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ONEOK Has Fallen 7% in 2017: What’s Next?

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Moving averages

ONEOK (OKE) is trading 3% below its 50-day moving average and 3.5% above its 200-day moving average. Its 50-day moving average might act as resistance in the short term, while its 200-day moving average level could act as support for the stock.

If ONEOK falls below the 200-day moving average, it will be a bearish indicator for the stock in the short term. As the above graph shows, ONEOK has been broadly trading range-bound in the last few trading sessions. ONEOK crossed above its 200-day moving average in April 2016. It has been trading above that average since then.

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