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Archive
- 4/5/2024 -
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Progressive Corp. (PGR) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a fifth consecutive positive week for the Progressive Corp. (PGR). During the week, the PGR gained 4.18 points, or 2.02%, and closed at 211.00 on Friday, April 5, 2024. Weekly volume was -6% below 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 212.24 on April 4, 2024. PGR gained -202.48 points, or -2074.59%, in 786 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (42.70) 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 212.24 on April 4, 2024. PGR gained -189.71 points, or -842.03%, in 530 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (123.38) 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 Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Relative Strength Index, 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. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. 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 December 15, 2023 at 149.14 and reached 212.24 on April 4, 2024. PGR gained -63.10 points, or -42.31%, in 111 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 206.32 and resistance is at 216.55. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a short-term trend.
 Daily Technical Indicators: [See PGR daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Daily 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 daily Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.
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.
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