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 16, 2024)
The Tanger Factory Outlet Centers Inc stock price fell by -1.41% on the last day (Thursday, 16th May 2024) from $28.29 to $27.89. During the last trading day the stock fluctuated 1.83% from a day low at $27.87 to a day high of $28.38. The price has fallen in 6 of the last 10 days and is down by -0.36% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -299 thousand shares and in total, 298 thousand shares were bought and sold for approximately $8.31 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.33% during the next 3 months and, with a 90% probability hold a price between $24.54 and $27.32 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SKT Signals & Forecast
The Tanger Factory Outlet Centers Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $28.05. On a fall, the stock will find some support from the long-term average at approximately $27.84. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -3.53%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Tanger Factory Outlet Centers Inc stock
Tanger Factory Outlet Centers Inc finds support from accumulated volume at $27.46 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.510 (1.83%) between high and low. For the last week, the stock has had daily average volatility of 2.42%.
Our recommended stop-loss: $26.37 (-5.45%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (SKT) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Tanger Factory Outlet Centers Inc to open at $28.05, and during the day (based on 14 day Average True Range), to move between $27.20 and $28.58, which gives a possible trading interval of +/-$0.691 (+/-2.48%) 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 4.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $27.46 (1.54%) than the resistance at $28.81 (3.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tanger Factory Outlet Centers Inc stock A Buy?
Tanger Factory Outlet Centers Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: -0.544 Hold/Accumulate Upgraded
Predicted Opening Price for Tanger Factory Outlet Centers Inc of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $28.05 ( 0.562%) | $27.89 |
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 | 28.56 | 2.39 % | |
| R2 | 28.36 | 1.69 % | ||
| R1 | 28.24 | 1.26 % | ||
| Current price: | 27.89 | |||
| Support | S1 | 27.85 | -0.137 % | |
| S2 | 27.73 | -0.568 % | ||
| S3 | 27.54 | -1.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.80 | 6.85 % | |
| R2 | 28.82 | 3.33 % | ||
| R1 | 28.81 | 3.30 % | ||
| Current price | 27.89 | |||
| Support | S1 | 27.46 | -1.54% | |
| S2 | 27.43 | -1.65% | ||
| S3 | 27.07 | -2.94% |
SKT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 10, 2024 | Apr 29, 2024 | May 15, 2024 | $0.275 | 0.97% |
| 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% |
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