways range. It's made no upside progress since 2000," said Ari Wald, head of technical analysis at Oppenheimer.
"We'd be staying away," Wald said. "The stock is in freefall, with no base yet and no support."
Kohl's hasn't been the only retail name to get hit after earnings. Macy's shares also suffered a massive selloff after reporting a 26 percent drop in second-quarter profits on Wednesday.