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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: