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SmarTrend Watching for Potential Rebound in Shares of Tanger Factory After 2.98% Loss

By Amy Schwartz

Tanger Factory (NYSE:SKT) traded in a range yesterday that spanned from a low of $20.11 to a high of $20.60. Yesterday, the shares fell 3.0%, which took the trading range below the 3-day low of $20.72 on volume of 1.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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 3.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, shares of Tanger Factory have traded between a low of $19.76 and a high of $24.91 and are now at $20.11, which is 2% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

Keywords: rebounders tanger factory

Ticker(s): SKT