REAVES UTILITY INCOME FUND - 1H - Technical analysis published on 05/20/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
22%
33%
44%
My opinion
Bullish above 27.75 USD
My targets
28.69 USD (+1.67%)
30.16 USD (+6.87%)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 27.75 USD remains possible. It is advisable to trade REAVES UTILITY INCOME FUND with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 27.75 USD. The next bullish objective for buyers is set at 28.69 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 30.16 USD. If there is any crossing, the next objective would be the resistance located at 31.11 USD. PS: if there is a bearish break in the support located at 27.75 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.
Force
0
10
3.6
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
REAVES UTILITY INCOME FUND rating 28.22 USD. The price registered a decrease of -0.07% on the session and was traded between 28.18 USD and 28.32 USD over the period. The price is currently at +0.14% from its lowest and -0.35% from its highest.28.18
28.32
28.22
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of REAVES UTILITY INCOME FUND indicates that the overall trend is bullish. 78.57% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near support of channel
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 26.69 | 27.13 | 27.75 | 28.22 | 28.69 | 30.16 | 31.11 |
| Change (%) | -5.42% | -3.86% | -1.67% | - | +1.67% | +6.87% | +10.24% |
| Change | -1.53 | -1.09 | -0.47 | - | +0.47 | +1.94 | +2.89 |
| Level | Major | Minor | Intermediate | - | Major | Minor | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 27.95 | 28.07 | 28.16 | 28.28 | 28.37 | 28.49 | 28.58 |
| Camarilla | 28.18 | 28.20 | 28.22 | 28.24 | 28.26 | 28.28 | 28.30 |
| Woodie | 27.93 | 28.06 | 28.14 | 28.27 | 28.35 | 28.48 | 28.56 |
| Fibonacci | 28.07 | 28.15 | 28.20 | 28.28 | 28.36 | 28.41 | 28.49 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 27.08 | 27.41 | 27.83 | 28.16 | 28.58 | 28.91 | 29.33 |
| Camarilla | 28.03 | 28.10 | 28.17 | 28.24 | 28.31 | 28.38 | 28.45 |
| Woodie | 27.12 | 27.43 | 27.87 | 28.18 | 28.62 | 28.93 | 29.37 |
| Fibonacci | 27.41 | 27.70 | 27.88 | 28.16 | 28.45 | 28.63 | 28.91 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23.28 | 24.09 | 25.09 | 25.90 | 26.90 | 27.71 | 28.71 |
| Camarilla | 25.58 | 25.75 | 25.91 | 26.08 | 26.25 | 26.41 | 26.58 |
| Woodie | 23.37 | 24.14 | 25.18 | 25.95 | 26.99 | 27.76 | 28.80 |
| Fibonacci | 24.09 | 24.79 | 25.21 | 25.90 | 26.60 | 27.02 | 27.71 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 53.65 | |
| MACD (12,26,9): | 0.0400 | |
| Directional Movement: | -2.97 | |
| AROON (14): | -71.43 | |
| DEMA (21): | 28.32 | |
| Parabolic SAR (0,02-0,02-0,2): | 28.41 | |
| Elder Ray (13): | -0.02 | |
| Super Trend (3,10): | 28.09 | |
| Zig ZAG (10): | 28.22 | |
| VORTEX (21): | 0.9700 | |
| Stochastique (14,3,5): | 24.27 | |
| TEMA (21): | 28.23 | |
| Williams %R (14): | -77.78 | |
| Chande Momentum Oscillator (20): | -0.01 | |
| Repulse (5,40,3): | -0.0600 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0400 | |
| Courbe Coppock: | 1.02 |
| MA7: | 28.11 | |
| MA20: | 27.04 | |
| MA50: | 26.45 | |
| MA100: | 26.06 | |
| MAexp7: | 28.25 | |
| MAexp20: | 28.25 | |
| MAexp50: | 28.01 | |
| MAexp100: | 27.56 | |
| Price / MA7: | +0.39% | |
| Price / MA20: | +4.36% | |
| Price / MA50: | +6.69% | |
| Price / MA100: | +8.29% | |
| Price / MAexp7: | -0.11% | |
| Price / MAexp20: | -0.11% | |
| Price / MAexp50: | +0.75% | |
| Price / MAexp100: | +2.39% |
Quotes :
-
15 min delayed data
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NYSE MKT Stocks
News
Don't forget to follow the news on REAVES UTILITY INCOME FUND. At the time of publication of this analysis, the latest news was as follows:
- Reaves Utility Income Fund Section 19(a) Notice
- Reaves Utility Income Fund Announces Regular Monthly Distributions 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
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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