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Possible Bearish Inside Day Candle Pattern Detected for Oneok Inc (NYSE:OKE)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Oneok Inc (NYSE:OKE) based on the price action in the company's shares. Today's price range of $69.55 and $69.55 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Oneok Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Oneok Inc share prices have been bracketed by a low of $50.26 and a high of $71.99 and are now at $69.55, 38% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.5%.

ONEOK, Inc., through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States.

Oneok Inc (NYSE:OKE) is currently priced 6.5% above its average consensus analyst price target of $65.00. Oneok Inc shares have support at the 200-day moving average (MA) of $65.36 and additional support at the 50-day MA of $65.05.

SmarTrend is tracking the current trend status for Oneok Inc and will alert subscribers who have OKE in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle oneok inc

Ticker(s): OKE