We're Locking in a Double-Digit Gain on This Holding
The strong run and overbought condition have us downgrading our rating as well.
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The Scent of Opportunity: We're Buying More of This Stock
| Symbol | Transaction Type | # Shares Traded | Recent Price $ | Shares Owned After Trade | % Portfolio |
|---|---|---|---|---|---|
WM | Sell | 105 | 245.50 | 795 | 3.70 |
After you receive this Alert, we will sell 105 shares of Waste Management (WM) at or near $245.50. Following the trade, WM shares will account for roughly 3.7% of the Pro Portfolio's assets.
Following the more than 25% rise off its November lows compared to a 2% increase for the S&P 500, we are locking in a slice of that outperformance, a move that will help lift the Portfolio’s cash position.
As we make this trade, we’ll note the current overbought condition in WM shares given their RSI reading of 72.09, but also the proximity to our $255 target. That combination is leading us to downgrade WM shares to a Two rating from One. We hinted such a move could be coming in our February Monthly Roundup, and the subsequent move in the shares is leading us to execute it.
More Pro Portfolio:
- Exiting One Position and Initiating Another as We Become More Defensive
- 25 Signals Across 9 Investing Themes
- Weekly Roundup: S&P Drops 2%, Portfolio Barely Blinks. Here's Why.
(Please note that we are looking to execute these trades at or near the share price mentioned above. Once the trade is completed, subscribers can see the trade's executed price here. Be sure to toggle the chart to sort by Purchase Date.)
At the time of publication, TheStreet Pro Portfolio was long WM.
