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SmarTrend Watching for Potential Rebound in Shares of Progressive Corp After 6.76% Loss

By David Diaz

Progressive Corp (NYSE:PGR) traded in a range yesterday that spanned from a low of $71.29 to a high of $72.43. Yesterday, the shares fell 6.8%, which took the trading range below the 3-day low of $75.40 on volume of 6.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

Progressive Corp share prices have moved between a 52-week high of $84.96 and a 52-week low of $56.71 and are now trading 27% above that low price at $71.96 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has risen 0.3%.

Keywords: rebounders progressive corp

Ticker(s): PGR