End of a slump? After four days of going down, OGE up 0.97% today

A quick look at today: after closing at $37.24 on yesterday, OGE rallied as high as $37.77 but ended the day at $37.6.

United States's Crude Oil Inventories new data released of -4.58 million below its previous figure.

OGE's uptick comes amid disappointing United States macroeconomic data released during the session – data from United States concerning Crude Oil Inventories was released today at 14:30 UTC. Newly published figures emphasized continued decline from last month's figure of 597,000 to -4.58 million this month.

At the same time, United States Building Permits (Mar) came out at 1.41 million, while a consensus of analysts was expecting 1.45 million. United States 20-Year Bond Auction released today at 17:00 UTC with a figure of 3.92, while the previous figure was 3.909.

With regards to technical trend indicators, chart analysis show that OGE Energy Corp. made an initial breakout above its 3 day Simple Moving Average at $37.68, a potential indicator of a newly emerging bullish phase. Analysis of OGE's recent price action suggests after reaching the known resistance zone beginning at $37.76, OGE price action retreated approximately 16 cents.

All in all, the technical analysis suggests OGE has no clear-cut direction.

A look at other utilities stocks also showed bullish price action as NextEra Energy was up 0.82%.

Also worthy of note, projections for United States Initial Jobless Claims are set for a continuation of decline with 240,000 while previous data was 239,000; data will be released tomorrow at 12:30 UTC.

Furthermore, the market is looking at United States Philadelphia Fed Manufacturing Index (Apr) is scheduled for tomorrow at 12:30 UTC. United States Existing Home Sales (Mar) will be released tomorrow at 14:00 UTC.

The electric utility company reached a significant high of $42.78 around 7 months ago but has lost 12.95% since then.