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Look for Shares of Tanger Factory to Potentially Rebound after Yesterday's 4.07% Sell Off

By James Quinn

Tanger Factory (NYSE:SKT) traded in a range yesterday that spanned from a low of $19.07 to a high of $19.59. Yesterday, the shares fell 4.1%, which took the trading range below the 3-day low of $19.85 on volume of 1.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

Over the past year, Tanger Factoryhas traded in a range of $19.07 to $24.91 and are now at $19.07. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.7%.

Keywords: rebounders tanger factory

Ticker(s): SKT