ONEOK Stock Forecast
ONEOK stock upgraded to Buy Candidate.
(Updated on Apr 19, 2024)
The ONEOK stock price gained 2.25% on the last trading day (Friday, 19th Apr 2024), rising from $77.88 to $79.63. 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 2.59% from a day low at $77.94 to a day high of $79.95. The price has been going up and down for this period, and there has been a -0.03% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 188 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $177.21 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 19.06% during the next 3 months and, with a 90% probability hold a price between $92.54 and $99.30 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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $78.31 and $78.42. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -0.674%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for ONEOK stock
ONEOK finds support from accumulated volume at $76.56 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 $2.02 between high and low, or 2.59%. For the last week the stock has had daily average volatility of 2.11%.
Our recommended stop-loss: $76.39 (-4.07%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (OKE) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect ONEOK Inc to open at $79.17, and during the day (based on 14 day Average True Range), to move between $78.33 and $80.93, which gives a possible trading interval of +/-$1.30 (+/-1.63%) up or down from last closing price. If ONEOK Inc takes out the full calculated possible swing range there will be an estimated 3.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $79.87 (0.30%) than the support at $76.56 (3.86%), 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?
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.208 Buy Candidate Upgraded
Predicted Opening Price for ONEOK Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $79.17 ( 0.576%) | $79.63 |
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 | 81.19 | 1.95 % | |
| R2 | 80.42 | 0.99 % | ||
| R1 | 79.94 | 0.391 % | ||
| Current price: | 79.63 | |||
| Support | S1 | 78.40 | -1.54 % | |
| S2 | 77.93 | -2.14 % | ||
| S3 | 77.16 | -3.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 80.17 | 0.678 % | |
| R2 | 80.15 | 0.653 % | ||
| R1 | 79.87 | 0.301 % | ||
| Current price | 79.63 | |||
| Support | S1 | 76.56 | -3.86% | |
| S2 | 75.12 | -5.66% | ||
| S3 | 74.37 | -6.61% |
OKE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 17, 2024 | Jan 29, 2024 | Feb 14, 2024 | $0.99 | 1.43% |
| 2 | Oct 18, 2023 | Oct 31, 2023 | Nov 14, 2023 | $0.96 | 1.45% |
| 3 | Jul 19, 2023 | Jul 31, 2023 | Aug 14, 2023 | $0.96 | 1.45% |
| 4 | Apr 20, 2023 | Apr 28, 2023 | Aug 14, 2023 | $0.96 | 1.45% |
| 5 | Jan 18, 2023 | Jan 27, 2023 | Feb 14, 2023 | $0.96 | 1.37% |
FAQ
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