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

By David Diaz

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 $55.75 and $56.46 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.

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) has potential upside of 5.1% based on a current price of $55.99 and analysts' consensus 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.

Realty Income share prices have moved between a 52-week high of $72.30 and a 52-week low of $52.72 and closed yesterday at 6% above that low price at $55.99 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.5%.

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