Will There Eventually Be a Bottom for Realty Income at Lower Levels?

Realty Income Corp. (O) has been in a downtrend since the middle of 2016. Is there a bottom out there? With prices digging into long-term support I have less confidence that prices will make a lasting low here. Further weakness seems likely. Let's review the charts and indicators.

In this daily bar chart of O, below, we can see that O went from a downtrend in February-May to a sideways trend until early January. During the sideways period prices traded up and down through the 50-day and 200-day moving averages. In December the weakness started to appear as O failed at the underside of the declining 200-day average. A lower low was made in early January and a new "leg" lower began....243 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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