REAVES UTILITY INCOME FUND - Daily - Technical analysis published on 08/16/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 28.75 USD
My targets
30.50 USD (+4.27%)
32.99 USD (+12.79%)
My analysis
The bullish trend is currently very strong on REAVES UTILITY INCOME FUND. As long as the price remains above the support at 28.75 USD, you could try to benefit from the boom. The first bullish objective is located at 30.50 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 32.99 USD as an objective. Crossing it would then enable buyers to target 36.35 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.9
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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 rating is 29.25 USD. The price is lower by -0.58% since the last closing with the lowest point at 29.16 USD and the highest point at 29.35 USD. The deviation from the price is +0.31% for the low point and -0.34% for the high point.29.16
29.35
29.25
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of REAVES UTILITY INCOME FUND in Daily shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 26.17 | 28.12 | 28.75 | 29.25 | 29.57 | 30.50 | 32.99 |
| Change (%) | -10.53% | -3.86% | -1.71% | - | +1.09% | +4.27% | +12.79% |
| Change | -3.08 | -1.13 | -0.50 | - | +0.32 | +1.25 | +3.74 |
| Level | Major | Major | Intermediate | - | Minor | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 28.44 | 28.63 | 28.93 | 29.12 | 29.42 | 29.61 | 29.91 |
| Camarilla | 29.10 | 29.14 | 29.19 | 29.23 | 29.28 | 29.32 | 29.37 |
| Woodie | 28.50 | 28.66 | 28.99 | 29.15 | 29.48 | 29.64 | 29.97 |
| Fibonacci | 28.63 | 28.82 | 28.93 | 29.12 | 29.31 | 29.42 | 29.61 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 27.23 | 27.50 | 27.99 | 28.26 | 28.75 | 29.02 | 29.51 |
| Camarilla | 28.27 | 28.34 | 28.41 | 28.48 | 28.55 | 28.62 | 28.69 |
| Woodie | 27.34 | 27.56 | 28.10 | 28.32 | 28.86 | 29.08 | 29.62 |
| Fibonacci | 27.50 | 27.79 | 27.97 | 28.26 | 28.55 | 28.73 | 29.02 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 25.62 | 26.20 | 27.30 | 27.88 | 28.98 | 29.56 | 30.66 |
| Camarilla | 27.94 | 28.09 | 28.25 | 28.40 | 28.55 | 28.71 | 28.86 |
| Woodie | 25.88 | 26.33 | 27.56 | 28.01 | 29.24 | 29.69 | 30.92 |
| Fibonacci | 26.20 | 26.84 | 27.24 | 27.88 | 28.52 | 28.92 | 29.56 |
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): | 67.73 | |
| MACD (12,26,9): | 0.3600 | |
| Directional Movement: | 23.06 | |
| AROON (14): | 64.29 | |
| DEMA (21): | 28.87 | |
| Parabolic SAR (0,02-0,02-0,2): | 27.93 | |
| Elder Ray (13): | 0.64 | |
| Super Trend (3,10): | 28.20 | |
| Zig ZAG (10): | 29.25 | |
| VORTEX (21): | 1.1000 | |
| Stochastique (14,3,5): | 93.37 | |
| TEMA (21): | 29.01 | |
| Williams %R (14): | -6.27 | |
| Chande Momentum Oscillator (20): | 0.85 | |
| Repulse (5,40,3): | 1.6800 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1400 | |
| Courbe Coppock: | 5.21 |
| MA7: | 28.78 | |
| MA20: | 28.35 | |
| MA50: | 27.77 | |
| MA100: | 27.06 | |
| MAexp7: | 28.86 | |
| MAexp20: | 28.43 | |
| MAexp50: | 27.88 | |
| MAexp100: | 27.19 | |
| Price / MA7: | +1.63% | |
| Price / MA20: | +3.17% | |
| Price / MA50: | +5.33% | |
| Price / MA100: | +8.09% | |
| Price / MAexp7: | +1.35% | |
| Price / MAexp20: | +2.88% | |
| Price / MAexp50: | +4.91% | |
| Price / MAexp100: | +7.58% |
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 Section 19(a) Notice
- Reaves Utility Income Fund Announces Regular Monthly Distributions 0f $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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