ONEOK (OKE) is trading 2% above its 50-day moving average and 7.6% above its 200-day moving average. Its 50-day and 200-day moving averages might act as support for the stock in the short term. ONEOK was trading below its 50-day moving average in the previous week ending March 24, 2017. It rose 4.4% for the week ending March 31, which helped it cross above this level.
As the above graph shows, ONEOK crossed above its 200-day moving average in April 2016. Since then, it has been trading above that average.
Nearly 86% of the analysts rated ONEOK as a “hold,” 7% rated it as a “buy,” and 7% rated it as a “sell.” For the next year, the stock’s median target price is $56. It implies 1% upside over the next year from its current price of $55.44.
In the next part of the series, we’ll find what ONEOK’s stock price range might be this week based on its implied volatility.