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Progressive Corp (PGR) Approaches New Downside Target of $71.86

By James Quinn

Progressive Corp (NYSE:PGR) has opened bearishly below the pivot of $72.34 today and has reached the first level of support at $72.05. Investors may be interested in a cross of the next downside pivot targets of $71.86 and $71.38.

In the past 52 weeks, shares of Progressive Corp have traded between a low of $56.71 and a high of $73.78 and are now at $72.25, which is 27% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has risen 0.2%.

Based on a current price of $72.25, Progressive Corp is currently 13.5% above its average consensus analyst price target of $62.50. Progressive Corp shares have support at the 50-day moving average (MA) of $68.43 and additional support at the 200-day MA of $65.67.

SmarTrend recommended that subscribers consider buying shares of Progressive Corp on January 16th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $62.25. Since that recommendation, shares of Progressive Corp have risen 16.3%. We continue to monitor PGR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts progressive corp

Ticker(s): PGR