CUP & HANDLE BULLISH CONTINUATION
Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed and emerging markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features a recent breakout opportunity in U.S. equities from the Breakout Alerts section of the latest weekly Global Equity Markets report. Also below you will find a free educational video on cup & handle classical chart pattern.
ONEOK INC (OKE)
ONEOK, Inc. is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. The Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions. The Company operates through three business segments. The Natural Gas Gathering and Processing segment provides midstream services to contracted producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma. The Natural Gas Liquids segment owns and operates facilities that gather, fractionate, treat and distribute NGLs and store NGL products primarily in the Mid-Continental, Permian Basin and the Rocky Mountain regions. The Natural Gas Pipelines segment provides transportation and storage services to end users. The stock is listed on the New York Stock Exchange. Price chart formed a 16 month-long cup & handle continuation with the horizontal boundary acting as strong resistance at 59.85 levels. The daily close above 61.65 levels confirmed the breakout from the 16 month-long cup & handle continuation with the possible chart pattern price target of 71 levels.
EDUCATIONAL VIDEO ON CUP & HANDLE CHART PATTERN
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