REAVES UTILITY INCOME FUND - Daily - Technical analysis published on 11/15/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Slightly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 24.82 USD
My targets
26.34 USD (+2.09%)
27.40 USD (+6.20%)
My analysis
The strong short-term increase for REAVES UTILITY INCOME FUND reinforces the current slightly bullish trend. As long as the price remains above 24.82 USD, you could take advantage of this bullish acceleration. The first bullish objective is located at 26.34 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 27.40 USD as an objective. Crossing it would then enable buyers to target 28.30 USD. A return to 24.82 USD would be a sign of a possible correction of short-term bullish excesses. In this case, you could stay away while waiting for signals indicating a reversal of the trend.
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
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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 25.80 USD. On the day, this instrument lost -0.88% and was between 25.75 USD and 26.08 USD. This implies that the price is at +0.19% from its lowest and at -1.07% from its highest.25.75
26.08
25.80
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this REAVES UTILITY INCOME FUND chart shows a slightly bullish trend. 60.71% of the signals given by moving averages are bullish. The overall trend could accelerate as strong bullish signals from short-term moving averages are expected. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish trend reversal : Moving Average 50
Type : Bullish
Timeframe : Daily
Bullish trend reversal : adaptative moving average 100
Type : Bullish
Timeframe : Daily
In fact, 15 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
RSI indicator: bearish divergence
Type : Bearish
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish harami
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 23.05 | 24.82 | 25.52 | 25.80 | 26.34 | 27.40 | 28.30 |
| Change (%) | -10.66% | -3.80% | -1.09% | - | +2.09% | +6.20% | +9.69% |
| Change | -2.75 | -0.98 | -0.28 | - | +0.54 | +1.60 | +2.50 |
| Level | Major | Intermediate | Intermediate | - | Intermediate | Intermediate | Minor |
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 | 24.86 | 25.07 | 25.45 | 25.66 | 26.04 | 26.25 | 26.63 |
| Camarilla | 25.68 | 25.73 | 25.79 | 25.84 | 25.89 | 25.95 | 26.00 |
| Woodie | 24.96 | 25.11 | 25.55 | 25.70 | 26.14 | 26.29 | 26.73 |
| Fibonacci | 25.07 | 25.29 | 25.43 | 25.66 | 25.88 | 26.02 | 26.25 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 22.63 | 23.48 | 24.14 | 24.99 | 25.65 | 26.50 | 27.16 |
| Camarilla | 24.38 | 24.51 | 24.65 | 24.79 | 24.93 | 25.07 | 25.21 |
| Woodie | 22.53 | 23.43 | 24.04 | 24.94 | 25.55 | 26.45 | 27.06 |
| Fibonacci | 23.48 | 24.06 | 24.42 | 24.99 | 25.57 | 25.93 | 26.50 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21.23 | 22.06 | 23.22 | 24.05 | 25.21 | 26.04 | 27.20 |
| Camarilla | 23.83 | 24.02 | 24.20 | 24.38 | 24.56 | 24.75 | 24.93 |
| Woodie | 21.40 | 22.14 | 23.39 | 24.13 | 25.38 | 26.12 | 27.37 |
| Fibonacci | 22.06 | 22.82 | 23.29 | 24.05 | 24.81 | 25.28 | 26.04 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 61.86 | |
| MACD (12,26,9): | 0.2500 | |
| Directional Movement: | 11.98 | |
| AROON (14): | 92.86 | |
| DEMA (21): | 25.06 | |
| Parabolic SAR (0,02-0,02-0,2): | 24.59 | |
| Elder Ray (13): | 0.93 | |
| Super Trend (3,10): | 24.30 | |
| Zig ZAG (10): | 25.81 | |
| VORTEX (21): | 1.0100 | |
| Stochastique (14,3,5): | 81.86 | |
| TEMA (21): | 25.46 | |
| Williams %R (14): | -10.44 | |
| Chande Momentum Oscillator (20): | 1.96 | |
| Repulse (5,40,3): | 0.4600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0600 | |
| Courbe Coppock: | 11.30 |
| MA7: | 25.10 | |
| MA20: | 24.54 | |
| MA50: | 24.73 | |
| MA100: | 25.57 | |
| MAexp7: | 25.24 | |
| MAexp20: | 24.83 | |
| MAexp50: | 24.88 | |
| MAexp100: | 25.39 | |
| Price / MA7: | +2.79% | |
| Price / MA20: | +5.13% | |
| Price / MA50: | +4.33% | |
| Price / MA100: | +0.90% | |
| Price / MAexp7: | +2.22% | |
| Price / MAexp20: | +3.91% | |
| Price / MAexp50: | +3.70% | |
| Price / MAexp100: | +1.61% |
Quotes :
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15 min delayed data
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NYSE MKT Stocks
News
The latest news and videos published on REAVES UTILITY INCOME FUND at the time of the analysis were as follows:
- Reaves Utility Income Fund Section 19(a) Notice
- 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
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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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