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

By Shiri Gupta

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 $72.91 and $73.32 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.

Realty Income (NYSE:O) is currently priced 23.2% above its average consensus analyst price target of $55.96. Realty Income shares have support at the 50-day moving average (MA) of $70.87 and additional support at the 200-day MA of $68.42.

Over the past year, Realty Income has traded in a range of $55.55 to $74.14 and is now at $72.91, 31% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.

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