Time to sell on news for Wal-Mart (WMT) on improved retail sales numbers

News Trigger: Wal-Mart Stores Inc. (WMT)
Current Price: $49.83
RSI: 58.65
MACD: 0.82
Strategy: Sell on News
The Commerce Department said total retail sales jumped 2.7% in August, compared with July's revised decline of 0.2%. Sales excluding autos and auto parts rose 1.1%, compared to a 0.6% decrease in July. The August index got a facelift from the cash for Clunkers program, which was launched on July 27.
However, this does not signal any immediate reason for being bullish on giant retail chain Wal-Mart Stores Inc. (NYSE:WMT), as the retail consumer spending figures continue to stay static and are yet to show any signs of recovery. WMT, currently trading at $49.83, has already lost 0.9% already in today’s session.
WMT has a weak chart, as after staying above moving averages of 50 days and 200 days for long, it has recently shown a trend reversal. WMT is just an ideal candidate to sell on news.