• Return to Headlines

Progressive Corp Rises 1.97% on Heavy Volume: Watch For Potential Pullback

By David Diaz

Progressive Corp (NYSE:PGR) traded in a range yesterday that spanned from a low of $62.15 to a high of $64.77. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $63.14 on volume of 1.6 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 $64.77 and a 52-week low of $43.14 and are now trading 46% above that low price at $63.15 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.2%.

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 9.4%. 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