Progressive Corp (PGR): Price Now Near $93.72; Daily Chart Shows Downtrend on 20 Day Basis

The Hourly View for PGR

Currently, PGR (Get Ratings)’s price is up $0.21 (0.22%) from the hour prior. This is the 2nd hour in a row PGR has seen its price head up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Out of Insurance stocks, PGR ranks 47th in regards to today’s price percentage change.

PGR’s Technical Outlook on the Daily Chart

At the time of this writing, PGR’s price is up $0.32 (0.34%) from the day prior. PGR has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows PGR’s price action over the past 90 days.

PGR

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PGR: Daily RSI Analysis

  • PGR’s RSI now stands at 23.8806.
  • PGR and RSI both have consistent trends, as they are both heading down.

For PGR News Traders

News traders keeping an eye on PGR may find value in this recent story:

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