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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Realty Income (NYSE:O) based on the price action in the company's shares. Yesterday's price range of $76.42 and $76.93 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. Traders and investors interested in shares of Realty Income may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

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 26.9% above its average consensus analyst price target of $55.96. Realty Income shares should encounter resistance at the 50-day moving average (MA) of $77.52 and support at its 200-day MA of $72.31.

In the past 52 weeks, Realty Income share prices have been bracketed by a low of $59.93 and a high of $82.17 and closed yesterday at $76.56, 28% above that low price. The 200-day and 50-day moving averages have moved 0.24% higher and 0.24% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Realty Income and will alert subscribers who have O in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle realty income

Ticker(s): O