ONEOK Stock Forecast
Green day on Wednesday for ONEOK stock after gaining 0.747%
(Updated on Apr 24, 2024)
The ONEOK stock price gained 0.747% on the last trading day (Wednesday, 24th Apr 2024), rising from $80.35 to $80.95. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 1.96% from a day low at $79.56 to a day high of $81.12. The price has risen in 7 of the last 10 days and is up by 2.39% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 367 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $136.92 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 18.49% during the next 3 months and, with a 90% probability hold a price between $92.83 and $99.50 at the end of this 3-month period.
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OKE Signals & Forecast
The ONEOK stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $79.07 and $78.76. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.02%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for ONEOK stock
On the downside, the stock finds support just below today's level from accumulated volume at $76.56 and $75.12. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, ONEOK finds support just below today's level at $76.56. If this is broken, then the next support from accumulated volume will be at $75.12 and $74.37.
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 $1.56 between high and low, or 1.96%. For the last week the stock has had daily average volatility of 1.90%.
Since the ONEOK has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $77.41 (-4.37%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (OKE) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect ONEOK Inc to open at $80.54, and during the day (based on 14 day Average True Range), to move between $79.61 and $82.29, which gives a possible trading interval of +/-$1.34 (+/-1.66%) up or down from last closing price. If ONEOK Inc takes out the full calculated possible swing range there will be an estimated 3.32% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $76.56, some $4.39 (5.42%) from the current price of $80.95, our system finds the risk reward attractive.
Earnings coming up
ONEOK will release earnings AMC on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.20. We will update the financials statements for ONEOK, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.31% in the first trading day after earnings release.
Is ONEOK Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for ONEOK stock to perform well in the short-term.
Current score: 4.213 Buy Candidate Unchanged
Predicted Opening Price for ONEOK Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $80.54 ( 0.502%) | $80.95 |
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 | 82.10 | 1.42 % | |
| R2 | 81.51 | 0.689 % | ||
| R1 | 81.14 | 0.234 % | ||
| Current price: | 80.95 | |||
| Support | S1 | 79.95 | -1.24 % | |
| S2 | 79.58 | -1.69 % | ||
| S3 | 78.98 | -2.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 80.95 | |||
| Support | S1 | 76.56 | -5.42% | |
| S2 | 75.12 | -7.20% | ||
| S3 | 74.37 | -8.13% |
OKE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | Apr 30, 2024 | May 15, 2024 | $0.99 | 1.22% |
| 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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