• Return to Headlines

After Yesterday's Rally of 1.98% Shares Could Potentially Pullback

By Shiri Gupta

Progressive Corp (NYSE:PGR) traded in a range yesterday that spanned from a low of $60.91 to a high of $61.63. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $60.69 on volume of 1.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Progressive Corp share prices have moved between a 52-week high of $61.63 and a 52-week low of $30.54 and are now trading 100% above that low price at $61.20 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.

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: rebounders progressive corp

Ticker(s): PGR