O

Realty Income Corporation

NYSE · Common stock

56.08

+0.53 (+0.95%)

Close, Oct 16, 2026

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Structural summary

What is the structure, what changed, and what would invalidate it

Viridia Intelligence

Context across dimensions, not a rating

StructureExpanding rangeIntermediate-degree swings on the daily chart.

WaveConstructiveImpulse, wave 4 up (Pattern Confidence 67); the weekly count points the other way.

FibonacciZone aboveNearest confluence 57.66–58.1 (4 relationships), +3.2% from the close.

MomentumWeak3 months −14.0% (behind SPY by 16.8 points); 6 months −13.8%.

RegimeDowntrend−4.5% vs the 50-day average, −9.1% vs the 200-day.

RiskNormal20-day volatility 15% vs 17% over the year; 1-year drawdown −21.0%; beta -0.04.

O setup history5 resolved: 2 reached target first

Current structure

Price, swings and the preferred count on the chart

O · 1DLoading bars…

SourceMassive, end of dayUpdated—MethodDaily bars, split-adjusted

Candidate interpretations

Every count shown passes every hard rule

Candidate interpretations

Ranked by Pattern Confidence

Counts ending at the latest intermediate swing low, 53.15 on Oct 8, 2026. 94 labelings tested, 67 broke a hard rule, 12+ remain.

Hard-rule evidence: why 67 labelings were eliminated

42Wave 2 always retraces less than 100% of wave 1
12Wave 4 always retraces less than 100% of wave 3
6Wave B ends short of the start of wave A (a zigzag is a sharp correction)
4Contracting triangle: C ends short of A's end, D short of B's end, and E short of C's end
3Wave 3 always travels beyond the end of wave 1

Method Every chain of 3–6 alternating pivots ending at the latest confirmed pivot is tested as each pattern; only counts with zero hard-rule failures are kept, then ranked by Pattern Confidence. Rules: rulebook.Engine pivots-1.0.0+rules-1.0.0+candidates-1.0.0+fib-1.0.1+rank-1.1.0+setup-1.0.1, bars to Oct 16, 2026

Fibonacci map

Confluence zones above and below the closeClose 56.08

56.08close

Bar length is the zone's strength (a weighted count of relationships, not a probability). Select a zone to see what forms it.

57.66 – 58.10+3.2% from the close

4 relationships · strength 7 · Intermediate, Minor degrees

58.10ProjectionThrust after the triangle ≈ width of wave A · Intermediate · EWP
58.05RetracementMove after the correction retraces 61.8% of A–C · Intermediate · Viridia
57.89ProjectionWave D = 61.8% of wave B · Intermediate · Essentials
57.66RetracementWave 4 retraces 38.2% of wave 3 · Minor · EWF

Method Targets come from the Fibonacci relationships the sources describe for the wave in progress, Elliott trend channels, the prior fourth wave of lesser degree, and 38.2–78.6% retracements of the latest swing. A zone is where two or more independent relationships fall within max(¼ ATR, 0.4%) of each other; strength counts them, weighting primary ratios and higher degrees. It is not a probability.

Evidence

The setup the preferred count implies, and how that kind of setup has done

Setup

Intermediate degree · from the preferred count

Bearish setupWaiting for the reference level

Wave 4 pullback

Wave 4 is correcting wave 3. The scenario looks for it to end ahead of wave 5.

Pattern Confidence 67 · Medium

Reference level+4.1% from close

58.28–58.50

Wave 4 retraces 38.2% of wave 3, inside a confluence zone (2 relationships)

Invalidation+6.1% from close

59.48

wave 4 cannot enter wave 1 territory (hard rule)

Structural target−11.0% from close

49.93

Wave 5 = wave 1, measured from the entry

Reward : risk

7.7 : 1

Invalidation 1.9% from the reference level · 1.2 ATR

Track record: this setup reached its target first in 7% of 109 past cases, averaging −0.29R. Method

Waiting: enter only if wave 4 reaches the entry range without crossing the stop.
The trade is wave 5: late in the trend, usually on lighter volume than wave 3.

NoteResearch scenario generated from Viridia's structural model. Not a recommendation.BasisIntermediate degree, daily bars through Oct 16, 2026. Followed for up to 60 sessions in the track record.MethodA setup restates the preferred count as a trade: the entry (the close, or the level where the correction in progress most often ends), the stop where the count is wrong (a rule level, or the end of a finished pattern), and the count's own Fibonacci target. Reward:risk is measured from the middle of the entry range. A setup needs reward:risk of at least 1 : 1. It is research output from the wave count, not a recommendation or a forecast.

Engine details

Analysis engine: pivots-1.0.0+rules-1.0.0+candidates-1.0.0+fib-1.0.1+rank-1.1.0+setup-1.0.1
Bars analysed to: Oct 16, 2026
Price history: Automatic, updated nightly
Daily bars: 514 since Sep 30, 2024
Avg volume, 50 days: 7.45M
Dollar volume, 20 days: $508.7M
SEC CIK: 0000726728
Provider symbols: nasdaqtrader: O · massive: O
Listing changes: None since Sep 24, 2026

SourcePrices: Massive (end of day, split-adjusted). Listings: Nasdaq Trader, SECUpdatedOct 19, 2026, 8:00 AM EDTMethodSecurity master, daily snapshot diff

Structure at a glance

Daily chart, as of Oct 16, 2026

Since the count's last pivot (53.15, Oct 8, 2026) price has moved +5.5%, the way the count expects.12 of 12 rule-valid counts expect the current move to be up.Weekly count: ending diagonal wave 3 ↓, opposite direction

Preferred count

Impulse down · wave 4 ↑

Price is in wave 4 of a five-wave decline (impulse).

1-2-3 from 67.94, Feb 27, 2026

Pattern Confidence67Medium

4 of 5 checks met

Key levels, preferred count

Invalidation+6.1% from close

59.48

Price above this level breaks the count.

Target, wave 4+4.3% from close

58.50

Wave 4 retraces 38.2% of wave 3

Nearest confluence zone+3.2% from close

57.66–58.10

4 Fibonacci relationships meet here.

Alternate count

Flat up · wave C ↑

Price is in wave C of a three-wave flat correction up.

A-B from 59.48, Jun 2, 2026

Pattern Confidence60Medium

1 of 1 checks met

Why this count is preferred · 4 met, 1 not met

Met

Wave 3 measures 161.8% or more of wave 1
The count starts at the price extreme of the prior swing (a new trend begins where the old one ended)
Wave 3 moves faster (price per bar) than waves 1 and 5
Wave 3 has the heaviest average volume of the actionary waves

Not met

Wave 2 retraces 50% to 85.4% of wave 1

MethodPattern Confidence = (guidelines met + 2) ÷ (guidelines measured + 4), from the rulebook's guidelines, Fibonacci tendencies and wave-personality checks (wave 3 speed and volume, wave 5 volume, alternation in time, a start at the prior extreme), alternate waves in Fibonacci ratio, and the rarity of running flats. The alternate is the best-ranked count that tells a different story. It ranks the rule-valid counts against each other; it is not a probability of any outcome.

Structural summary

Viridia Intelligence

Current structure

Candidate interpretations

Candidate interpretations

Fibonacci map

Fibonacci map

Evidence

Setup

Engine details

Structure at a glance

What changed