Despite all odds, real-estate similar to gold and now crypto is a separate class of assets. Realty Income is one of those stock allowing to diversify the portfolio by exposing it to the real estate sector.
The chart is shown with the dividend adjustment as this is how it should be viewed - total return. We are in a downward channel after Fed started QT. It took almost 2 years for the market to accept the fact that inflation is sticker than majority thought. Moving forward it seems though Fed won't rush to lower the rate.
Technically
O
reached the upper line of downward channel and descending triangle. 50 level is a strong support both on recent daily and long-term monthly chart. The trades are close to 50% fib-level adding to the importance of the current moment.
Now, I choose to observe if it can make a reversal and break the channel, go above 50% fib and fix 57 as a strong support. Once this is confirmed, high chance of moving upwards to 68 with intermediate resistance levels 59-60 and 63-64.
The chart is shown with the dividend adjustment as this is how it should be viewed - total return. We are in a downward channel after Fed started QT. It took almost 2 years for the market to accept the fact that inflation is sticker than majority thought. Moving forward it seems though Fed won't rush to lower the rate.
Technically
O
reached the upper line of downward channel and descending triangle. 50 level is a strong support both on recent daily and long-term monthly chart. The trades are close to 50% fib-level adding to the importance of the current moment. Now, I choose to observe if it can make a reversal and break the channel, go above 50% fib and fix 57 as a strong support. Once this is confirmed, high chance of moving upwards to 68 with intermediate resistance levels 59-60 and 63-64.