After Plunging -7.21% in 4 Weeks, Here's Why the Trend Might Reverse for Tanger (SKT)

Group 1 - The core viewpoint is that Tanger (SKT) has experienced significant selling pressure, resulting in a 7.2% decline over the past four weeks, but it is now in oversold territory, indicating potential for a rebound [2][6] - The Relative Strength Index (RSI) for SKT is currently at 29.46, suggesting that the stock is nearing a reversal point as the heavy selling appears to be exhausting itself [6] - Analysts have raised earnings estimates for SKT by 0.4% over the last 30 days, which typically correlates with price appreciation in the near term [4] Group 2 - SKT holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, indicating a strong potential for a turnaround [4] - The combination of technical indicators like RSI and positive earnings revisions suggests that SKT may soon return to its previous equilibrium of supply and demand [6]