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Archive
- 11/8/2024 -
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Progressive Corp. (PGR) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week after 4 consecutive negative weeks for the Progressive Corp. (PGR). During the week, the PGR gained 18.80 points, or 7.75%, and closed at 261.50 on Friday, November 8, 2024. Weekly volume was 8% above average.
PGR is a member of Financials Sector. Financials is the most overbought sector. 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 263.40 on November 8, 2024. PGR gained -253.64 points, or -2598.77%, in 817 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (43.96) 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 February 4, 2014 at 22.53 and reached 263.40 on November 8, 2024. PGR gained -240.87 points, or -1069.11%, in 561 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (131.50) 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 medium-term trend.
 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. 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 link to access Williams' Percentage Range help.
The weekly MACD line is below its signal line since October 25, 2024. 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 November 5, 2024 at 239.50 and reached 263.40 on November 8, 2024. PGR gained -23.90 points, or -9.98%, in 3 days. The price is now at the 7.95% retracement level.
 Daily Technical Indicators: [See PGR daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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.
The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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 price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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.
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