See how the Rectangle is playing out for O. View live chart.
Sideways movement between parallel supports.
Consolidation. Can break either way.
Bearish continuation if preceding move was down.
Bearish continuation pattern.
Technical analysis of Realty Income (O) reveals a significant setup. The stock is trading at $61.25, up 2.07% on the day. Price action has carved out a classic Bearish Flag. Volume is strong (1.31x avg) with moderate trend strength (7.9). A potential breakout level is identified at $59.48, targeting $53.76 with support near $61.51 (R:R 2.82).
What is your outlook on O?