MarketAlly

Amazon Multiple Sector Impact Weakness into Summer

NASDAQ:AMZN   AMAZON COM INC
114 3 1
While an initial rise is expected, I would look to build a short around 356-360 - as Amazon receives multiple sectors of revenue under attack especially from Google/Microsoft on the Cloud sector, small measurable decrease revenue from Amazon Prime renewals from price increase, and possible product launch issues around the new set-top box if it is not well received in an already crowded sector.

At point it reaches 310-300 range - It will look attractive to acquire for the Christmas run up - although I would be careful through mid-June to August time frame.

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Added position at 313 - missed the 309 but will look to add if we dip into 303
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Given the weakness - I am considering nibbling long at 309ish
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