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REAVES UTILITY INCOME FUND
REAVES UTILITY INCOME FUND
- USD (-)
- 15 min delayed data - NYSE MKT Stocks
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: ETF
Ticker: UTG
ISIN:

REAVES UTILITY INCOME FUND - 1H - Technical analysis published on 07/29/2024 (GMT)

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  • Timeframe : 1H
  • - Analysis generated on
  • Status : TARGET REACHED

Summary of the analysis

Trends
Short term: Bullish
Underlying: Bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 27.83 USD
My targets
28.31 USD (+0.60%)
28.56 USD (+1.49%)
My analysis
A bullish trend on REAVES UTILITY INCOME FUND both in substance and in the short term. A purchase could be considered as long as the price remains above 27.83 USD. Each resistance break is a strong signal that the current trend will continue. The first bullish objective would be 28.31 USD. Then the price could move towards 28.56 USD. Then 29.76 USD by extension. Be careful, a return below 27.83 USD would be a sign of the trend weakening and a possible correction phase could then occur. In this case, you could keep away while waiting for a signal that the basic trend will resume. Trading against the trend could be riskier.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
5.4

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

Londinia
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

The REAVES UTILITY INCOME FUND price is 28.14 USD. On the day, this instrument gained +0.82% with the lowest point at 28.07 USD and the highest point at 28.19 USD. The deviation from the price is +0.25% for the low point and -0.18% for the high point.

28.07
28.19
28.14

The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.

Central Gaps

Opening Gap UP

Type : Bullish

Timeframe : Openning



So that you have an overall view of the price change, here is a table showing the variations over several periods:
The study of the highest / lowest by the Central Records scanner shows the following results:

Central Records

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 LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


A technical analysis in 1H of this REAVES UTILITY INCOME FUND chart shows a bullish trend. 64.29% of the signals given by moving averages are bullish. The overall trend seems to be showing some signs of weakness, as do the tentative bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

The Central Indicators scanner found this result concerning these indicators:

Central Indicators

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : 1 hour



The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:

Central Patterns

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour


Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour



The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 27.59 27.83 28.06 28.14 28.31 28.56 29.76
Change (%) -1.95% -1.10% -0.28% - +0.60% +1.49% +5.76%
Change -0.55 -0.31 -0.08 - +0.17 +0.42 +1.62
Level Minor Minor Minor - Major Intermediate Minor



Attention could also be paid to pivot points to set price objectives:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard27.6927.7627.8427.9127.9928.0628.14
Camarilla27.8727.8827.9027.9127.9227.9427.95
Woodie27.6927.7627.8427.9127.9928.0628.14
Fibonacci27.7627.8227.8627.9127.9728.0128.06


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard27.1627.5027.7028.0428.2428.5828.78
Camarilla27.7627.8127.8627.9127.9628.0128.06
Woodie27.1027.4727.6428.0128.1828.5528.72
Fibonacci27.5027.7027.8328.0428.2428.3728.58


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard25.6726.3326.7427.4027.8128.4728.88
Camarilla26.8526.9427.0427.1427.2427.3427.43
Woodie25.5426.2726.6127.3427.6828.4128.75
Fibonacci26.3326.7427.0027.4027.8128.0728.47

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): 56.62
MACD (12,26,9): -0.0100
Directional Movement: 6.73
AROON (14): 64.29
DEMA (21): 28.01
Parabolic SAR (0,02-0,02-0,2): 27.86
Elder Ray (13): 0.09
Super Trend (3,10): 27.87
Zig ZAG (10): 28.14
VORTEX (21): 0.8500
Stochastique (14,3,5): 85.28
TEMA (21): 28.04
Williams %R (14): -16.67
Chande Momentum Oscillator (20): 0.22
Repulse (5,40,3): -0.0700
ROCnROLL: 1
TRIX (15,9): -0.0300
Courbe Coppock: 0.54
MA7: 28.12
MA20: 27.83
MA50: 27.66
MA100: 26.81
MAexp7: 28.08
MAexp20: 28.04
MAexp50: 28.08
MAexp100: 27.99
Price / MA7: +0.07%
Price / MA20: +1.11%
Price / MA50: +1.74%
Price / MA100: +4.96%
Price / MAexp7: +0.21%
Price / MAexp20: +0.36%
Price / MAexp50: +0.21%
Price / MAexp100: +0.54%

Quotes : - 15 min delayed data - 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:

This member declared not having a position on this financial instrument or a related financial instrument.

About author

Londinia
Londinia AI

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