4 Holdings to Watch Closely in Pursuit of Opportunity

Last Friday, in our discussion for the Wells Fargo downgrade of Netflix (NFLX) shares, we indicated that we would be closely watching them relative to the 200-day moving average on the weekly chart.

As you can see above, so far, NFLX shares are holding their own but we’ll want to see where they close on Monday to confirm a positive test of that support level.

Also on Friday, when we added to the Portfolio’s position in TJX (TJX) shares, we added shares of heavy truck company Paccar (PCAR) to our shopping list.

The added move lower on Monday morning has served to push them into an even deeper oversold condition on the dally chart. But similar to Netflix shares, with Paccar we are looking to see if the shares can deliver a positive test of their 50-day moving average on the weekly chart seen below:

The third holding that we are keeping a close watch on are the shares Waste Management (WM), which have gotten beaten up recently as part of the diesel price conversation. However, back in 2023, Waste switched to an energy surcharge that is tied to changes in the price of diesel and compressed natural gas, which powers most of its collection fleet. The energy surcharge fluctuates up or down based upon changes in the reported prices of diesel fuel and/or natural gas, as reported by the U.S. Department of Energy in its weekly diesel price index and by the Henry Hub spot price index for natural gas.

During Waste’s Q2 2026 earnings call, management shared that it saw $175 million in higher energy purchasers for the year, and odds are that, given the climb in diesel prices since then, that number has moved higher as well. At the same time, let’s consider that Waste not only continues to wring out cost synergies with the healthcare business, but it is still converting its residential fleet to automated side loader trucks. At last check, the company was around two-thirds of the way through converting its residential fleet to automated side-loader trucks.

That combination has us closely monitoring WM shares and their technical set up as well. So far, the shares are not oversold, but should see that rare condition happen like we did once last year and in late 2024, it would be a compelling risk to reward opportunity.

Finally, we are seeing the shares of Meta Platforms (META) push into a deeper overbought condition ahead of the company’s Meta Connect event on Wednesday and Thursday. Compared to the $540 level in mid August, the 32% move has been a sharp one. On Monday, it’s being helped along by the price target increase to $796 over at Wells Fargo from $640 and weekend news that its Muse AI overtook ChatGPT as a a top iPhone app on the free U.S. app store. When CEO Mark Zuckerberg talks on Wednesday, one of the things we’ll be looking to see is how he positions the new Muse but also how he discusses privacy and trust issues.

Ahead of those potential comments, given our position as prudent investors, should we see META shares push into an even deeper overbought condition, given our position size, we may opt to lock in some of those relatively quick gains.

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At the time of publication, TheStreet Pro Portfolio was long META, NFLX, PCAR, TJX, and WM.