200-Day Moving Average Strategy

How should investors handle the market in 2024? Let the 200-day moving average guide you, says Dan Rawitch, a long-time trader and the founder of the University of Options, in a new episode of the Early Bird podcast.

Background: A moving average is essentially the average closing price of a stock (or an entire market) in a certain period. Rawitch said that traders often look at the 5-day moving average, whereas investors in for the long haul may want to look at the 50-day or 200-day moving average.

Zooming In: The 200-day moving average is key to determining a good or bad market, says Rawitch.

Details: When the 50-day moving average of the market overtakes the 200-day moving average, that’s called a golden cross and it’s a sign of a bull market. When the 50-day moving average of the market falls under the 200-day moving average, that’s called a death cross and it’s a sign of a bear market.

Final Thoughts: How should investors use the 200-day moving average in 2024? Furthermore, what does the 200-day moving average tell us about the state of the market? Find out by listening to a new episode of the Early Bird podcast.

Notables

Notable Earnings Today: Goldman Sachs (NYSE: GS), Interactive Brokers (Nasdaq: IBKR), Morgan Stanley (NYSE: MS), Progress Software (Nasdaq: PRGS), Hancock Whitney (Nasdaq: HWC), PNC (NYSE: PNC), Calavo Growers (Nasdaq: CVGW), Fulton Financial (Nasdaq: FULT), Pinnacle Financial Partners (Nasdaq: PNFP), Applied Digital (Nasdsaq: APLD), Mercantile Bank (Nasdaq: MBWM), FB Financial (NYSE: FBK), Guaranty Bancshares (NYSE: GNTY).

Notable IPOs Today: N/A.

Notable Equity Crowdfunding Campaigns Ending Today: Interlock (Republic), Runner City (Wefunder), Concessions (Wefunder), Galactic Annihilation (StartEngine), Stoner's Haven (Mainvest).

Notable Economic Events Today: NY Empire State Manufacturing Index (8:30 a.m. ET).

Deere Partners With Elon Musk

Photo by Scott Goodwill on Unsplash

Deere & Company (NYSE: DE), which is the agricultural company known as John Deere, wants to connect equipment in rural areas to the company’s digital products through a new partnership with Elon Musk’s SpaceX.

Detail: The Wall Street Journal reported on Monday that Deere will use SpaceX’s satellite fleet to boost its digital farming push for automation in agriculture.

Stock Price: Deere’s stock is down 11% in the past year, but up less than 1% in the last 30 days.

Final Thoughts: This reported partnership can only help Deere’s operations. Mixed earnings have hurt the stock, and while a recently announced higher dividend is a nice start, the company needs more good news.

Uber Shuts Down Alcohol Delivery App

Uber (NYSE: UBER) is making a change to its beverage delivery business, according to a new report.

Details: Axios reported on Monday that Uber is shutting down Drizly, the alcohol delivery service where users can order booze for delivery through an app.

Stock Price: Uber is up about 8% in the past 12 months.

Final Thoughts: It’s a bit odd that Uber is shutting Drizly after acquiring the business for $1.1 billion three years ago, but the company needs to cut costs.