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Bearish Moving Average Cross by Oneok (OKE)

By James Quinn

Today, shares of Oneok (NYSE:OKE) have fallen below their 10-day MA of $48.55 on a volume of 415K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Oneok has traded in a range of $18.84 to $51.13 and is now at $47.72, 153% above that low. The 200-day and 50-day moving averages have moved 0.18% lower and 4.40% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Oneok on August 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $46.92. Since that recommendation, shares of Oneok have risen 5.1%. We continue to monitor OKE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses oneok

Ticker(s): OKE