PGR breaks below 20-day moving average

Progressive Corporation (PGR) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team


PGR dominated by bears dragging the market lower throughout the day
PGR breaks below 20-day moving average
PGR ends the day on a bearish note closing near the low of the day
PGR breaks below previous session low
PGR falls to lowest close since May 29th


PGR ended Thursday at 61.89 losing $0.63 (-1.01%). Today's closing price of 61.89 marks the lowest close since May 29th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Wednesday's low at 62.15, the share confirms its breakout through the previous session's low having traded $0.45 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily Candlestick Chart (PGR as at Jun 14, 2018):

Daily technical analysis candlestick chart for Progressive Corporation (PGR) as at Jun 14, 2018

Thursday's trading range was $1.27 (2.02%), that's slightly above last trading month's daily average range of $1.02. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly above average.

In spite of a strong opening the market closed below the prior day's open and close, forming a bearish Engulfing Candle.

Prices are trading close to a key support level at 61.25. Prices are trading close to the key resistance level at 62.67.

Although Progressive Corp. is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive. The stock broke below the 20-day moving average at 62.22 today for the first time since June 12th.

Market Conditions for PGR as at Jun 14, 2018

Loading Market Conditions for PGR (Progressive Corporation)...
Latest Report:

PGR runs into sellers again around 78.46

May 17, 2019
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