PGR closes lower for the 3rd day in a row
Progressive Corporation (PGR) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team
Moving lower for the 3rd day in a row, PGR ended the week -1.27% lower at 58.44 after edging lower $0.22 (-0.38%) today. Today's closing price of 58.44 marks the lowest close since March 7th. Closing below Thursday's low at 58.63, Progressive Corp. confirms its breakout through the previous session's low having traded $0.33 below it intraday.
Daily Candlestick Chart (PGR as at Jul 13, 2018):
Friday's trading range was $0.46 (0.78%), that's far below last trading month's daily average range of $0.85. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.
Prices are trading close to a key support level at 58.11. Prices are trading close to the key resistance level at 58.87.
Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.
Trading close to May's low at 58.11 we could see further downside momentum if potential sell stops at the level get activated.