Realty Income | Daily Chart Analysis

O

Realty Income is widely recognized for its monthly dividend payouts.

Upon opening the chart and zooming out, it's evident that the stock has been moving within a significant range since around 2014/2015. Currently, we find ourselves in the lower half of this established range.

Currently, O is in a downtrend channel, so it's advisable to wait for confirmation of a potential bounce.

To further build my position and purchase more shares, I would like to see the first gap completely closed, and the second gap either fully closed or at least rejected with a long rejection wick candle, supported by a volume spike.

Additionally, I would be pleased if, in conjunction with these conditions, a divergence occurs in the area of the 30 RSI or below.

Trade active:

I hoped that O Realty Income would first fill out the current gaps below, as my plan was to expand my current position.

For now, I will wait to see if the price comes back before buying another chunk.

Comment:

Realty Income O has rebounded from the initial Bullish Gap and is now approaching the resistance zone of the upper channel. While I'm inclined to root for further upward momentum in Realty Income, I'm also keen on seeing the remaining bullish gaps closed.

Should the price retrace to fill those gaps, I intend to add to my existing position. Regardless of short-term fluctuations, my stance remains firm on holding this position for the long term.