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

By James Quinn

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 $68.04 and $68.59 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.

Based on a current price of $68.08, Oneok Inc is currently 4.5% above its average consensus analyst price target of $65.00. Oneok Inc shares have support at the 50-day moving average (MA) of $66.99 and additional support at the 200-day MA of $64.89.

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.

Over the past year, Oneok Inc has traded in a range of $50.26 to $71.99 and is now at $68.08, 35% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.5%.

SmarTrend is monitoring the recent change of momentum in Oneok Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Oneok Inc in search of a potential trend change.

Keywords: bearish inside day candle oneok inc

Ticker(s): OKE