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.

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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.