PROGRESSIVE CORP (PGR) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:PGR - US7433151039 - Common Stock
Overall PGR gets a technical rating of 2 out of 10. In the past year, PGR was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
Although the technical rating is bad, PGR does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 228.80. Right above this resistance zone may be a good entry point.
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201.65
When analyzing the support we notice one important area.
- A support zone ranging from 203.69 to 205.99. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 228.80 to 233.88. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 250.10 to 252.69. This zone is formed by a combination of multiple trend lines in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for PGR is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for PGR is up. |
| ChartMill Relative Strength | 23.12 | NEGATIVE | PGR has a low relative strength, it was outperformed by 76.88% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of PGR is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of PGR is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of PGR is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 59.24 | NEUTRAL | The RSI value for PGR is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 1.68 | POSITIVE | The MACD value suggests PGR has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 90.76 | OVERBOUGHT | The high Stochastics value suggests PGR may be overbought. |
| Average True Range in percent/ATR (20) | 1.96 | LOW VOLATILITY | The low ATR as a percentage value for PGR suggests low volalility. |
| Average Directional Index/ADX (14) | 22.6 | NEUTRAL | The ADX value for PGR suggests a possible start of a new trend. |
228.79
-0.36 (-0.16%)
PROGRESSIVE CORP / PGR FAQ
What is the technical rating for PGR stock?
ChartMill assigns a technical rating of 2 / 10 to PGR.
What is the trend direction for PGR stock?
The current trend direction for PROGRESSIVE CORP (PGR) is Bearish.
What is the RSI signal for PGR stock?
PROGRESSIVE CORP (PGR) has an RSI value of 59.2353. This indicates that the stock is currently neutral.
What is the short term momentum for PROGRESSIVE CORP (PGR) stock?
The short term momentum for PROGRESSIVE CORP (PGR) is positive.
What is the buy/sell signal for PGR stock?
The buy/sell signal for PROGRESSIVE CORP (PGR) is hold as the short term and long term trends are mixed.