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DenisRisticFX

Realty Income Corp (O): Looking for a Pullback Below 50% Fib

Short
Realty Income Corporation (NYSE:O)  
DenisRisticFX Updated   
NYSE:O   Realty Income Corporation
Trend Analysis Chart Patterns realty income corporation
2
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trendanalysis chartpattern realty income corporation
O has been slowly grinding higher since March 2020 lows topping out at $72.55. Price action since November has been stuck in a range with the January 2022 price action sweeping above the double top highs at $70.40 level. After the sweep higher, price action appears heavy at current pricing especially since the asset has not made any meaningful retracement lower. Currently I am bearish on O with downside objectives being 65.60, 62.50 and 54.50 levels.
Comment:
65.65 range low breached. Objective 1 reached.
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