• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing
  3. / Energy

Oneok Is on the Edge of a Key Upside Breakout on the Charts

Sound interesting? Read further.
By BRUCE KAMICH
Jun 28, 2018 | 11:21 AM EDT
Stocks quotes in this article: OKE

Oneok, Inc. (OKE) got to the $70 area back in 2014 and then corrected down to around $20. OKE is back up to the $70 area again and ready for an upside breakout, in my opinion. Sound interesting? Read further.

In this daily bar chart of OKE, below, we can see that OKE broke out on the upside from a broad sideways trading range market in April. Prices stayed in a $50 to $58-ish range for about nine months before moving north. Prices closed above the rising 50-day moving average line in April and are still above it.

OKE tested the rising 200-day moving average line in February, March and early April before it began to lift higher.

The On-Balance-Volume (OBV) line has been in slow but steady uptrend the past 12 months.

The Moving Average Convergence Divergence (MACD) oscillator has been correcting since the middle of May but looks poised for a bullish crossover to the upside.

In this weekly bar chart of OKE, below, we went back five years to show the 2014 zenith around $70. Prices are above the rising 40-week moving average line.

The weekly OBV line has been strong and positive since early 2016.

The weekly MACD oscillator has been in a bullish configuration all calendar year.

This long-term weekly close only plots the weekly closes so the hi/low extremes are ignored and thus the last high of $70 in 2014. 

That is not a big issue or concern as a $104 price target is still indicated.

Bottom line: Traders and investors could go long OKE in the $70-$68 area risking below $65. The $100-$105 area is my price target.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are restricted from trading individual securities.

TAGS: Investing | U.S. Equity | Energy | Stocks

More from Energy

What's the Next Move for Crude Oil?

Bruce Kamich
Jul 5, 2022 3:30 PM EDT

A temporary break in oil prices, along with lower interest rates, could be a near-term positive for equity prices.

As Oil Hits the Fan, I See a Trading Opportunity

Mark Sebastian
Jul 5, 2022 2:48 PM EDT

Let's look at how to play Devon right now.

Exxon Mobil Could See Its Shares Decline Even Further

Bruce Kamich
Jul 5, 2022 10:40 AM EDT

Let's check out the charts.

This Energy Play Should Turn Out A-'OKE'

Bret Jensen
Jul 3, 2022 7:30 AM EDT

Let's learn how to make an enhanced yield trade in Oneok.

Welcome to Second Semester on Wall Street, Here's How to Make the Grade

Jim Collins
Jul 1, 2022 4:36 PM EDT

Think you can own big tech? You might just get an 'F' for that. Here's what will get you on the other side of this year.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 12:01 PM EDT PAUL PRICE

    A Recent Director Buy in Children's Place (PLCE)

    Four of the most recent insider trades in Children...
  • 07:34 AM EDT PAUL PRICE

    A $525,000 Vote of Confidence on Macerich (MAC)

  • 09:49 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    Stop Wishing, Hoping, and Praying and Take Control...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2022 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login