Kraft Heinz is hurting, and the pain is likely to persist, some traders say.

The core staples stock plummeted more than 8% Thursday, tumbling to an all-time low, after the company posted a steep sales decline and report $1.22 billion in charges and writedowns.

“I don’t see a bottom really getting set here in the stock quite yet,” Piper Jaffray chief market technician Craig Johnson said Thursday on CNBC’s “Trading Nation. ” “We’re breaking below the prior lows we had seen before with [Thursday’s] price action. Clearly from a longer-term chart, you’ve been making a series of lower lows and lower highs.”

The stock has tumbled 64% since the beginning of 2018, a drop spurred by shifting consumer tastes, accounting issues and the devaluing of its brands.

“What I would really like to see in this chart is a period of time where this stock just goes sideways,” said Johnson. “That would put into more of a bottom fishing category for me — you’re not there today. More time, and likely a lower price point is going to be there for this stock, before I’d be more interested.”

Nancy Tengler, chief investment strategist at Tengler Asset Management, said on “Trading Nation” she would be tempted to buy the company if it weren’t for one main concern.

“As a value investor, I would love to be able … to buy a stock, a historically great company, at a huge discount. The thing I worry about is when there is one dividend cut, that’s usually not the only one despite the company affirming,” said Tengler.

Kraft cut its dividend in February by 36%. The company now yields 2%, equal to the average on the S&P 500.

“Investors, even with the 6% yield, they sit on the sidelines. Let this thing settle out because when the growth managers are running for the exits, you really need to wait for the constituency to change. Otherwise, you’re not just early, you’re wrong,” said Tengler.