Realty Income Stock Forecast

Green day on Friday for Realty Income
(Updated on May 03, 2024)

O Signals & Forecast

Mostly positive signals in the chart today. The Realty Income stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $54.21 and $52.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 8.78%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Realty Income stock

On the downside, the stock finds support just below today's level from accumulated volume at $52.49 and $52.24. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Realty Income finds support just below today's level at $52.49. If this is broken, then the next support from accumulated volume will be at $52.24 and $52.02.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.89 (1.62%) between high and low. For the last week, the stock has had daily average volatility of 1.57%.

The Realty Income stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: $52.91 (-4.25%) (This stock has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 13 days ago.)

Trading Expectations (O) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Realty Income Corporation to open at $55.29, and during the day (based on 14 day Average True Range), to move between $54.36 and $56.16, which gives a possible trading interval of +/-$0.90 (+/-1.62%) up or down from last closing price. If Realty Income Corporation takes out the full calculated possible swing range there will be an estimated 3.24% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $52.49, some $2.77 (5.01%) from the current price of $55.26, our system finds the risk reward attractive.

Is Realty Income Corporation stock A Buy?

Several short-term signals, along with a general good trend, are positive and the stock has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for Realty Income stock to perform well in the short-term period. Due to a possible false trend-break listing stock as pure buy candidate is held back.

Current score: 4.220 Buy Candidate Unchanged

Predicted Opening Price for Realty Income Corporation of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.