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Watch for Tanger Factory to Potentially Rebound After Falling 1.22% Yesterday

By James Quinn

Tanger Factory (NYSE:SKT) traded in a range yesterday that spanned from a low of $14.62 to a high of $14.93. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $14.71 on volume of 1.2 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 $21.47. Since that call, shares of Tanger Factory have fallen 31.1%. 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 the current low of $14.65 and a high of $24.91 and are now at $14.68. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.7%.

Keywords: rebounders tanger factory

Ticker(s): SKT