Earlier today, Cracker Barrel Old Country Store (NASDAQ:CBRL) reported earnings that were short of analysts' expectations. The company also issued downside guidance. The popular restaurant stock is trading lower by 5.63 percent to $142.27 a share. Traders should note that the stock price is now trading below its important 50- and 200-day moving averages. This puts the stock in a weak technical position on the charts. The stock is also falling below its recent weekly chart pivot-low from late July, which indicates weakness and further downside for the shares. Traders must now watch for support around the $130.00 area. This important support area is where the stock was defended in October 2016. Often, past pivot levels will serve as major support when retested.