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Tanger Factory Looks to Continue to Trade Below its Annual-Low Share Price Today

By Shiri Gupta

Shares of Tanger Factory (NYSE:SKT) traded at a new 52-week low today of $15.56. This new low was reached on below average trading volume as 239,000 shares traded hands, while the average 30-day volume is approximately 1.6 million shares.

Tanger Factory share prices have moved between a 52-week high of $24.91 and the current low of $15.56 and are currently at $15.56 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.4% while the 200-day MA has slid 0.5%.

Potential upside of 35.8% exists for Tanger Factory, based on a current level of $15.56 and analysts' average consensus price target of $21.13. Tanger Factory shares should first meet resistance at the 50-day moving average (MA) of $17.79 and find additional resistance at the 200-day MA of $20.96.

Tanger Factory Outlet Centers, Inc. (NYSE:SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 44 upscale outlet shopping centers.

SmarTrend recommended that its subscribers protect gains by selling shares of Tanger Factory on February 20th, 2019 by issuing a Downtrend alert when the shares were trading at $21.47. Since that call, shares of Tanger Factory have fallen 27.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows tanger factory

Ticker(s): SKT