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After Yesterday's Decline of 9.19%, Tanger Factory Offers Investors Better Value

By Nick Russo

Tanger Factory (NYSE:SKT) traded in a range yesterday that spanned from a low of $5.53 to a high of $6.36. Yesterday, the shares fell 9.2%, which took the trading range below the 3-day low of $5.99 on volume of 3.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Tanger Factory has traded in a range of $4.05 to $18.82 and is now at $5.55, 37% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 4.6% while the 200-day MA has slid 1.1%.

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