REAVES UTILITY INCOME FUND - 1H - Technical analysis published on 02/15/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Neutral
Technical indicators
89%
6%
6%
My opinion
Bullish above 25.23 USD
My targets
26.44 USD (+2.68%)
26.80 USD (+4.08%)
My analysis
The current short-term bullish acceleration on REAVES UTILITY INCOME FUND should quickly allow the basic trend to return to bullish. To avoid contradicting the short term, traders may prefer long positions (at the time of purchase) as long as the price remains well above 25.23 USD. Short-term buyers will use the resistance located at 26.44 USD as an objective. A bullish break in this resistance would boost the bullish momentum. The next bullish objective would then be set at 26.80 USD. Crossing this resistance would then open the door for buyers to target 27.24 USD. Caution, if there is a return to under 25.23 USD, it should not be forgotten that the basic trend is not yet clearly defined. Beware of against the trend sellers, many of whom will certainly benefit from this movement.
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
3.8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The REAVES UTILITY INCOME FUND price is 25.75 USD. The price is lower by -0.23% since the last closing and was between 25.61 USD and 25.82 USD. This implies that the price is at +0.55% from its lowest and at -0.27% from its highest.25.61
25.82
25.75
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
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 neutral trend. The strong bullish signals currently being given by short-term moving averages could allow the overall trend to return to bullish. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 16 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 24.27 | 24.73 | 25.23 | 25.75 | 25.76 | 26.44 | 26.80 |
| Change (%) | -5.75% | -3.96% | -2.02% | - | +0.04% | +2.68% | +4.08% |
| Change | -1.48 | -1.02 | -0.52 | - | +0.01 | +0.69 | +1.05 |
| Level | Minor | Minor | Intermediate | - | Major | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 25.23 | 25.33 | 25.47 | 25.57 | 25.71 | 25.81 | 25.95 |
| Camarilla | 25.54 | 25.57 | 25.59 | 25.61 | 25.63 | 25.65 | 25.68 |
| Woodie | 25.25 | 25.34 | 25.49 | 25.58 | 25.73 | 25.82 | 25.97 |
| Fibonacci | 25.33 | 25.42 | 25.48 | 25.57 | 25.66 | 25.72 | 25.81 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 24.21 | 24.79 | 25.11 | 25.69 | 26.01 | 26.59 | 26.91 |
| Camarilla | 25.18 | 25.27 | 25.35 | 25.43 | 25.51 | 25.60 | 25.68 |
| Woodie | 24.08 | 24.73 | 24.98 | 25.63 | 25.88 | 26.53 | 26.78 |
| Fibonacci | 24.79 | 25.13 | 25.35 | 25.69 | 26.03 | 26.25 | 26.59 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23.86 | 24.80 | 25.42 | 26.36 | 26.98 | 27.92 | 28.54 |
| Camarilla | 25.61 | 25.75 | 25.90 | 26.04 | 26.18 | 26.33 | 26.47 |
| Woodie | 23.70 | 24.72 | 25.26 | 26.28 | 26.82 | 27.84 | 28.38 |
| Fibonacci | 24.80 | 25.40 | 25.76 | 26.36 | 26.96 | 27.32 | 27.92 |
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): | 61.29 | |
| MACD (12,26,9): | 0.0400 | |
| Directional Movement: | 9.49 | |
| AROON (14): | 92.86 | |
| DEMA (21): | 25.60 | |
| Parabolic SAR (0,02-0,02-0,2): | 25.37 | |
| Elder Ray (13): | 0.16 | |
| Super Trend (3,10): | 25.37 | |
| Zig ZAG (10): | 25.75 | |
| VORTEX (21): | 1.0500 | |
| Stochastique (14,3,5): | 92.37 | |
| TEMA (21): | 25.69 | |
| Williams %R (14): | -10.40 | |
| Chande Momentum Oscillator (20): | 0.33 | |
| Repulse (5,40,3): | 0.6000 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 1.31 |
| MA7: | 25.59 | |
| MA20: | 25.89 | |
| MA50: | 26.28 | |
| MA100: | 25.29 | |
| MAexp7: | 25.65 | |
| MAexp20: | 25.58 | |
| MAexp50: | 25.62 | |
| MAexp100: | 25.78 | |
| Price / MA7: | +0.63% | |
| Price / MA20: | -0.54% | |
| Price / MA50: | -2.02% | |
| Price / MA100: | +1.82% | |
| Price / MAexp7: | +0.39% | |
| Price / MAexp20: | +0.66% | |
| Price / MAexp50: | +0.51% | |
| Price / MAexp100: | -0.12% |
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 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
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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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