Serge Berger, The Steady Trader Investment Strategist, Talks Facebook Inc And The Coca-Cola Company
Serge Berger, head trader and investment strategist at The Steady Trader, recently joined Benzinga’s #PreMarket Prep show to talk about how Facebook Inc (NASDAQ: FB) and The Coca-Cola Company (NYSE: KO) are looking good relative to the broader market right now.
"Facebook basically just had a series of higher lows coming off of the late-July low, and then really what happened is that it gapped higher after earnings on July 24," Berger said. "And I think that really was sort of the big momentum rush that the stock needed to start really basing at new highs."
The stock had a one-day down move on September 15, where Berger said people had been panicking about social media stocks.
The very next day, it bounced right back near at the 50-day moving average, which he said has been enough to get that stock back higher, despite the market drop over the past few days.
"So, relative strength is really want you want to look at here in this market," he said.
In addition, Berger said the consumer staples sector is also looking good relative to the rest of the market. He said Coca-Cola looks like it wants to push higher.
“Now, I wouldn’t want to get long Coke, say anything below 42.30-42.50, but it’s something I think people can flock to here if they want to do something that’s a little bit more defensive,” he said.
Check out his full interview here:
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