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Possible Bearish Inside Day Candle Pattern Detected for Realty Income (NYSE:O)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Realty Income (NYSE:O) based on the price action in the company's shares. Yesterday's price range of $74.44 and $74.79 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Realty Income may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Realty Income has traded in a range of $63.43 to $82.17 and closed yesterday at $74.96, 18% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has remained constant.

Realty Income Corporation owns and manages a portfolio of commercial properties located across the United States. The Company focuses on acquiring single-tenant retail locations, leased to regional and national chains, and under long-term net lease agreements.

Realty Income (NYSE:O) is currently priced 25.3% above its average consensus analyst price target of $55.96. Realty Income shares should encounter resistance at the 50-day moving average (MA) of $75.29 and support at its 200-day MA of $73.28.

SmarTrend is monitoring the recent change of momentum in Realty Income. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Realty Income in search of a potential trend change.

Keywords: bearish am inside day candle realty income

Ticker(s): O