Reaves Utility Income Fund Stock Forecast
Red day on Wednesday for Reaves Utility Income Fund
(Updated on May 01, 2024)
The Reaves Utility Income Fund stock price fell by -0.114% on the last day (Wednesday, 1st May 2024) from $26.26 to $26.23. During the last trading day the stock fluctuated 1.29% from a day low at $26.11 to a day high of $26.45. The price has been going up and down for this period, and there has been a 1.55% gain for the last 2 weeks. Volume has increased on the last day by 14 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, 275 thousand shares were bought and sold for approximately $7.20 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Reaves Utility Income Fund stock with a 90% probability to be traded between $25.94 and $27.53 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
UTG Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Reaves Utility Income Fund stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $26.26 and $26.37. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -0.380%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Reaves Utility Income Fund stock
Reaves Utility Income Fund finds support from accumulated volume at $26.16 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 $0.337 between high and low, or 1.29%. For the last week the stock has had daily average volatility of 1.04%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UTG) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Reaves Utility Income Fund to open at $26.26, and during the day (based on 14 day Average True Range), to move between $25.93 and $26.53, which gives a possible trading interval of +/-$0.297 (+/-1.13%) 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 2.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $26.16 (0.27%) than the resistance at $26.46 (0.88%), 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 is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.049 Sell Candidate Unchanged
Predicted Opening Price for Reaves Utility Income Fund of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $26.26 ( 0.123%) | $26.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UTG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.60 | 1.41 % | |
| R2 | 26.47 | 0.92 % | ||
| R1 | 26.39 | 0.613 % | ||
| Current price: | 26.23 | |||
| Support | S1 | 26.13 | -0.367 % | |
| S2 | 26.05 | -0.670 % | ||
| S3 | 25.93 | -1.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.96 | 2.78 % | |
| R2 | 26.89 | 2.52 % | ||
| R1 | 26.46 | 0.88 % | ||
| Current price | 26.23 | |||
| Support | S1 | 26.16 | -0.267% | |
| S2 | 25.81 | -1.60% | ||
| S3 | 25.70 | -2.02% |
UTG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 05, 2024 | Jun 17, 2024 | Jun 28, 2024 | $0.190 | 0.724% |
| 2 | Apr 05, 2024 | May 16, 2024 | May 31, 2024 | $0.190 | 0.724% |
| 3 | Apr 05, 2024 | Apr 18, 2024 | Apr 30, 2024 | $0.190 | 0.724% |
| 4 | Dec 15, 2023 | Mar 14, 2024 | Mar 28, 2024 | $0.190 | 0.705% |
| 5 | Dec 15, 2023 | Feb 15, 2024 | Feb 29, 2024 | $0.190 | 0.726% |
FAQ
Click here for our free guide on how to buy Reaves Utility Income Fund Stock.
