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Look for Shares of Tanger Factory to Potentially Rebound after Yesterday's 2.75% Sell Off

By David Diaz

Tanger Factory (NYSE:SKT) traded in a range yesterday that spanned from a low of $24.98 to a high of $25.65. Yesterday, the shares fell 2.7%, which took the trading range below the 3-day low of $25.73 on volume of 1.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Tanger Factory share prices have been bracketed by a low of $24.71 and a high of $42.20 and are now at $25.11, 2% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.9%.

SmarTrend is tracking the current trend status for Tanger Factory and will alert subscribers who have SKT in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders tanger factory

Ticker(s): SKT