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Archive
- 8/9/2019 -
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Progressive Corp. (PGR)

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Summary:
Weekly :Broken trend resistance lineBroken trend resistance line
Daily :20 Day Moving Average has crossed below the 50 Day Moving AverageThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the Progressive Corp. (PGR). During the week, the PGR gained 0.84 points, or 1.05%, and closed at 80.60 on Friday, August 9, 2019. Weekly volume was -20% below average.

Long-term trend: [See PGR long-term trend chart]
A long-term uptrend had started on March 10, 2009 at 9.76 and reached 84.96 on July 15, 2019. PGR gained -75.20 points, or -770.49%, in 539 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (34.38) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See PGR medium-term trend chart]
A medium-term uptrend had started on February 4, 2014 at 22.53 and reached 84.96 on July 15, 2019. PGR gained -62.43 points, or -277.10%, in 283 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (40.52) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See PGR weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since July 26, 2019. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.

Short-term trend: [See PGR short-term trend chart]
A short-term downtrend had started on July 15, 2019 at 84.96 and reached 77.03 on August 5, 2019. PGR lost 7.93 points, or 9.33%, in 21 days. The chart has formed a Falling Channel chart pattern.

Daily Technical Indicators: [See PGR daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since July 16, 2019. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.24
Williams' Percentage Range (W%R) 64.60
Lane's Stochastic (%D-Slow) 41.39
Greed/Fear Indicator (GFI) 41.69
Moving Average Converg./Diverg. (MACD) -0.41
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.55
Williams' Percentage Range (W%R) 37.70
Lane's Stochastic (%D-Slow) 54.01
Greed/Fear Indicator (GFI) 56.56
Moving Average Converg./Diverg. (MACD) 3.51
Trading Signals
Description Value Chart
Upper Bollinger Band 83.48
Monthly Trendline Resistance 81.42
50 Day Moving Average 81.39
Monthly Trendline Support 80.83
20 Day Moving Average 80.68
Price 80.60
Weekly Stochastic Crossing 80.49
Daily Stochastic Crossing 79.41
Lower Bollinger Band 77.50
Parabolic System 76.95
Sector and Industry
Description Name Rank
Sector Financial 4
Industry Prprty/Casualty Insurance 136
Daily Trend
Description Value
Direction Down
Chart Pattern Falling Channel
High 84.96
High Date 07/15/2019
Low 77.03
Low Date 08/05/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 58.30
Low Date 07/13/2018
High 84.96
High Date 07/15/2019
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 81.42
Support 80.83
Low 30.54
Low Date 09/15/2016
High 84.96
High Date 07/15/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 54.84
Support 40.52
Low 22.53
Low Date 02/04/2014
High 84.96
High Date 07/15/2019
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 43.11
Support 34.38
Low 9.76
Low Date 03/10/2009
High 84.96
High Date 07/15/2019
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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