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Progressive Corp (PGR) Breaks Through Support at $71.97

By Nick Russo

Progressive Corp (NYSE:PGR) has opened bearishly below the pivot of $72.74 today and has reached the first level of support at $71.97. Investors may be interested in a cross of the next downside pivot targets of $71.37 and $70.00.

In the past 52 weeks, Progressive Corp share prices have been bracketed by a low of $62.18 and a high of $84.96 and are now at $71.81, 15% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

Progressive Corp (NYSE:PGR) is currently priced 13.0% above its average consensus analyst price target of $62.50. The stock should find initial resistance at its 200-day moving average (MA) of $75.64 and further resistance at its 50-day MA of $76.47.

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: pivot alerts progressive corp

Ticker(s): PGR