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Progressive Crosses Above its 10-day MA (PGR)

By Nick Russo

Progressive (NYSE:PGR) crossed over its 10-day moving average of $32.95 on a volume of 534K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Progressive have traded between a low of $26.44 and a high of $35.54 and are now at $33.06, which is 25% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Progressive on April 14th, 2016 by issuing a Downtrend alert when the shares were trading at $33.68. Since that call, shares of Progressive have fallen 3.2%. 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