ONEOK Stock Forecast
ONEOK stock price up 1.09% on Monday
(Updated on May 06, 2024)
The ONEOK stock price gained 1.09% on the last trading day (Monday, 6th May 2024), rising from $77.23 to $78.07. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.58% from a day low at $77.37 to a day high of $78.59. The price has risen in 7 of the last 10 days but is still down by -2.3% for this period. Volume fell on the last day by -55 thousand shares and in total, 2 million shares were bought and sold for approximately $164.40 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $77.26 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.14% during the next 3 months and, with a 90% probability hold a price between $87.41 and $93.00 at the end of this 3-month period.
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OKE Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ONEOK stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $78.68 and $79.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -4.11%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for ONEOK stock
ONEOK finds support from accumulated volume at $76.92 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.22 between high and low, or 1.58%. For the last week the stock has had daily average volatility of 2.04%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OKE) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect ONEOK Inc to open at $78.01, and during the day (based on 14 day Average True Range), to move between $76.65 and $79.49, which gives a possible trading interval of +/-$1.42 (+/-1.82%) up or down from last closing price. If ONEOK Inc takes out the full calculated possible swing range there will be an estimated 3.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $78.70 (0.81%) than the support at $76.92 (1.47%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is ONEOK Inc stock A Buy?
The ONEOK stock holds several negative signals and despite the positive trend, we believe ONEOK will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.959 Sell Candidate Unchanged
Predicted Opening Price for ONEOK Inc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $78.01 ( 0.0769%) | $78.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OKE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 79.23 | 1.49 % | |
| R2 | 78.76 | 0.89 % | ||
| R1 | 78.48 | 0.520 % | ||
| Current price: | 78.07 | |||
| Support | S1 | 77.54 | -0.674 % | |
| S2 | 77.26 | -1.04 % | ||
| S3 | 76.79 | -1.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 79.12 | 1.34 % | |
| R2 | 79.06 | 1.27 % | ||
| R1 | 78.70 | 0.81 % | ||
| Current price | 78.07 | |||
| Support | S1 | 76.92 | -1.47% | |
| S2 | 75.12 | -3.78% | ||
| S3 | 74.37 | -4.74% |
OKE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | Apr 30, 2024 | May 15, 2024 | $0.99 | 1.27% |
| 2 | Jan 17, 2024 | Jan 29, 2024 | Feb 14, 2024 | $0.99 | 1.43% |
| 3 | Oct 18, 2023 | Oct 31, 2023 | Nov 14, 2023 | $0.96 | 1.45% |
| 4 | Jul 19, 2023 | Jul 31, 2023 | Aug 14, 2023 | $0.96 | 1.45% |
| 5 | Apr 20, 2023 | Apr 28, 2023 | Aug 14, 2023 | $0.96 | 1.45% |
FAQ
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