Chart of the week
Date: 07/26/2010
Symbol: OKE
Company Profile: ONEOK, Inc., a diversified energy company, operates as a natural gas distributor primarily in the United States. The company operates in three segments: ONEOK Partners, Distribution, and Energy Services.
Sector: Utilities
Industry: Gas Utilities
Chart explanation: OKE consolidate under 100sma on the daily chart forming triangle. I will look for breakup and back to previous weekly high. But before that OKE need to deal with $48 as previous high and because of that it will be initial target area for now. All will depends on pace and volume.
If anyone will have any question please feel free to contact me.
Long above: 46.25
Stop under: 45.45
Target: 48-50 area