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Uptrend Broken SupportArchive
- 4/5/2024 -
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ONEOK Inc. (OKE) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the ONEOK Inc. (OKE). During the week, the OKE gave back -0.52 points, or -0.65%, and closed at 79.65 on Friday, April 5, 2024. It was the worst weekly loss since February 2, 2024. Weekly volume was -34% below average.
 Long-term trend: [See OKE long-term trend chart]
A long-term uptrend had started on September 26, 2022 at 50.50 and reached 80.81 on April 4, 2024. OKE gained -30.31 points, or -60.02%, in 79 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (65.66) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See OKE medium-term trend chart]
A medium-term uptrend had started on May 17, 2023 at 55.91 and reached 80.81 on April 4, 2024. OKE gained -24.90 points, or -44.54%, in 46 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (69.46) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See OKE weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. 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 February 5, 2024 at 67.05 and reached 80.81 on April 4, 2024. OKE gained -13.76 points, or -20.52%, in 59 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (81.22) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a short-term trend.
 Daily Technical Indicators: [See OKE daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since March 25, 2024. The distance between MACD and the signal line is low, but getting bigger.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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