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

By Amy Schwartz

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. Today's price range of $55.80 and $56.28 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. 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 has overhead space with shares priced $56.15, or 10.7% below the average consensus analyst price target of $62.91. Realty Income shares should encounter resistance at the 50-day moving average (MA) of $60.90 and support at its 200-day MA of $52.67.

In the past 52 weeks, Realty Income share prices have been bracketed by a low of $43.15 and a high of $72.29 and are now at $56.15, 30% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.2%.

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: bullish inside day candle realty income

Ticker(s): O