REAVES UTILITY INCOME FUND - 1H - Technical analysis published on 11/01/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Slightly bearish
Technical indicators
39%
22%
39%
My opinion
Bearish under 32.97 USD
My targets
32.30 USD (-0.58%)
31.62 USD (-2.68%)
My analysis
The bearish trend is truly tentative and does not seem to be supported in the short term. It is advisable to trade REAVES UTILITY INCOME FUND with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 32.97 USD. The next bearish objective for sellers is set at 32.30 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 31.62 USD. In case of crossing, the next objective would be the support located at 31.23 USD. In the event of a bullish break in the resistance located at 32.97 USD a certain indecision would take hold.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
1.6
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
REAVES UTILITY INCOME FUND rating 32.49 USD. The price is lower by -0.09% since the last closing and was traded between 32.49 USD and 32.90 USD over the period. The price is currently at 0% from its lowest and -1.25% from its highest.32.49
32.90
32.49
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
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 HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of REAVES UTILITY INCOME FUND indicates that the overall trend is slightly bearish. 57.14% of the signals given by moving averages are bearish. This bearish trend does not seem to be increasing given the slightly bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Other results related to technical indicators were also found by the Central Indicators scanner:
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near support of triangle
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 | 31.23 | 31.62 | 32.30 | 32.49 | 32.61 | 32.97 | 35.93 |
| Change (%) | -3.88% | -2.68% | -0.58% | - | +0.37% | +1.48% | +10.59% |
| Change | -1.26 | -0.87 | -0.19 | - | +0.12 | +0.48 | +3.44 |
| Level | Major | Minor | Intermediate | - | Major | 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 | 31.94 | 32.22 | 32.35 | 32.63 | 32.76 | 33.04 | 33.17 |
| Camarilla | 32.38 | 32.42 | 32.45 | 32.49 | 32.53 | 32.57 | 32.60 |
| Woodie | 31.88 | 32.18 | 32.29 | 32.59 | 32.70 | 33.00 | 33.11 |
| Fibonacci | 32.22 | 32.37 | 32.47 | 32.63 | 32.78 | 32.88 | 33.04 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 31.82 | 32.17 | 32.41 | 32.76 | 33.00 | 33.35 | 33.59 |
| Camarilla | 32.50 | 32.55 | 32.61 | 32.66 | 32.71 | 32.77 | 32.82 |
| Woodie | 31.78 | 32.14 | 32.37 | 32.73 | 32.96 | 33.32 | 33.55 |
| Fibonacci | 32.17 | 32.39 | 32.53 | 32.76 | 32.98 | 33.12 | 33.35 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 29.43 | 30.28 | 31.40 | 32.25 | 33.37 | 34.22 | 35.34 |
| Camarilla | 31.98 | 32.16 | 32.34 | 32.52 | 32.70 | 32.88 | 33.06 |
| Woodie | 29.57 | 30.35 | 31.54 | 32.32 | 33.51 | 34.29 | 35.48 |
| Fibonacci | 30.28 | 31.03 | 31.50 | 32.25 | 33.00 | 33.47 | 34.22 |
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): | 49.30 | |
| MACD (12,26,9): | -0.0100 | |
| Directional Movement: | -0.99 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 32.58 | |
| Parabolic SAR (0,02-0,02-0,2): | 32.51 | |
| Elder Ray (13): | -0.04 | |
| Super Trend (3,10): | 32.82 | |
| Zig ZAG (10): | 32.58 | |
| VORTEX (21): | 0.9700 | |
| Stochastique (14,3,5): | 48.95 | |
| TEMA (21): | 32.60 | |
| Williams %R (14): | -66.04 | |
| Chande Momentum Oscillator (20): | 0.15 | |
| Repulse (5,40,3): | -0.9700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 1.12 |
| MA7: | 32.63 | |
| MA20: | 32.37 | |
| MA50: | 31.53 | |
| MA100: | 29.57 | |
| MAexp7: | 32.61 | |
| MAexp20: | 32.61 | |
| MAexp50: | 32.64 | |
| MAexp100: | 32.56 | |
| Price / MA7: | -0.43% | |
| Price / MA20: | +0.37% | |
| Price / MA50: | +3.04% | |
| Price / MA100: | +9.87% | |
| Price / MAexp7: | -0.37% | |
| Price / MAexp20: | -0.37% | |
| Price / MAexp50: | -0.46% | |
| Price / MAexp100: | -0.21% |
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 Distributions 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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