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SmarTrend Watching for Potential Pullback in Shares of Progressive Corp After 1.16% Gain

By Shiri Gupta

Progressive Corp (NYSE:PGR) traded in a range yesterday that spanned from a low of $80.49 to a high of $81.18. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $80.42 on volume of 1.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Progressive Corp has traded in a range of $56.71 to $81.18 and is now at $80.71, 42% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.6%.

SmarTrend is tracking the current trend status for Progressive Corp and will alert subscribers who have PGR in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders progressive corp

Ticker(s): PGR