• Return to Headlines

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

By Nick Russo

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. Today's price range of $55.75 and $56.44 is within yesterday'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.

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.

In the past 52 weeks, shares of Realty Income have traded between a low of $52.72 and a high of $72.30 and are now at $56.12, which is 6% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.2%.

Realty Income has overhead space with shares priced $56.12, or 4.6% below the average consensus analyst price target of $58.83. The stock should hit resistance at its 50-day moving average (MA) of $60.90, as well as support at its 200-day MA of $52.67.

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 inside day candle realty income

Ticker(s): O