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Berger: How I am trading Bank of America’s earnings

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Steady Trader Serge Berger is looking to buy Bank of America stock when the company reports earnings on Wednesday and here’s why.

According to Berger, net interest margins should be improving for banks like Bank of America, and in general financial companies have some catching up to do with the S&P 500 index. From a technical perspective, the stock also looks attractive after consolidating in recent months. 

Goldman Sachs has Bank of America on its buy list ahead of the results, which are due July 15th. 

Berger is looking to buy the stock after the earnings report either on a move to bottom or top of the range. He will buy between USD 16-17 with a stop at USD 15 and his target is USD 19.