Global Net Lease Inc

GNL is in Stage 3 Distribution, with a sequence of lower highs and lower lows reinforcing a bearish medium-term bias despite a single-bar momentum breakout. Price is currently pulling back into the rising 9/21 EMAs with a neutral overbought/oversold context, offering no immediate entry signal. We will wait for rallies into the 9/21 EMAs and the mid-July resistance zone for rejection to confirm supply dominance before engaging on the downside.

• ↑1.78% dividend yield appeals to income-focused investors.
• ↑97% portfolio occupancy supports reliable cash flow.
• ↓Net debt/EBITDA at 6.7x increases interest-rate sensitivity.