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Watch for Progressive Corp to Potentially Rebound After Falling 6.76% Yesterday

By Shiri Gupta

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.

In the past 52 weeks, shares of Progressive Corp have traded between a low of $56.71 and a high of $84.96 and are now at $71.96, which is 27% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.3%.

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