REAVES UTILITY INCOME FUND - Daily - Technical analysis published on 01/19/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bullish
Technical indicators
17%
44%
39%
My opinion
Bearish under 27.02 USD
My targets
25.30 USD (-3.44%)
24.46 USD (-6.64%)
My analysis
The strong short-term decline in REAVES UTILITY INCOME FUND calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 27.02 USD, one could consider taking advantage of the short-term movement. The first bearish objective is located at 25.30 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 24.46 USD as an objective. Crossing it would then enable sellers to target 23.76 USD. Be careful, a return to above 27.02 USD could jeopardize the reversal.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
1.3
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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 26.20 USD. The price has increased by +0.50% since the last closing and was traded between 26.08 USD and 26.28 USD over the period. The price is currently at +0.46% from its lowest and -0.30% from its highest.26.08
26.28
26.20
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 (1st january)
Type : Bullish
Timeframe : Weekly
Near a 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. 57.14% of the signals given by moving averages are bullish. Caution: a reversal of the trend could be possible given the strong bearish signals of short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish trend reversal : adaptative moving average 50
Type : Bearish
Timeframe : Daily
An assessment of technical indicators shows a slightly bearish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish harami
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 24.46 | 25.30 | 25.96 | 26.20 | 26.52 | 27.02 | 27.47 |
| Change (%) | -6.64% | -3.44% | -0.92% | - | +1.22% | +3.13% | +4.85% |
| Change | -1.74 | -0.90 | -0.24 | - | +0.32 | +0.82 | +1.27 |
| Level | Minor | Intermediate | Major | - | Intermediate | Major | Major |
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 | 25.53 | 25.77 | 25.92 | 26.16 | 26.31 | 26.55 | 26.70 |
| Camarilla | 25.96 | 26.00 | 26.03 | 26.07 | 26.11 | 26.14 | 26.18 |
| Woodie | 25.49 | 25.75 | 25.88 | 26.14 | 26.27 | 26.53 | 26.66 |
| Fibonacci | 25.77 | 25.92 | 26.01 | 26.16 | 26.31 | 26.40 | 26.55 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 25.76 | 26.26 | 26.52 | 27.02 | 27.28 | 27.78 | 28.04 |
| Camarilla | 26.58 | 26.65 | 26.72 | 26.79 | 26.86 | 26.93 | 27.00 |
| Woodie | 25.65 | 26.20 | 26.41 | 26.96 | 27.17 | 27.72 | 27.93 |
| Fibonacci | 26.26 | 26.55 | 26.73 | 27.02 | 27.31 | 27.49 | 27.78 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 24.30 | 25.16 | 25.95 | 26.81 | 27.60 | 28.46 | 29.25 |
| Camarilla | 26.29 | 26.44 | 26.59 | 26.74 | 26.89 | 27.04 | 27.19 |
| Woodie | 24.27 | 25.14 | 25.92 | 26.79 | 27.57 | 28.44 | 29.22 |
| Fibonacci | 25.16 | 25.79 | 26.18 | 26.81 | 27.44 | 27.83 | 28.46 |
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): | 42.18 | |
| MACD (12,26,9): | 0.0500 | |
| Directional Movement: | -12.00 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 26.85 | |
| Parabolic SAR (0,02-0,02-0,2): | 27.43 | |
| Elder Ray (13): | -0.51 | |
| Super Trend (3,10): | 27.21 | |
| Zig ZAG (10): | 26.24 | |
| VORTEX (21): | 0.9100 | |
| Stochastique (14,3,5): | 11.45 | |
| TEMA (21): | 26.59 | |
| Williams %R (14): | -86.00 | |
| Chande Momentum Oscillator (20): | -0.80 | |
| Repulse (5,40,3): | -1.4300 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.1200 | |
| Courbe Coppock: | 0.02 |
| MA7: | 26.65 | |
| MA20: | 26.77 | |
| MA50: | 26.26 | |
| MA100: | 25.36 | |
| MAexp7: | 26.54 | |
| MAexp20: | 26.69 | |
| MAexp50: | 26.27 | |
| MAexp100: | 25.93 | |
| Price / MA7: | -1.69% | |
| Price / MA20: | -2.13% | |
| Price / MA50: | -0.23% | |
| Price / MA100: | +3.31% | |
| Price / MAexp7: | -1.28% | |
| Price / MAexp20: | -1.84% | |
| Price / MAexp50: | -0.27% | |
| Price / MAexp100: | +1.04% |
Quotes :
-
15 min delayed data
-
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 Section 19(a) Notice
- Reaves Utility Income Fund Announces Regular Monthly Distributions Of $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
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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