ONEOK Inc (OKE)
Oneok, Inc. is a diversified Fortune 500 energy corporation based in Tulsa, Oklahoma.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 76.05% per annum.
- OKE price at the close of May 17, 2024 was $82.63 and was lower than the bottom border of the primary price channel by $76.61 (48.11%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 16.69% per annum.
- OKE price at the close of May 17, 2024 was inside the secondary price channel.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of OKE price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: March 9, 2020
End date: June 9, 2022
a = 2.5193
b = 0.0015
s = 0.1377
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0015) – 1
= 76.05%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1377) – 1
= 73.49%
March 9, 2020 calculations
Top border of price channel:
Exp(Y202)
= Exp(a + b × X202 + 2 × s)
= Exp(a + b × 294 + 2 × s)
= Exp(2.5193 + 0.0015 × 294 + 2 × 0.1377)
= Exp(3.2504)
= $25.80
Bottom border of price channel:
Exp(Y202)
= Exp(a + b × X202 – 2 × s)
= Exp(a + b × 294 – 2 × s)
= Exp(2.5193 + 0.0015 × 294 – 2 × 0.1377)
= Exp(2.6994)
= $14.87
June 9, 2022 calculations
Top border of price channel:
Exp(Y771)
= Exp(a + b × X771 + 2 × s)
= Exp(a + b × 1,116 + 2 × s)
= Exp(2.5193 + 0.0015 × 1,116 + 2 × 0.1377)
= Exp(4.5242)
= $92.22
Bottom border of price channel:
Exp(Y771)
= Exp(a + b × X771 – 2 × s)
= Exp(a + b × 1,116 – 2 × s)
= Exp(2.5193 + 0.0015 × 1,116 – 2 × 0.1377)
= Exp(3.9733)
= $53.16
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 76.05% per annum.
- OKE price at the close of May 17, 2024 was $82.63 and was lower than the bottom border of the primary price channel by $76.61 (48.11%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: March 3, 2021
End date: May 17, 2024
a = 3.5172
b = 0.0004
s = 0.0758
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0004) – 1
= 16.69%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0758) – 1
= 35.42%
March 3, 2021 calculations
Top border of price channel:
Exp(Y450)
= Exp(a + b × X450 + 2 × s)
= Exp(a + b × 653 + 2 × s)
= Exp(3.5172 + 0.0004 × 653 + 2 × 0.0758)
= Exp(3.9450)
= $51.68
Bottom border of price channel:
Exp(Y450)
= Exp(a + b × X450 – 2 × s)
= Exp(a + b × 653 – 2 × s)
= Exp(3.5172 + 0.0004 × 653 – 2 × 0.0758)
= Exp(3.6418)
= $38.16
May 17, 2024 calculations
Top border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(3.5172 + 0.0004 × 1,824 + 2 × 0.0758)
= Exp(4.4402)
= $84.79
Bottom border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(3.5172 + 0.0004 × 1,824 – 2 × 0.0758)
= Exp(4.1370)
= $62.61
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 16.69% per annum.
- OKE price at the close of May 17, 2024 was inside the secondary price channel.