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Bearish Moving Average Cross by Progressive Corp (PGR)

By David Diaz

Today, shares of Progressive Corp (NYSE:PGR) have fallen below their 10-day MA of $83.50 on a volume of 2.1 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Progressive Corp have traded between a low of $56.71 and a high of $84.96 and are now at $80.64, which is 42% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Progressive Corp on May 16th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $78.04. Since that recommendation, shares of Progressive Corp have risen 7.8%. We continue to monitor PGR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses progressive corp

Ticker(s): PGR