• Return to Headlines

Progressive Looks to Continue to Trade Above its Annual-High Share Price Today

By Shiri Gupta

Progressive (NYSE:PGR) traded today at a new 52-week high of $41.56. So far today approximately 767,000 shares have been exchanged, as compared to an average 30-day volume of 3.1 million shares.

Over the past year, Progressive has traded in a range of $26.67 to $41.56 and is now at $41.54, 56% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.

Based on a current price of $41.54, Progressive is currently 9.2% above its average consensus analyst price target of $37.71. The stock should find initial support at its 50-day moving average (MA) of $33.70 and further support at its 200-day MA of $31.73.

The Progressive Corporation is an insurance holding company. The Company, through its subsidiaries, provide personal and commercial automobile insurance and other specialty property-casualty insurance and related services throughout the United States.

SmarTrend recommended that subscribers consider buying shares of Progressive 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 have risen 25.4%. We continue to monitor PGR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Progressive

Ticker(s): PGR