One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Tanger just hit that mark, with a jump from 80 to 83 Tuesday.
This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of above 80 as they begin their biggest price moves.
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Tanger is building a flat base with a 37.57 entry. See if it can clear the breakout price in heavy trade. Note that it's a third-stage base. Such later-stage patterns involve more risk and are more and have a higher likelihood to fail than first- or second-stage consolidations.
The company reported 8% earnings growth in the latest quarterly report. Revenue gains came in at 13%.
Tanger earns the No. 15 rank among its peers in the Finance-Property REITs industry group. Strawberry Fields REIT, American Healthcare REIT and Essential Prop Realty Tr are among the top 5 highly rated stocks within the group.
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