ONEOK stock: buy or sell
Jan 18th, 2021
ONEOK stock brief
- ONEOK stock slided -1.32% to close at $44.17 on the stock market last Friday, and broke a streak of 4 sessions in green.
- The price is currently above the upper Bollinger band, which often indicates a short-term correction
- From the chart point view, price is drawing a scaled uptrend since September 2020 with higher tops and higher bottoms. This rally marked a 95.79% gain
- Morgan Stanley published a sell rating for ONEOK last Friday, with a forecast of $40.00
- ONEOK, Inc., together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States.
Should I buy ONEOK stock?
Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $OKE stock a buy?
Currently, ONEOK stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean we expect a selloff for $OKE in the next few days, or that it may not rise higher. Simply, it doesn't match our recommended trading systems
Should I sell ONEOK stock?
Do you know when is it time to sell ONEOK?. Trading strategies help us to avoid impulsive decisions based on our personal moods or the noise that surrounds the market. Our trading system selects very simple setups to guide us on when is a good moment to sell our shares. Be aware that these setups should not be used for shorting $OKE stock
As a rule of thumb, you must never keep an open trade that leads to losses greater than those expected by the time of the buy. When to sell your stock should always be determined by the stop-loss (automatic or manual)
Is it time to sell ONEOK stock?
Currently, ONEOK stock doesn't match any of our preferred sell setups, so if you own ONEOK stock and your operation is in profit probably is not time to sell now
In the last month, 2 brokerage ratings were published for ONEOK
|Jan 14th, 2021|
|Jan 15th, 2021|
ONEOK stock analysis
ONEOK stock started an uptrend in September 2020, and grew a gorgeous 95.79%. During this uptrend, the price gave some entry points on the breakouts. Latest pullback was on January 4, when price bounced at $37.39. Like in all uptrends, price needs to rest and currently price is moving in a range between $45.71 and $37.39
Supports and resistances
The current resistance levels are:
The current support levels are:
When the price moves out of the band (above the upper line or below the lower line) it tells that the price is currently maintaining a very strong momentum and therefore can correct the trend to the average. At this point, the price is over the upper band, which should mean a possible near-term corrective movement (at least) until it is below the band
Relative strength index
After breaking out the overbought zone yesterday, fell back below with a reading of 69.47. This is a signal of weakness for the ONEOK shares and it must raise our awarness of weakness in the stock price
ONEOK stock price history
ONEOK started trading on Oct 1st, 1980 at $0.00 per share1. Since then, OKE stock has risen by -, with an average of 0.00% per year. If you had invested thousand dollars in ONEOK stock on the IPO, it would be valued $inf today.
1: Adjusted price after possible price splits or reverse-splits
Price target for ONEOK stock
Nobody can predict how much a stock will be priced tomorrow. Banks and financial organisations publish their analysis forecasting how a stock will performance in the future.
The following table shows the price target published by financial institutions in the last 30 days. Again, these estimates are not direct recommendations for small investors and must not be followed blindly.
The average price target for ONEOK stock calculated from the table below is $43.00. ONEOK closed at $44.17 last Friday, so the target price is predicting a decrease by 2.65%.
|Brokerage firm||Price target|
|Jan 14th, 2021|
|Raymond James||$35.00 → $46.00|
|Jan 15th, 2021|
|Morgan Stanley||$37.00 → $40.00|
Earnings and financials
Investors event was hosted by ONEOK ($OKE) last October after presenting the financial report. ONEOK posted earnings of $0.70 per share on sales of $2.2 billion. The analysts estimate was $0.58 per share on revenue of $2.6 billion.This compares to Earnings of $0.74 per share a year ago, so posted EPS is a decrease of -5.41%. Looking at revenues, figures merely moved compared to $22.6B same quarter a year ago.
ONEOK ($OKE) is hosting the Q4 earnings call mid next February. Wall Street forecasts of $0.72, compared to Q3 that made $0.70.
ONEOK is part of the Energy sector and the Oil & Gas Midstream industry, which contain industry peers.
The following are some of ONEOK biggest competitors:
|Company||Market cap||Rating||Bullish ratings1|
|Sempra Energy ($SRE)||$36.8B||Buy||2|
|Atmos Energy (ATO)||$11.3B||Neutral||0|
|National Fuel Gas (NFG)||$3.8B||Neutral||0|
|Southwest Gas (SWX)||$3.3B||Neutral||0|
1 In the last 30 days.
To better understand ONEOK performance you must compare its gains with other related stocks in same sector or industry.. For ONEOK, the benchmark is made against Sempra Energy, Atmos Energy, UGI, EQT, National Fuel Gas and Southwest Gas.
|Sempra Energy ($SRE)||-6.40%||-4.30%||0.20%|
|Atmos Energy (ATO)||-11.30%||-4.00%||-9.60%|
|National Fuel Gas (NFG)||2.30%||5.80%||10.80%|
|Southwest Gas (SWX)||-7.50%||-8.40%||-14.50%|
Disclaimer:The thoughts published in this article are personal and should not be followed as recommendations for you to buy or sell shares. The author of this document does not have an understanding of the specific situations of the reader, his or her finances or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Comments are expressed for informational motives only
|Friday, January 15th, 2021|
|Day range||$43.02 - $44.71|
|Average true range||$2.00|
|50d mov avg||$37.34|
|100d mov avg||$32.06|
|200d mov avg||$30.69|
|Earnings date||February 22nd, 2021|