O crashes -0.83% on high volume

Realty Income Corporation (O) Technical Analysis Report for Sep 14, 2018

Highlights

O tanks -0.83% on high volume
O finds support at 50-day moving average
O breaks below previous session low
O falls to lowest close since August 15th
O ends the day indecisive

TQ Sentiment

Report Sentiment: 50% Bearish
Technical Forecast:

Overview

O ended the week -0.83% lower at 57.66 after losing $0.48 (-0.83%) today on high volume. This is the biggest single day loss in over a week. Today's closing price of 57.66 marks the lowest close since August 15th. Closing below Thursday's low at 58.06, the market confirms its breakout through the previous session's low having traded $1.10 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for O

Volatility

Friday's trading range was $0.94 (1.62%), that's far above last trading month's daily average range of $0.61. Weekly volatility is also higher, being above the markets average with the monthly volatility being below average.

Support/Resistance

Prices are trading close to the key resistance level at 57.98. After trading as low as 56.96 during the day, Realty Income found support at the 50-day moving average at 57.00.

Trend

Although the stock is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

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

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