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SmarTrend Watching for Potential Rebound in Shares of Progressive Corp After 1.80% Loss

By Amy Schwartz

Progressive Corp (NYSE:PGR) traded in a range yesterday that spanned from a low of $81.07 to a high of $82.39. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $82.33 on volume of 1.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Progressive Corp on May 16th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $78.04. Since that recommendation, shares of Progressive Corp have risen 5.8%. We continue to monitor PGR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Progressive Corp share prices have been bracketed by a low of $56.71 and a high of $84.30 and are now at $81.23, 43% above that low price. The 200-day and 50-day moving averages have moved 0.34% higher and 0.82% higher over the past week, respectively.

Keywords: rebounders progressive corp

Ticker(s): PGR