Tanger Factory Outlet Centers Inc Stock Forecast
Tanger Factory Outlet Centers Inc stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on May 02, 2024)
The Tanger Factory Outlet Centers Inc stock price gained 2.04% on the last trading day (Thursday, 2nd May 2024), rising from $27.43 to $27.99. During the last trading day the stock fluctuated 1.79% from a day low at $27.80 to a day high of $28.30. The price has risen in 6 of the last 10 days and is up by 4.36% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 202 thousand more shares were traded than the day before. In total, 986 thousand shares were bought and sold for approximately $27.61 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Tanger Factory Outlet Centers Inc stock with a 90% probability to be traded between $26.52 and $29.87 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SKT Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Tanger Factory Outlet Centers Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $28.37 and $28.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -3.08%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Tanger Factory Outlet Centers Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $26.53 and $26.27. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Tanger Factory Outlet Centers Inc finds support just below today's level at $26.53. If this is broken, then the next support from accumulated volume will be at $26.27 and $25.83.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.499 between high and low, or 1.79%. For the last week, the stock has had daily average volatility of 1.98%.
Our recommended stop-loss: $26.66 (-4.75%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (SKT) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Tanger Factory Outlet Centers Inc to open at $28.03, and during the day (based on 14 day Average True Range), to move between $27.33 and $28.65, which gives a possible trading interval of +/-$0.662 (+/-2.36%) up or down from last closing price. If Tanger Factory Outlet Centers Inc takes out the full calculated possible swing range there will be an estimated 4.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $28.64 (2.32%) than the support at $26.53 (5.22%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Tanger Factory Outlet Centers Inc stock A Buy?
Tanger Factory Outlet Centers Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.275 Hold/Accumulate Upgraded
Predicted Opening Price for Tanger Factory Outlet Centers Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $28.03 ( 0.142%) | $27.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SKT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.53 | 1.92 % | |
| R2 | 28.34 | 1.24 % | ||
| R1 | 28.22 | 0.82 % | ||
| Current price: | 27.99 | |||
| Support | S1 | 27.84 | -0.539 % | |
| S2 | 27.72 | -0.96 % | ||
| S3 | 27.53 | -1.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.80 | 6.47 % | |
| R2 | 28.82 | 2.97 % | ||
| R1 | 28.64 | 2.32 % | ||
| Current price | 27.99 | |||
| Support | S1 | 26.53 | -5.22% | |
| S2 | 26.27 | -6.15% | ||
| S3 | 25.83 | -7.72% |
SKT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 10, 2024 | Apr 29, 2024 | May 15, 2024 | $0.275 | 0.98% |
| 2 | Jan 17, 2024 | Jan 30, 2024 | Feb 15, 2024 | $0.260 | 0.94% |
| 3 | Oct 13, 2023 | Oct 30, 2023 | Nov 15, 2023 | $0.260 | 1.02% |
| 4 | Jul 14, 2023 | Jul 28, 2023 | Aug 15, 2023 | $0.245 | 1.00% |
| 5 | Apr 11, 2023 | Apr 27, 2023 | May 15, 2023 | $0.245 | 1.26% |
FAQ
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