REAVES UTILITY INCOME FUND - 1H - Technical analysis published on 09/06/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
67%
6%
28%
My opinion
Bullish above 29.81 USD
My targets
30.50 USD (+1.16%)
30.77 USD (+2.05%)
My analysis
REAVES UTILITY INCOME FUND is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 29.81 USD. The next resistance located at 30.50 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 30.77 USD. After this resistance, buyers could then target 32.99 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. 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
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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 30.15 USD. On the day, this instrument lost -0.03% and was traded between 30.08 USD and 30.29 USD over the period. The price is currently at +0.23% from its lowest and -0.46% from its highest.30.08
30.29
30.15
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 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
The technical indicators are bullish. There is still some doubt about the price increase.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
Near resistance of triangle
Type : Bearish
Timeframe : 1 hour
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 | 28.75 | 29.57 | 29.81 | 30.15 | 30.24 | 30.50 | 32.99 |
| Change (%) | -4.64% | -1.92% | -1.13% | - | +0.30% | +1.16% | +9.42% |
| Change | -1.40 | -0.58 | -0.34 | - | +0.09 | +0.35 | +2.84 |
| Level | Intermediate | Minor | Minor | - | Intermediate | 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 | 29.94 | 30.01 | 30.08 | 30.15 | 30.22 | 30.29 | 30.36 |
| Camarilla | 30.12 | 30.13 | 30.15 | 30.16 | 30.17 | 30.19 | 30.20 |
| Woodie | 29.95 | 30.01 | 30.09 | 30.15 | 30.23 | 30.29 | 30.37 |
| Fibonacci | 30.01 | 30.06 | 30.09 | 30.15 | 30.20 | 30.23 | 30.29 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 29.27 | 29.47 | 29.77 | 29.97 | 30.27 | 30.47 | 30.77 |
| Camarilla | 29.92 | 29.97 | 30.01 | 30.06 | 30.11 | 30.15 | 30.20 |
| Woodie | 29.31 | 29.50 | 29.81 | 30.00 | 30.31 | 30.50 | 30.81 |
| Fibonacci | 29.47 | 29.66 | 29.78 | 29.97 | 30.16 | 30.28 | 30.47 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 26.08 | 26.93 | 28.49 | 29.34 | 30.90 | 31.75 | 33.31 |
| Camarilla | 29.40 | 29.62 | 29.84 | 30.06 | 30.28 | 30.50 | 30.72 |
| Woodie | 26.45 | 27.11 | 28.86 | 29.52 | 31.27 | 31.93 | 33.68 |
| Fibonacci | 26.93 | 27.85 | 28.42 | 29.34 | 30.26 | 30.83 | 31.75 |
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): | 56.47 | |
| MACD (12,26,9): | 0.0400 | |
| Directional Movement: | 2.94 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 30.15 | |
| Parabolic SAR (0,02-0,02-0,2): | 29.97 | |
| Elder Ray (13): | 0.03 | |
| Super Trend (3,10): | 29.89 | |
| Zig ZAG (10): | 30.18 | |
| VORTEX (21): | 0.9500 | |
| Stochastique (14,3,5): | 74.17 | |
| TEMA (21): | 30.14 | |
| Williams %R (14): | -36.37 | |
| Chande Momentum Oscillator (20): | 0.24 | |
| Repulse (5,40,3): | -0.1800 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.95 |
| MA7: | 30.06 | |
| MA20: | 29.55 | |
| MA50: | 28.49 | |
| MA100: | 27.63 | |
| MAexp7: | 30.13 | |
| MAexp20: | 30.10 | |
| MAexp50: | 30.00 | |
| MAexp100: | 29.74 | |
| Price / MA7: | +0.30% | |
| Price / MA20: | +2.03% | |
| Price / MA50: | +5.83% | |
| Price / MA100: | +9.12% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | +0.17% | |
| Price / MAexp50: | +0.50% | |
| Price / MAexp100: | +1.38% |
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:
- Reaves Utility Income Fund Section 19(a) Notice
- 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
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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