The Relative Strength (RS) Rating for Tanger moved up into a higher percentile Tuesday, as it got a lift from 70 to 79.
IBD's proprietary RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matched up against all other stocks.
History reveals that the market's biggest winners often have an 80 or better RS Rating as they launch their biggest runs. See if Tanger can continue to rebound and clear that threshold.
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Tanger is working on a consolidation with a 37.57 buy point. See if the stock can clear the breakout price in volume at least 40% higher than normal. It's a later-stage pattern, and investors should be aware that those involve more risk.
The company showed 4% earnings growth in the latest quarterly report, while sales growth came in at 10%.
Tanger holds the No. 23 rank among its peers in the Finance-Property REITs industry group. CareTrust REIT, Essex Property Trust and Legacy Housing 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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