REAVES UTILITY INCOME FUND - 1H - Technical analysis published on 11/20/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
22%
33%
44%
My opinion
Bullish above 25.65 USD
My targets
26.09 USD (+1.08%)
26.34 USD (+2.05%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on REAVES UTILITY INCOME FUND. As long as you are above the support located at 25.65 USD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 26.09 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 26.34 USD as an objective. Crossing it would then enable buyers to target 26.89 USD. If the support 25.65 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
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
The REAVES UTILITY INCOME FUND rating is 25.81 USD. The price is lower by -0.42% since the last closing and was traded between 25.69 USD and 25.94 USD over the period. The price is currently at +0.47% from its lowest and -0.50% from its highest.25.69
25.94
25.81
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by REAVES UTILITY INCOME FUND:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this REAVES UTILITY INCOME FUND chart shows a bullish trend. 78.57% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
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.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish harami
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 24.34 | 24.82 | 25.65 | 25.81 | 26.09 | 26.34 | 26.89 |
| Change (%) | -5.70% | -3.84% | -0.62% | - | +1.08% | +2.05% | +4.18% |
| Change | -1.47 | -0.99 | -0.16 | - | +0.28 | +0.53 | +1.08 |
| Level | Minor | Intermediate | Major | - | Intermediate | Intermediate | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 25.62 | 25.72 | 25.82 | 25.92 | 26.02 | 26.12 | 26.22 |
| Camarilla | 25.87 | 25.88 | 25.90 | 25.92 | 25.94 | 25.96 | 25.98 |
| Woodie | 25.62 | 25.72 | 25.82 | 25.92 | 26.02 | 26.12 | 26.22 |
| Fibonacci | 25.72 | 25.80 | 25.84 | 25.92 | 26.00 | 26.04 | 26.12 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23.69 | 24.21 | 25.06 | 25.58 | 26.43 | 26.95 | 27.80 |
| Camarilla | 25.54 | 25.67 | 25.79 | 25.92 | 26.05 | 26.17 | 26.30 |
| Woodie | 23.87 | 24.29 | 25.24 | 25.66 | 26.61 | 27.03 | 27.98 |
| Fibonacci | 24.21 | 24.73 | 25.05 | 25.58 | 26.10 | 26.42 | 26.95 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21.24 | 22.07 | 23.22 | 24.05 | 25.20 | 26.03 | 27.18 |
| Camarilla | 23.84 | 24.02 | 24.20 | 24.38 | 24.56 | 24.74 | 24.93 |
| Woodie | 21.41 | 22.15 | 23.39 | 24.13 | 25.37 | 26.11 | 27.35 |
| Fibonacci | 22.07 | 22.82 | 23.29 | 24.05 | 24.80 | 25.27 | 26.03 |
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): | 54.30 | |
| MACD (12,26,9): | 0.0700 | |
| Directional Movement: | 0.22 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 25.95 | |
| Parabolic SAR (0,02-0,02-0,2): | 25.91 | |
| Elder Ray (13): | -0.03 | |
| Super Trend (3,10): | 25.57 | |
| Zig ZAG (10): | 25.85 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 32.28 | |
| TEMA (21): | 25.85 | |
| Williams %R (14): | -66.64 | |
| Chande Momentum Oscillator (20): | -0.10 | |
| Repulse (5,40,3): | -0.2800 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0700 | |
| Courbe Coppock: | 0.92 |
| MA7: | 25.56 | |
| MA20: | 24.86 | |
| MA50: | 24.76 | |
| MA100: | 25.56 | |
| MAexp7: | 25.83 | |
| MAexp20: | 25.83 | |
| MAexp50: | 25.59 | |
| MAexp100: | 25.24 | |
| Price / MA7: | +0.98% | |
| Price / MA20: | +3.82% | |
| Price / MA50: | +4.24% | |
| Price / MA100: | +0.98% | |
| Price / MAexp7: | -0.08% | |
| Price / MAexp20: | -0.08% | |
| Price / MAexp50: | +0.86% | |
| Price / MAexp100: | +2.26% |
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 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
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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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