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Archive
- 12/20/2024 -
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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 dropped -3.90 points, or -3.75%, and closed at 100.10 on Friday, December 20, 2024. Weekly volume was 71% above 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 118.10 on November 22, 2024. OKE gained -67.60 points, or -133.86%, in 112 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (72.62) 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 118.10 on November 22, 2024. OKE gained -62.19 points, or -111.23%, in 79 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (84.73) 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 technical indicators are neutral.
The weekly MACD line is above its signal line since August 9, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See OKE short-term trend chart]
A short-term downtrend had started on November 22, 2024 at 118.10 and reached 97.20 on December 20, 2024. OKE lost 20.90 points, or 17.70%, in 28 days. The price is now at the 13.88% retracement level.
 Daily Technical Indicators: [See OKE daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. 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 below its signal line since November 27, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current short-term downtrend is still strong, and momentum is beginning to wane.
The distance between the Bollinger Bands is 148.44% higher then one year average. It indicates the period of high volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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.
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