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Berger: Walmart set to bounce back

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Steady Trader Serge Berger is looking to buy shares in Walmart, the world’s largest retailer, which he believes is set to bounce back after falling 20% this year.

Berger says the fall in Walmart’s share price combined with a dividend yield of about 2.7% is making stock attractive to institutional buyers. In addition to that, the stock has entered into an area of support, which Berger also sees as a reason to buy.

Berger is looking to buy Walmart at USD 72.90 with a stop at 70.50 and target around 77.