AMZN Breakout Coming
Quasi technical: Amazon is coming into a breakout point. I'd never bet against Amazon long term my current holding is long. Waiting to see which direction it breaks out of the triangle before adding to my long position. If it breaks out down adding shares after a few down days. For what it's worth SimplyWall.St has a fair value for Amazon at $2882.53. With high valuations currently across most good growth stocks, I'd see this as a great long term entry and will be holding this myself into the future. I'd trimmed position in Amazon in the late summer to move into BRK.B, PNC, and JPM so wanting to get back to a 10% allocation for Amazon in my portfolio.
Story: Would stimulus talk push AMZN higher? My thinking is yes. Pfizer my have to spare a few 747's to transport Bezos share of the stimulus money in lieu of the vaccine he is basically guaranteed to get from the purchase of goods. I'm also heavy long on UPS since April when my lobby looked like a brown box storage facility. The sun doesn't rise without multiple delivery drivers scheduled to buzz the door on my 6 flat.
Story: Would stimulus talk push AMZN higher? My thinking is yes. Pfizer my have to spare a few 747's to transport Bezos share of the stimulus money in lieu of the vaccine he is basically guaranteed to get from the purchase of goods. I'm also heavy long on UPS since April when my lobby looked like a brown box storage facility. The sun doesn't rise without multiple delivery drivers scheduled to buzz the door on my 6 flat.
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