Long Position on OKE @ $45.40 on 7/26/2016 (Momentum)

ONEOK, Inc (OKE) engages in the gathering, processing, storage, and transportation of natural gas in the United States.

It operates through the Natural Gas Gathering and Processing, the Natural Gas Liquids, and the Natural Gas Pipelines segments.

The company gathers, treats, fractionates, stores, and transports natural gas liquids (NGL), as well as owns natural gas liquids gathering and distribution pipelines, natural gas liquids distribution and refined petroleum products pipelines, and terminal and storage facilities; and operates interstate and intrastate regulated natural gas transmission pipelines and natural gas storage facilities, as well as stores, markets, and distributes NGL products to petrochemical manufacturers, heating fuel users, ethanol producers, refineries, exporters, and propane distributors.

It also owns and operates a parking garage in downtown Tulsa, Oklahoma; and leases excess office space to others.

Shares of this company are heading higher in an upward trading channel. The 50-day moving average shown in green has proven to be a support in the past. Higher share prices are expected for this stock. The firm is expected to report its results on August 2nd.

52-Weeks Trading Range: $18.84 - $49.09

Entry Point: $45.40

Stop Loss: $43.10

Target Price: $49.95

Updates

8/29/2016 3:52:33 PM

OKE closed at $47.32

Position closed on 8/29/2016 at price of $47.32 with a 4.23% gain in 34 days.

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