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PGR - Progressive Corporation (The)

Industry: Property & Casualty Insurance Sector: Financial Exchange: NYSE

PGR - Progressive Corporation (The)

Industry: Property & Casualty Insurance Sector: Financial Exchange: NYSE
#122()/6403

Fri 19'th Jan 2018

PERIOD 2017-10-20 - 2018-01-19
CHANGE 0.65%
PRICE $57.66
VOLUME
Buy
TREND
Buy

MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Sell

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Progressive Corporation (The) Stock Analysis

Technical stock analysis for Fri 19'th Jan 2018

Shorts 3.03% ( 2017-12-29 )
Cash n/a
Loans n/a
Beta 0.91
ROA 3.86
Buy candidate since 2018-01-04 Gain 4.23%

Progressive Corporation (The) gained 0.65% in the last trading day, rising from $57.29 to $57.66 , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. The price has risen in 8 of the last 10 days and is up by 4.23% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 1.85 million more shares were traded than the day before. In total, 3.82 million shares bought and sold for approximately $220.42 million.

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Trend

Progressive Corporation (The) lies in the middle of a narrow and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 18.44% during the next 3 months and, with 90% probability hold a price between $67.29 and $69.41 at the end of this period.

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Signals

Only positive signals in the chart today. Progressive Corporation (The) holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $56.53 and $55.48. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday January 04, 2018, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.

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Relative Strength Index (RSI)

RSI14 is 63 and the stock is currently not being overbought or oversold

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Support & Resistance

Progressive Corporation (The) finds support from accumulated volume at $56.17. There is no resistance from accumulated volume above today's level and given the right condition the stock may perform very well during the next couple of days.

Support: $56.17 Price: $57.66

Risk

This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.51 (0.89%) between high and low. For the last week, the stock has had a daily average volatility of 1.28%.

Since the Progressive Corporation (The) has been rising for 6 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stoploss: $54.77 (-5.01%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 10 days ago.)

Overall risk:

Very Low Low Medium High Very High

Evaluation

Progressive Corporation (The) holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.

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