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Berger: Why I am buying Facebook

Serge Berger is looking to buy Facebook, because it is one of the few stocks in the market likely to attract attention from fund managers as they look for growth.

Facebook reported earnings on July 30, beating estimates, but leaving investors cold. The stock dropped after the report, but managed to recover most of the losses, according to Berger. So far this year, Facebook stock is up about 20% and holding its 21-day moving average – an important technical level for investors, he says.

This, combined with Facebook’s growth story, makes it attractive for fund managers, Berger says. He is looking to buy the stock at USD 94.50 or higher with a stop at USD 92.50. His target for the trade is USD 100.

01:14 minutes
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