Help us make better tools for you!. Read more (Published: 2017-01-12)

PGR - Progressive Corporation (The) Tue 24'th Jan 2017

Add to Watchlist

Buy Candidate

Score: 4.96

#887 of 5186
Trend:
MV Long:
MV Short:
Pivot:
Volume:
MACD:
Accuracy: 77.42%
Risk: Low
Request Prediction
We need your help. Please answer this short survey to help us improve by clicking HERE.

Stock analysis for Tue 24'th Jan 2017 (Updated daily)

Buy candidate since 2017-01-24

Progressive Corporation (The) Stock Analysis


Progressive Corporation (The) gained 0.47% in the last trading day, rising from USD 36.44 to USD 36.61. The price has risen in 7 of the last 10 days days and is up by 2.49% over the past 2 weeks. Volume fell in the last day by -0.06 million shares and ,in total, 2.94 million shares bought and sold for approximately USD 108 million. You should note that falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.

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 17.7% during the next 3 months and, with 90% probability hold a price between USD 42.43 and USD 44.48 at the end of this period.

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 USD 36.36 and USD 35.45. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday January 17, 2017, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.

Relative Strength Index (RSI)

RSI14 is 68 and the stock is currently not being overbought or oversold

Support & Resistance

Progressive Corporation (The) finds support from accumulated volume at USD 35.72, USD 35.09, and USD 33.44. 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.

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 USD 0.38 (1.05%) between high and low. For the last week, the stock has had a daily average volatility of 1.21%.

Our recommended stoploss: USD 35.35 (-3.44%) ( criteria: risk and closeness to support from trendline.)

Evaluation

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.

Buy Candidate


Want to be one step ahead of others?

Subscribe Now!

Click for pro features list

Want to be one step ahead of others?

Subscribe Now!

Click for pro features list

Chart Explanation

Build Your Watchlist

Add PGR My Watchlist

Weekly Trading Secrets

Recommenended
book of the week

5186
Companies analyzed today