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SmarTrend Watching for Potential Rebound in Shares of Progressive Corp After 2.69% Loss

By James Quinn

Progressive Corp (NYSE:PGR) traded in a range yesterday that spanned from a low of $44.37 to a high of $45.33. Yesterday, the shares fell 2.7%, which took the trading range below the 3-day low of $45.64 on volume of 3.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Progressive Corp share prices have moved between a 52-week high of $49.01 and a 52-week low of $30.54 and are now trading 46% above that low price at $44.58 per share. The 200-day and 50-day moving averages have moved 0.15% higher and 0.25% higher over the past week, respectively.

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