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Berger: Buying JP Morgan ahead of a bounce

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Serge Berger believes equity markets may soon bounce back from oversold levels and is looking to buy shares in JP Morgan.

US equities recovered on Friday after yet another week of selling as investors worry about the outlook for the global economy. Berger says JP Morgan is one of the stocks appearing to be oversold, but that could offer a buying opportunity ahead of any bounce in the markets.

Berger is looking to buy at USD 57.20 with a target for his trade at 60 and a stop loss at 55.30.