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Berger: US energy stocks look set to rally, so I’m buying

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Energy companies in the S&P 500 continue to underperform the broader market. But Serge Berger believes they are set to rally and is looking to buy the energy sector through the XLE ETF.

According to Berger, the XLE ETF has in the past couple of weeks consolidated below its 100-day moving average and a bullish flag pattern has emerged on the charts. He is looking to buy the ETF at USD 69.40 or higher with a stop at USD 67. Berger’s target for the trade is USD 74.