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Bullish Moving Average Cross by Progressive (PGR)

By David Diaz

Today, shares of Progressive (NYSE:PGR) have crossed bullishly above their 10-day moving average of $31.27 on a volume of 1.0 million shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Progressive share prices have moved between a 52-week high of $35.54 and a 52-week low of $26.67 and are now trading 18% above that low price at $31.44 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Progressive on September 8th, 2016 by issuing a Downtrend alert when the shares were trading at $32.13. Since that call, shares of Progressive have fallen 3.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Progressive

Ticker(s): PGR