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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Oneok Inc (NYSE:OKE) based on the price action in the company's shares. Yesterday's price range of $73.83 and $75.23 is within the prior day'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. Traders and investors interested in shares of Oneok Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Oneok Inc (NYSE:OKE) is currently priced 11.3% above its average consensus analyst price target of $65.00. Oneok Inc shares should encounter resistance at the 50-day moving average (MA) of $75.56 and support at its 200-day MA of $71.16.

ONEOK, Inc. is a diversified energy company. The Company is involved in the natural gas and natural gas liquids business across the United States.

Oneok Inc share prices have moved between a 52-week high of $78.48 and a 52-week low of $63.13 and closed yesterday at 16% above that low price at $73.29 per share. The 200-day and 50-day moving averages have moved 0.16% higher and 0.10% higher over the past week, respectively.

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: bullish am inside day candle oneok inc

Ticker(s): OKE