TAcharts

O, watch out for that (deep) Crab

NYSE:O   REALTY INCOME CORP
I believe that "O" may be in the process of forming a deep crab .
I actually have a smaller crab with its PRZ where price is now, looking
for a move down. Should it carry through, this will help start the development
of the CD leg of this larger Monthly Crab . The weekly chart will show a strong
Evening Star reversal pattern (in the PRZ of the weekly bearish Crab ). Of course,
this will require follow through to confirm.

This monthly deep crab is not viable until at a minimum the B point is exceeded
on the downside. It does however, point to the potential of a nasty move down if
it does in fact reach the PRZ area.

Comments

As an added note: The move between the 2 peaks on this monthly was a
very nice Cypher (bearish). :o)
Reply
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