Progressive Corporation (The) Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Wednesday for Progressive Corporation (The) stock after losing 0.85%
(Updated on Apr 24, 2024)
The Progressive Corporation (The) stock price fell by -0.85% on the last day (Wednesday, 24th Apr 2024) from $214.02 to $212.20. During the last trading day the stock fluctuated 2.53% from a day low at $209.79 to a day high of $215.10. The price has risen in 7 of the last 10 days and is up by 2.93% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -45 thousand shares and in total, 3 million shares were bought and sold for approximately $537.08 million.
The stock 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 20.90% during the next 3 months and, with a 90% probability hold a price between $251.09 and $261.74 at the end of this 3-month period.
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PGR Signals & Forecast
The Progressive Corporation (The) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 $211.59 and $206.04. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -1.16%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Progressive Corporation (The) stock
Progressive Corporation (The) finds support from accumulated volume at $206.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $5.31 between high and low, or 2.53%. For the last week the stock has had daily average volatility of 1.72%.
Our recommended stop-loss: $203.09 (-4.29%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (PGR) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Progressive Corporation (The) to open at $212.36, and during the day (based on 14 day Average True Range), to move between $208.47 and $215.93, which gives a possible trading interval of +/-$3.73 (+/-1.76%) up or down from last closing price. If Progressive Corporation (The) takes out the full calculated possible swing range there will be an estimated 3.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $213.00 (0.38%) than the support at $206.15 (2.85%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Progressive Corporation (The) stock A Buy?
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 Progressive Corporation (The) stock to perform well in the short-term.
Current score: 2.943 Buy Candidate Unchanged
Predicted Opening Price for Progressive Corporation (The) of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $212.36 ( 0.0762%) | $212.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PGR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 217.67 | 2.58 % | |
| R2 | 215.64 | 1.62 % | ||
| R1 | 214.39 | 1.03 % | ||
| Current price: | 212.20 | |||
| Support | S1 | 210.34 | -0.88 % | |
| S2 | 209.08 | -1.47 % | ||
| S3 | 207.06 | -2.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 214.69 | 1.17 % | |
| R2 | 214.02 | 0.86 % | ||
| R1 | 213.00 | 0.377 % | ||
| Current price | 212.20 | |||
| Support | S1 | 206.15 | -2.85% | |
| S2 | 204.88 | -3.45% | ||
| S3 | 203.90 | -3.91% |
PGR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 04, 2024 | Apr 03, 2024 | Apr 12, 2024 | $0.100 | 0.0490% |
| 2 | Dec 01, 2023 | Jan 18, 2024 | Jan 26, 2024 | $0.750 | 0.418% |
| 3 | Aug 04, 2023 | Oct 04, 2023 | Oct 13, 2023 | $0.100 | 0.0645% |
| 4 | May 12, 2023 | Jul 06, 2023 | Jul 14, 2023 | $0.100 | 0.0856% |
| 5 | Mar 03, 2023 | Apr 05, 2023 | Jul 14, 2023 | $0.100 | 0.0856% |
FAQ
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