Does Reaves Utility Income Fund (UTG) Have Any Gas After Forming This Bullish Multiple Top Chart Pattern?

September 17, 2017 - By Kurt Siggers

The stock of Reaves Utility Income Fund (UTG) shows a multiple tops pattern with $36.71 target or 8.00 % above today’s $33.99 share price. The 5 months chart pattern indicates low risk for the $1.17B company. It was reported on Sep, 17 by If the $36.71 price target is reached, the company will be worth $93.60M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.65% or $0.22 on September 15, reaching $33.99. About 96,794 shares traded. Reaves Utility Income Fund (NYSEMKT:UTG) has risen 22.14% since September 17, 2016 and is uptrending. It has outperformed by 5.44% the S&P500.

More notable recent Reaves Utility Income Fund (NYSEMKT:UTG) news were published by: which released: “When Simple Statistics Goes Wrong” on February 10, 2017, also with their article: “Further Thoughts On UTG’s Rights Offering” published on September 11, 2017, published: “Reaves Utility Income Fund: What Do The 2012 And 2015 Rights Offerings Tell Us?” on September 15, 2017. More interesting news about Reaves Utility Income Fund (NYSEMKT:UTG) were released by: and their article: “Every Retiree Should Own This Utility Fund” published on July 14, 2016 as well as‘s news article titled: “10 Reasons Why UTG Is Worth A Look” with publication date: February 19, 2015.

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