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Berger: Why I am shorting FedEx

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Serge Berger is looking to sell short FedEx stock as the whole transport sector is basically in bear market territory, he says.

FedEx has dropped almost 20% this year alone, according to Berger. He believes that FedEx will be in this downtrend for the medium-term as the transport sector continues to look weak. He is looking to short the stock at USD 136 with a stop at USD 140 and his target for the trade is USD 140.