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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. Yesterday's price range of $59.04 and $60.03 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.

In the past 52 weeks, shares of Realty Income have traded between a low of $43.15 and a high of $63.92 and closed yesterday at $59.37, which is 38% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.7%.

Realty Income (NYSE:O) is currently priced 15.9% above its average consensus analyst price target of $49.96. The stock should find resistance at its 50-day moving average (MA) of $60.83, as well as support at its 200-day MA of $52.05.

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.

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 am inside day candle realty income

Ticker(s): O