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Uptrend ExhaustionArchive - 4/19/2024 - Sign In to see current Signals. |
Progressive Corp. (PGR) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a first positive week for the Progressive Corp. (PGR). During the week, the PGR gained 10.79 points, or 5.29%, and closed at 214.69 on Friday, April 19, 2024. Weekly volume was 31% 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 215.18 on April 19, 2024. PGR gained -205.42 points, or -2104.71%, in 788 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (42.79) 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 215.18 on April 19, 2024. PGR gained -192.65 points, or -855.08%, in 532 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (123.92) 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 Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and Lane's Stochastic. 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, Relative Strength Index and Williams' Percentage Range help. The weekly MACD line is above its signal line since August 25, 2023. 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 April 11, 2024 at 202.09 and reached 215.18 on April 19, 2024. PGR gained -13.09 points, or -6.48%, in 8 days. Price is near the trend high. Daily Technical Indicators: [See PGR daily technical indicators chart] Daily technical indicators are neutral. The daily MACD line is below its signal line since March 25, 2024. The distance between MACD and the signal line is low and getting smaller. 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.
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