OGE closes at $37.93 after gaining 0.82%

A quick look at yesterday: the electric utility company went up to $37.93, gaining 0.82%.

Despite posting gains on yesterday, OGE Energy Corp. slid below its 21 day Simple Moving Average at $37.42 during the last session — an early indicator that a negative trend could be emerging. OGE could be slowing down soon as it approaches resistance at $38.14. Of course, crossing it might suggest further gains are ahead.

Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates OGE is set for a reversal in the coming days.

Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Crude Oil Inventories is projected to outperform its last figure with -1.67 million. It previously stood at -4.58 million; data will be released tomorrow at 14:30 UTC.

Furthermore, the market is looking at as things stand, upcoming United States Core Durable Goods Orders data is projected to fall short of market expectations with newly published data of -0.2%, following on from the preceding figure of -0.1%. New data is set to be published tomorrow at 12:30 UTC.

Furthermore, the market is looking at United States Building Permits will be released today at 13:30 UTC.

Having set a significant high of $42.78 8 months ago, the electric utility company is trading 12.06% lower.