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Progressive Corp Bearish Moving Average Crossover Alert (PGR)

By James Quinn

Today, shares of Progressive Corp (NYSE:PGR) have crossed bearishly below their 10-day moving average of $47.54 on a volume of 366K 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, Progressive Corp share prices have been bracketed by a low of $30.54 and a high of $48.04 and are now at $47.41, 55% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

SmarTrend recommended that subscribers consider buying shares of Progressive Corp on October 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $32.82. Since that recommendation, shares of Progressive Corp have risen 45.3%. 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