REAVES UTILITY INCOME FUND - Daily - Technical analysis published on 10/25/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
56%
22%
My opinion
Bearish under 25.71 USD
My targets
23.22 USD (-2.48%)
20.06 USD (-15.75%)
My analysis
The bearish trend is currently very strong for REAVES UTILITY INCOME FUND. As long as the price remains below the resistance at 25.71 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 23.22 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 20.06 USD as an objective. Crossing it would then enable sellers to target 17.03 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
7.1
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The REAVES UTILITY INCOME FUND price is 23.81 USD. The price registered a decrease of -0.34% on the session and was between 23.63 USD and 24.04 USD. This implies that the price is at +0.76% from its lowest and at -0.96% from its highest.23.63
24.04
23.81
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of REAVES UTILITY INCOME FUND indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
The Central Indicators scanner found this result concerning these indicators:
Momentum indicator is back under 0
Type : Bearish
Timeframe : Daily
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 17.03 | 20.06 | 23.22 | 23.81 | 25.71 | 26.53 | 27.60 |
| Change (%) | -28.48% | -15.75% | -2.48% | - | +7.98% | +11.42% | +15.92% |
| Change | -6.78 | -3.75 | -0.59 | - | +1.90 | +2.72 | +3.79 |
| Level | Minor | Major | Major | - | Major | Major | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23.13 | 23.35 | 23.62 | 23.84 | 24.11 | 24.33 | 24.60 |
| Camarilla | 23.76 | 23.80 | 23.85 | 23.89 | 23.94 | 23.98 | 24.03 |
| Woodie | 23.16 | 23.36 | 23.65 | 23.85 | 24.14 | 24.34 | 24.63 |
| Fibonacci | 23.35 | 23.54 | 23.65 | 23.84 | 24.03 | 24.14 | 24.33 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 22.35 | 23.11 | 23.53 | 24.29 | 24.71 | 25.47 | 25.89 |
| Camarilla | 23.62 | 23.72 | 23.83 | 23.94 | 24.05 | 24.16 | 24.27 |
| Woodie | 22.17 | 23.03 | 23.35 | 24.21 | 24.53 | 25.39 | 25.71 |
| Fibonacci | 23.11 | 23.56 | 23.84 | 24.29 | 24.74 | 25.02 | 25.47 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21.14 | 22.74 | 23.60 | 25.20 | 26.06 | 27.66 | 28.52 |
| Camarilla | 23.78 | 24.01 | 24.24 | 24.46 | 24.69 | 24.91 | 25.14 |
| Woodie | 20.77 | 22.56 | 23.23 | 25.02 | 25.69 | 27.48 | 28.15 |
| Fibonacci | 22.74 | 23.68 | 24.26 | 25.20 | 26.14 | 26.72 | 27.66 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 39.16 | |
| MACD (12,26,9): | -0.3500 | |
| Directional Movement: | -21.20 | |
| AROON (14): | 42.86 | |
| DEMA (21): | 23.92 | |
| Parabolic SAR (0,02-0,02-0,2): | 25.00 | |
| Elder Ray (13): | -0.39 | |
| Super Trend (3,10): | 25.16 | |
| Zig ZAG (10): | 23.85 | |
| VORTEX (21): | 0.8500 | |
| Stochastique (14,3,5): | 32.65 | |
| TEMA (21): | 23.91 | |
| Williams %R (14): | -61.60 | |
| Chande Momentum Oscillator (20): | -0.24 | |
| Repulse (5,40,3): | -1.4000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.2100 | |
| Courbe Coppock: | 1.44 |
| MA7: | 24.17 | |
| MA20: | 24.18 | |
| MA50: | 25.19 | |
| MA100: | 26.01 | |
| MAexp7: | 24.05 | |
| MAexp20: | 24.40 | |
| MAexp50: | 25.07 | |
| MAexp100: | 25.75 | |
| Price / MA7: | -1.49% | |
| Price / MA20: | -1.53% | |
| Price / MA50: | -5.48% | |
| Price / MA100: | -8.46% | |
| Price / MAexp7: | -1.00% | |
| Price / MAexp20: | -2.42% | |
| Price / MAexp50: | -5.03% | |
| Price / MAexp100: | -7.53% |
Quotes :
-
15 min delayed data
-
NYSE MKT Stocks
News
The last news published on REAVES UTILITY INCOME FUND at the time of the generation of this analysis was as follows:
- Reaves Utility Income Fund Announces Regular Monthly Distribution of $0.19 per Share
- Reaves Utility Income Fund Section 19(a) Notice
- Reaves Utility Income Fund Section 19(a) Notice
- Reaves Utility Income Fund Section 19(a) Notice
- Reaves Utility Income Fund Announces Regular Monthly Distribution of $0.19 per Share
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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