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Uptrend Broken SupportArchive
- 4/26/2024 -
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ONEOK Inc. (OKE) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a second consecutive positive week for the ONEOK Inc. (OKE). During the week, the OKE gained 1.43 points, or 1.80%, and closed at 81.06 on Friday, April 26, 2024. Weekly volume was -43% 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 uptrend had started on September 26, 2022 at 50.50 and reached 81.81 on April 25, 2024. OKE gained -31.31 points, or -62%, in 82 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (66.24) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 81.81 on April 25, 2024. OKE gained -25.90 points, or -46.32%, in 49 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 70.26 and resistance is at 82.21. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See OKE weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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. 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 April 16, 2024 at 76.29 and reached 81.81 on April 25, 2024. OKE gained -5.52 points, or -7.24%, in 9 days. The price is now at the 13.59% retracement level.
Daily Technical Indicators: [See OKE daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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