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Technical Analysis
- 11/19/2009 8:56:39 AM
By Chip Brian, SmarTrend Analytics Team
Progressive Insurance (NYSE:PGR) downgraded to Neutral, $18 target, at BofA/Merrill. The stock closed yesterday at $17.05 on volume of 2,289,600 shares, below average daily volume of 3,823,225.
Progressive is currently above its 50-day moving average of $16.65 and above its 200-day moving average of $15.19.
SmarTrend is bullish on shares of PGR and our subscribers received an Uptrend alert on March 18, 2009 at $12.85, which has returned 32.7% to date.
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