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Bearish Moving Average Cross by Oneok (OKE)

By David Diaz

Oneok (NYSE:OKE) crossed under its 10-day moving average of $35.54 on a volume of 423K 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.

In the past 52 weeks, Oneok share prices have been bracketed by a low of $18.84 and a high of $49.51 and are now at $35.23, 87% above that low price. The 200-day and 50-day moving averages have moved 0.35% lower and 5.56% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Oneok on February 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $23.60. Since that recommendation, shares of Oneok have risen 53.2%. 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