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- 10/23/2020 -
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ONEOK Inc. (OKE)

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Summary:
Weekly :Overbought sector
Daily :Williams' Percentage Range is strongly overboughtStochastic signal line moved below overbought areaLane's Stochastic and MACD bearish divergence20 Day Moving Average has crossed above the 50 Day Moving Average
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It was a first positive week for the ONEOK Inc. (OKE). During the week, the OKE gained 1.65 points, or 5.71%, and closed at 30.55 on Friday, October 23, 2020. Weekly volume was -27% below average.

OKE is a member of Utilities Sector. Utilities is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See OKE long-term trend chart]
A long-term downtrend had started on February 20, 2020 at 78.48 and reached 12.16 on March 18, 2020. OKE lost 66.32 points, or 84.51%, in 3 weeks. The price is now at the 27.73% retracement level.

Medium-term trend: [See OKE medium-term trend chart]
A medium-term uptrend had started on September 24, 2020 at 23.28 and reached 31.03 on October 23, 2020. OKE gained -7.75 points, or -33.29%, in 4 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 30.09 and resistance is at 33.02. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See OKE weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since May 29, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See OKE short-term trend chart]
A short-term uptrend had started on October 19, 2020 at 28.24 and reached 31.03 on October 23, 2020. OKE gained -2.79 points, or -9.88%, in 4 days. The price is now at the 17.20% retracement level.

Daily Technical Indicators: [See OKE daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The daily MACD line is above its signal line since September 28, 2020. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.81
Williams' Percentage Range (W%R) 0.50
Strong Overbought
Lane's Stochastic (%D-Slow) 52.57
Bearish
Greed/Fear Indicator (GFI) 72.64
Moving Average Converg./Diverg. (MACD) 0.56 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.35
Williams' Percentage Range (W%R) 69.20
Lane's Stochastic (%D-Slow) 53.76
Greed/Fear Indicator (GFI) 45.49
Moving Average Converg./Diverg. (MACD) -5.43
Trading Signals
Description Value Chart
Monthly Trendline Resistance 33.02
Upper Bollinger Band 31.66
Price 30.55
Monthly Trendline Support 30.09
Daily Stochastic Crossing 29.83
Parabolic System 28.45
Weekly Stochastic Crossing 28.28
20 Day Moving Average 28.28
50 Day Moving Average 27.49
Lower Bollinger Band 25.45
Sector and Industry
Description Name Rank
Sector Utilities 11
Industry Gas Utilities 16
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 28.24
Low Date 10/19/2020
High 31.03
High Date 10/23/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 28.24
Low Date 10/19/2020
High 31.03
High Date 10/23/2020
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 33.02
Support 30.09
Low 23.28
Low Date 09/24/2020
High 31.03
High Date 10/23/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 48.36
High Date 06/08/2020
Low 23.28
Low Date 09/24/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 78.48
High Date 02/20/2020
Low 12.16
Low Date 03/18/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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