CoopsCharting
Long

OKS Buying Opportunity

NYSE:OKS   ONEOK PARTNERS LP
28 0 0
Weekly candle chart....

Fundamentally, this company is paying a 7-8% dividend which sees regular increases. Also, it has a fair P/E (possibly low depending on your opinion).

The thick blue-green line shows the obvious and long standing support/resistance line (in this case support).

The price quickly found support and recovered every time it fell below the 50% retrace level at 39. This is an indication that the overall bullish trend remains intact.

The weekly PSAR just flipped to "bullish" for the first time since it's fall from the triple top.

The weekly MACD is showing signs of bottoming and is about to make a bullish cross. Also, look at the daily chart MACD since the weekly indicators are a bit lagged in the case of reversals sometimes.

Fundamentally, OKS has a large and stable dividend with a history of increases. Also, this company is essentially a "toll road operator" for natural gas             companies and therefore has a limited exposure to natural gas             prices. I would also argue that there is not the same sort of threat to the price of natural gas             as there is to oil             since a much larger portion of the global supply is "in house" in the U.S.

...I can't think of one reason not to own this stock ...
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