Tanger Inc (SKT) Stock Hit Oversold Levels: Time to Buy?

Tanger Inc (SKT) shares have entered oversold territory as their RSI drops to 29.7. This decline might signal a potential buying opportunity for bullish investors looking for recovery in the stock after heavy selling pressure.

Date: 23-01-2025

AI Rating: 6

Relative Strength Index (RSI)
The report indicates that Tanger Inc (SKT) has reached an RSI of 29.7, which classifies the stock as oversold. This is significant for investors as an RSI reading below 30 often suggests that the stock has been deeply oversold. This could indicate a reverse trend where the stock has the potential to recover, drawing in bullish investors looking for buying opportunities.

Additionally, the report provides a look at SKT's 52-week price range, with a low of $25.67 and a high of $37.57. Currently trading at $32.65, this shows that although it is much higher than its low point, it is still below the high, potentially making it an attractive buy for those who believe in the stock's recovery.

The S&P 500 ETF (SPY) has an RSI of 60.7, which highlights that the overall market is not experiencing the same level of selling pressure as SKT. This discrepancy may attract investors to SKT, hoping for a rebound as selling pressure alleviates.

Stocks: SKT SPY