Breakout Stocks of Week 26 @ NYSEMKT
NASDAQ was up last week (week 25) by 0.244% ending at 17,732.60 points after gaining 43.24 points during the week. Our system has detected some possible breakout stocks for the following week and these should be on your watchlist. These are the stocks that are bouncing up with good increase in volume and are likely to do good in short term. One of these stocks are Reaves Utility Income Fund NYSEMKT:UTG. This stock has had a buy signal since Jun 27, 2024 when the price was $27.53 , but have so far fallen -0.763% to $27.32. Some other companies are on our watchlist to, among these are which all got a breakout pattern emerging.
| Date | Company | Price | Change |
|---|---|---|---|
| Reaves Utility Income Fund | $27.32 | $27.32 ( 28th Jun 2024 ) | 0% |
The Reaves Utility Income Fund stock price fell by -0.763% on the last day (Friday, 28th Jun 2024) from $27.53 to $27.32. During the last trading day the stock fluctuated 1.32% from a day low at $27.24 to a day high of $27.60. The price has risen in 5 of the last 10 days but is still down by -1.9% for this period. Volume has increased on the last day by 34 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 378 thousand shares were bought and sold for approximately $10.33 million.
Reaves Utility Income Fund holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About Reaves Utility Income Fund:
Reaves Utility Income Fund is a closed ended balanced mutual fund launched and managed by W. H. Reaves & Company, Inc. The fund invests in public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating in the Utilities sector. The fund primarily invests in dividend paying stocks and debt instruments of companies operating across all market capitalizations. It employs a combination of quantitative and fundamental analysis with bottom-up stock picking approach to create its portfolio. Reaves Utility Income Fund was formed on September 15, 2003 and is domiciled in the United States.
Despite these candidates are looking good from a technical perspective they may not perform as expected. You should always be cautious when trading and base your decisions on more than one source of information. This does not constitute an offer or recommendation to buy or sell securities.
