Investors should stick to defensive stocks and consider making a play on higher bitcoin prices amid ongoing market uncertainty, according to Ari Wald, head of technical analysis at Oppenheimer. Wald joined CNBC’s ” Power Lunch ” on Monday to give his takes on a trio of stocks. Here are the names he spotlighted during the segment. Netflix Wald’s strategy emphasizes staying defensive and is oriented to quality stocks and “sticking with what’s working.” “Netflix is working,” the chart watcher said. “It upheld its 200-day average and inflected higher from there, [displaying] undeniable relative strength. With that said, I don’t think it’s the type of defensive stock that is likely to underperform if we do get a market rally at some point over the coming weeks.” Wald said investors can trade Netflix around the stock’s 50-day moving average at $960 per share. The dominant streaming platform is up 13.6% in the past three months, significantly outperforming the broader market (the S & P 500 is down 14.7%), and last closed at $987.91 a share. Several Wall Street analysts lifted their price targets on Netflix after its latest results soared beyond expectations , reporting on Thursday that its revenue grew 13% in the March quarter. Strategy Wald also pointed to Strategy , formerly MicroStrategy, as a way for traders to capitalize on the price of bitcoin, which he said is holding its fourth-quarter breakout level. MicroStrategy shares trading above $343 would signify the end of a near-term bottom, while shares breaking down below $256 would damage the stock’s trend and signal further downside ahead, Wald said. The stock is ahead 10% in 2025. “This is a play just purely on higher Bitcoin prices from here. I think [it’s] an attractive diversifier,” Wald said. Strategy has been purchasing bitcoin over the past several years and has been trading in sync with bitcoin , the leading cryptocurrency. A higher bitcoin price would therefore raise the value of Strategy’s crypto reserves. EOG Resources Wald has a sell on EOG Resources , betting lower oil prices are in the cards. “I think there’s vulnerability and risk in exploration and production names in particular. If you look at the share price of EOG Resources reversing lower from a multi-year topping pattern, [it’s] really just getting going,” Wald said. “Even at current levels,” the stock presents a “poor risk-reward balance.” The technical analyst said the price of U.S. West Texas Intermediate crude oil has broken below a key support level at $65 a barrel, leaving crude oil and natural gas companies such as EOG more vulnerable. Oil prices are down almost 11% this year as investors remain concerned that tariffs could cause an economic slowdown and hurt demand for fuel at the same time as supply is increasing. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles, and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!