O pushes through key resistance level


Realty Income Corporation (O) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
O pushes through key resistance level
O pushes through 20-day moving average
O unable to break through key resistance level
O closes within previous day's range
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

O finished Thursday at 52.99 gaining $0.59 (1.13%). Closing within the prior day's range, prices failed to decisively move past the previous day's trading range.

Daily chart for O
Volatility

Thursday's trading range was $0.78 (1.48%), that's slightly above last trading month's daily average range of $0.74. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Support/Resistance

Breaking through the key resistance level at 52.60 today, it is now likely to act as support going forward. Unable to break through the key technical resistance level at 53.30, the stock closed below it after spiking as high as 53.34 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

Trend

The share shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish. The market managed to break above the 20-day moving average at 52.94 today for the first time since May 3rd.

Order Flow

Selling might speed up should prices move below the close-by swing low at 52.37 where further sell stops could get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Realty Income Corporation
Condition Forecast Direction Win Avg Worst Best Events
White Candle TQ Pro Members Only
Low close to previous two Lows TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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