OKE, recently saw its ADX indicator cross above the ADXR. This is the seventh time this has occurred since the stock was first listed. The ADX indicator is a technical analysis tool used to measure a stock’s trend strength. When it crosses the ADXR, it is a sign that the current trend is gaining momentum.
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Historically, when the ADX indicator has crossed above the ADXR, the stock has gone up 57% of the time in the next 30 days, with a median price movement of $0.4. In the next 90 days though, the stock has gone down 86% of the time, with a median price movement of $-6.12.
The short term trend of OKE is leaning positive, but investors should be aware of the potential for a decline within the next 90 days. It is important to note, however, that past performance is not a guarantee of future returns. Investors should always do their own research and use caution when investing in any stock.