Amazon.com Inc. is planning to open dozens of grocery stores in several major U.S. cities, according to people familiar with the matter, as the retail giant looks to broaden its reach in the food business.
This had the very predictable effect of hitting major grocery-related stocks like Kroger, Target, and Walmart. Instead of trying to bottom-pick one of these names, I decided to take the most direct path and buy Amazon. In addition to this good fundamental news, there was a key technical breakout in Amazon. Click the video below to see my approach.
