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After Yesterday's Rally of 1.46% Shares Could Potentially Pullback

By David Diaz

Progressive Corp (NYSE:PGR) traded in a range yesterday that spanned from a low of $44.43 to a high of $45.09. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $44.85 on volume of 876,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Progressive Corp have traded between a low of $30.54 and a high of $45.03 and are now at $44.94, which is 47% above that low price. The 200-day and 50-day moving averages have moved 0.15% higher and 0.25% higher over the past week, respectively.

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 35.4%. We continue to monitor PGR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders progressive corp

Ticker(s): PGR