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Look for Shares of Progressive Corp to Potentially Rebound after Yesterday's 5.24% Sell Off

By Nick Russo

Progressive Corp (NYSE:PGR) traded in a range yesterday that spanned from a low of $75.25 to a high of $78.99. Yesterday, the shares fell 5.2%, which took the trading range below the 3-day low of $78.58 on volume of 2.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Progressive Corp have traded between a low of $56.71 and a high of $84.96 and are now at $75.60, which is 33% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.2%.

SmarTrend is monitoring the recent change of momentum in Progressive Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Progressive Corp in search of a potential trend change.

Keywords: rebounders progressive corp

Ticker(s): PGR