Reaves Utility Income Fund Stock Forecast
Green day on Friday for Reaves Utility Income Fund stock after gaining 1.64%
(Updated on Apr 26, 2024)
The Reaves Utility Income Fund stock price gained 1.64% on the last trading day (Friday, 26th Apr 2024), rising from £917.00 to £932.00. During the last trading day the stock fluctuated 2.40% from a day low at £915.00 to a day high of £937.00. The price has been going up and down for this period, and there has been a -0.75% loss for the last 2 weeks. Volume fell on the last day by -325 thousand shares and in total, 771 thousand shares were bought and sold for approximately £718.12 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a narrow and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -8.40% during the next 3 months and, with a 90% probability hold a price between £838.69 and £872.63 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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UTG.L Signals & Forecast
There are mixed signals in the stock today. The Reaves Utility Income Fund stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £946.73. On a fall, the stock will find some support from the short-term average at £924.71. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 1.64%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Reaves Utility Income Fund stock
Reaves Utility Income Fund finds support from accumulated volume at £930.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £22.00 between high and low, or 2.40%. For the last week the stock has had daily average volatility of 1.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UTG.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Reaves Utility Income Fund to open at £928.00, and during the day (based on 14 day Average True Range), to move between £913.99 and £950.01, which gives a possible trading interval of +/-£18.01 (+/-1.93%) up or down from last closing price. If Reaves Utility Income Fund takes out the full calculated possible swing range there will be an estimated 3.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £930.50 (0.16%) than the resistance at £938.50 (0.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Reaves Utility Income Fund stock A Buy?
Reaves Utility Income Fund holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.767 Sell Candidate Unchanged
Predicted Opening Price for Reaves Utility Income Fund of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £928.00 ( 0.429%) | £932.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UTG.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 950.00 | 1.93 % | |
| R2 | 941.60 | 1.03 % | ||
| R1 | 936.40 | 0.473 % | ||
| Current price: | 932.00 | |||
| Support | S1 | 919.60 | -1.33 % | |
| S2 | 914.40 | -1.89 % | ||
| S3 | 906.00 | -2.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 953.00 | 2.25 % | |
| R2 | 950.00 | 1.93 % | ||
| R1 | 938.50 | 0.697 % | ||
| Current price | 932.00 | |||
| Support | S1 | 930.50 | -0.161% | |
| S2 | 922.00 | -1.07% | ||
| S3 | 920.50 | -1.23% |
UTG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | Apr 18, 2024 | May 24, 2024 | £23.60 | 2.53% |
| 2 | Feb 28, 2023 | Apr 13, 2023 | May 26, 2023 | £21.70 | 2.45% |
| 3 | Jul 27, 2022 | Sep 15, 2022 | Oct 28, 2022 | £11.00 | 1.22% |
| 4 | Feb 23, 2022 | Apr 14, 2022 | May 20, 2022 | £15.60 | 1.48% |
| 5 | Jul 27, 2021 | Sep 16, 2021 | Oct 29, 2021 | £6.50 | 0.597% |
FAQ
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