Wal-Mart (WMT) enters convenient store in China

• Company officials said that WMT has entered China’s convenience store market market by opening 3 shops in the city of Shenzhen. 
• “The three shops, are roughly 300 square meters each, and are aimed at providing service to local communities” – Vivi Mou (WMT public relations)

This aligns very well with my perception of WMT’s futures market strategies due largely with the appointment of Mike Duke as CEO now who was previously head of International operations. 

Personally, I am not a very eager WMT investor just yet especially with the new Card Check law being proposed by the government.  But their focus on international expansion may save their profitability from the government’s order of business.

Technicals

Technically the charts still look bearish with the downtrend line still in tact but holding support at the $47.32.  Will look into it for a long term perspective once that trendline is broken.  But this could also pose for a bearish triangle resulting to a huge drop if it falls below $46.00

Source: Reuters