The Greedy Trader Weekly Analysis
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Archive
- 6/7/2019
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Progressive Corp.
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Summary:
Weekly :Overbought sectorOverbought industryBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overboughtLane's Stochastic bearish divergence
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overbought
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It was a first positive week for the Progressive Corp. (PGR). During the week, the PGR gained 3.90 points, or 4.92%, and closed at 83.18 on Friday, June 7, 2019. Weekly volume was -8% below average.

PGR is a member of Financial Sector. Financial is the most overbought sector. PGR is a member of Prprty/Casualty Insurance Industry. Prprty/Casualty Insurance is the eighth most overbought industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See PGR long-term trend chart]
A long-term uptrend had started on March 10, 2009 at 9.76 and reached 84.30 on June 7, 2019. PGR gained -74.54 points, or -763.73%, in 534 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (33.97) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 December 26, 2018 at 56.71 and reached 84.30 on June 7, 2019. PGR gained -27.59 points, or -48.65%, in 23 weeks. Price is near the trend high.

Weekly Technical Indicators: [See PGR weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since February 8, 2019. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See PGR short-term trend chart]
A short-term uptrend had started on May 13, 2019 at 71.61 and reached 84.30 on June 7, 2019. PGR gained -12.69 points, or -17.72%, in 25 days. The chart has formed a Broadening Ascending Wedge chart pattern.

Daily Technical Indicators: [See PGR daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range.

The daily MACD line is above its signal line since May 15, 2019. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.00
Williams' Percentage Range (W%R) 7.50
Strong Overbought
Lane's Stochastic (%D-Slow) 84.49
Overbought
Greed/Fear Indicator (GFI) 84.33
Overbought
Moving Average Converg./Diverg. (MACD) 1.67
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.80
Williams' Percentage Range (W%R) 4.20
Strong Overbought
Lane's Stochastic (%D-Slow) 71.53
Bearish
Greed/Fear Indicator (GFI) 76.26
Moving Average Converg./Diverg. (MACD) 2.72
Trading Signals
Description Value Chart
Upper Bollinger Band 85.46
Daily Stochastic Crossing 83.82
Price 83.18
Weekly Stochastic Crossing 81.97
Parabolic System 79.46
20 Day Moving Average 79.08
50 Day Moving Average 76.06
Lower Bollinger Band 73.56
Sector and Industry
Description Name Rank
Sector Financial 9
Industry Prprty/Casualty Insurance 156
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 71.61
Low Date 05/13/2019
High 84.30
High Date 06/07/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 56.71
Low Date 12/26/2018
High 84.30
High Date 06/07/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 30.54
Low Date 09/15/2016
High 84.30
High Date 06/07/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 22.53
Low Date 02/04/2014
High 84.30
High Date 06/07/2019
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 42.70
Support 33.97
Low 9.76
Low Date 03/10/2009
High 84.30
High Date 06/07/2019
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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