Thread by @malteseinvest

Analysis: #NYSE $O

Case 296 #Realty_Income Corporation.

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#O 1/4

Chart 1
Monthly Chart: Price peaked at an all time high of 84.92 and failed to reach the first objective of 89.12 - a violent #reversal ensued, smashing through the 10 year #trendline support but found #support on the .....

O 2/4

..... #SMA 200 and Fib. 0.618 at 39.78 and 38.02 respectively. Price has been unable to close above the confluence of the 10 year TL and #Fib. 0.382 at 55.79 and this is pressuring the downside.

O 3/4

Chart 2
Daily Chart: Current conditions are tricky as price is trapped in a range: a close above 58.36 is required to get things going. A two day close below 42.50 warns of another leg lower.

The #Strategy is printed on the image.