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Watch for Continued Losses in Shares of Tanger Factory Outlet Centers (SKT)

By James Quinn

Shares of Tanger Factory Outlet Centers (NYSE:SKT) traded today at $26.31, breaking its 52-week low. This new low was reached on below average trading volume as 263,000 shares traded hands, while the average 30-day volume is approximately 700,000 shares.

In the past 52 weeks, shares of Tanger Factory Outlet Centers have traded between the current low of $26.31 and a high of $42.20 and are now at $26.31. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.9%.

There is potential upside of 38.3% for shares of Tanger Factory Outlet Centers based on a current price of $26.31 and an average consensus analyst price target of $36.38. Tanger Factory Outlet Centers shares should first meet resistance at the 200-day moving average (MA) of $33.56 and find additional resistance at the 50-day MA of $35.40.

Tanger Factory Outlet Centers, Inc. is a real estate investment trust that owns and operates factory outlet centers. These centers house a variety of brand name and designer fashion outlet stores. Customer amenities such as common areas, reading materials, and children's play areas are available in Tanger's outlets, which are located coast to coast throughout the United States.

SmarTrend recommended that its subscribers protect gains by selling shares of Tanger Factory Outlet Centers on April 28th, 2017 by issuing a Downtrend alert when the shares were trading at $31.46. Since that call, shares of Tanger Factory Outlet Centers have fallen 15.7%. 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 outlet centers

Ticker(s): SKT