Whirlpool Corp. (WHR) reported a double-digit decline in orders in its latest results. Their earnings and revenue numbers missed forecasts by fundamental analysts and the company also cut its guidance. A bad combination.
In our April 26 review of WHR we looked for further weakness. Let's check the charts again.
In the updated daily bar chart of WHR, below, we can see that the shares have nearly been cut in half since early January. Prices trade below the declining 50-day moving average line and below the bearish 200-day moving average line.
The On-Balance-Volume (OBV) line shows us a fresh decline from August. The Moving Average Convergence Divergence (MACD) oscillator is bearish.