Oneok Inc. (OKE) should remain supported in bullish sequence
ONEOK Inc. (OKE), engages in gathering, processing, fractionation, storage, transportation & marketing of natural gas & natural gas liquids in the United States. It operates through Natural gas gathering & processing, Natural gas liquids & Natural gas pipelines segments & Refined products & Crude. The company is based in Tulsa, Oklahoma, comes under Energy sector & trades as “OKE” ticker at NYSE.
OKE – Elliott Wave latest weekly view
OKE is trading at all time high, favoring upside in I of (III) as broke above $78.48 high. Above $50.50 low of (II), it expects further upside as the part of impulse sequence as (3) of ((3)) of I. In Weekly sequence, it ended ((II)) at $12.16 in March-2020 low. Above there, it favors upside in (III) of ((III)) as it breaks to new high. It placed (I) of ((III)) at $75.07 high in April-2022 & (II) at $50.50 low as double correction. (II) correction was 0.382 Fibonacci retracement of (I) & missed to reach the extreme areas in y.
OKE – Elliott Wave latest daily view
Above (II) low, it placed ((1)) of I at $71.57 high & ((2)) at $55.91 low as 0.764 Fibonacci retracement. It placed (2) of ((3)) at $60.58 low & broke to new high above (I) as the part of (3) of ((3)). It placed 1 of (3) at $72.52 high as diagonal structure, 2 at $67.05 low & 3 of (3) at $80.81 high. Currently, it favors pullback in 4 & should correct towards $77.61 – $75.59 area before it may resume rally in 5 of (3). We like to buy the pullback in clear 3, 7 or 11 swings correction at extreme areas, while dips remain above $67.05 low.
Author
Elliott Wave Forecast Team
ElliottWave-Forecast.com
