One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Tanger cleared that benchmark Tuesday, with a jump from 79 to 84 Tuesday.
This unique rating tracks technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against other publicly traded companies.
History reveals that the best stocks tend to have an RS Rating north of 80 as they begin their biggest runs.
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Tanger is trying to complete a double bottom with a 36.76 buy point. See if the stock can clear the breakout price in heavy trading. It's a later-stage pattern, and investors should be aware that those are less likely to work.
Tanger posted 4% EPS growth in the latest quarterly report. Revenue gains came in at 10%. The next quarterly results are expected on or around Apr. 30.
Tanger earns the No. 16 rank among its peers in the Finance-Property REITs industry group. CareTrust REIT, Essex Property Trust and Curbline Properties are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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