On Tuesday, Tanger earned a positive adjustment to its Relative Strength (RS) Rating, from 74 to 81.
This proprietary rating tracks market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
History shows that the best stocks typically have an RS Rating of above 80 as they launch their biggest price moves.
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Tanger has climbed more than 5% past a 29.98 entry in a second-stage flat base, meaning it's now out of a proper buy zone. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Tanger posted 4% EPS growth in its most recent report. Revenue increased 10%. Look for the next report on or around Apr. 30.
The company earns the No. 18 rank among its peers in the Finance-Property REITs industry group. CareTrust REIT, Legacy Housing and Ventas 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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