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Watch for Oneok Inc to Potentially Pullback After Gaining 1.20% Yesterday

By James Quinn

Oneok Inc (NYSE:OKE) traded in a range yesterday that spanned from a low of $76.29 to a high of $76.87. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $76.48 on volume of 360,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Oneok Inc share prices have been bracketed by a low of $58.45 and a high of $77.21 and are now at $76.63, 31% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of Oneok Inc on October 24th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $71.54. Since that recommendation, shares of Oneok Inc have risen 6.1%. We continue to monitor OKE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders oneok inc

Ticker(s): OKE