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Tanger Factory: New 52-Week Low Set Today (SKT)

By Amy Schwartz

Tanger Factory (NYSE:SKT) traded today at a new 52-week low of $15.08. This new low was reached on below average trading volume as 441,000 shares traded hands, while the average 30-day volume is approximately 2.3 million shares.

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.

In the past 52 weeks, shares of Tanger Factory have traded between the current low of $15.08 and a high of $24.91 and are now at $15.08. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.5%.

Potential upside of 40.1% exists for Tanger Factory, based on a current level of $15.08 and analysts' average consensus price target of $21.13. The stock should find initial resistance at its 50-day moving average (MA) of $16.19 and further resistance at its 200-day MA of $19.88.

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 $21.48. Since that call, shares of Tanger Factory have fallen 28.6%. 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