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Watch for Continued Gains in Shares of Progressive Corp (PGR)

By Amy Schwartz

Progressive Corp (NYSE:PGR) traded today at a new 52-week high of $61.45. This new high was reached on below average trading volume as 531,000 shares traded hands, while the average 30-day volume is approximately 3.1 million shares.

Progressive Corp share prices have moved between a 52-week high of $61.45 and a 52-week low of $30.54 and are now trading 101% above that low price at $61.38 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

Progressive Corp (NYSE:PGR) is currently priced 5.4% above its average consensus analyst price target of $58.06. The stock should discover initial support at its 50-day moving average (MA) of $33.70 and subsequent 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 Corp on February 15th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $56.62. Since that recommendation, shares of Progressive Corp have risen 6.0%. 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 corp

Ticker(s): PGR