Hello traders, friends, family, followers and fans! I am sure you had a merry and majestic last few days! Welcome to 2017! Let’s totally rock this out and have an immensely wonderful year.
You likely will begin hearing a lot about R.E.I.T’s and investing in them during 2017 and 2018 as interest rates will likely increase from the fed. I love investing and trading real estate investment trusts, as they usually pay great dividends and often times can be pretty volatile.
One such stock/R.E.I.T is ticker O, Realty Income Corporation. I love following this company. It’s a fun one for sure.
You’ll notice in the below chart that O has pulled back to an old resistance, new support in the $55 area. Plus, the 100 SMA is smack dab at the same price, just chilling at the $55.01 price too. I’m looking at O down here to be a tad longer term trade. 5months minimum at this level. Now of course, you could also keep an eye on O as a shorter term trade also. After all - there is great support at this level.
O has had a very nice pull back from $71 to $53 ish, approximately 25%, which is a healthy pull back for sure.
Well, that’s what I’ve got on this one folks. Thanks for reading! If you have any questions, just let me know! You rock!!