Progressive Corp Technical Analysis (NYSE:PGR)
Technical analysis is the study of stock price and volume data through technical charts. This analysis does not take into account the intrinsic value of a stock. The PGR stock chart pattern can give those who understand technical analysis an indication of which way PGR stock is headed, but cannot predict with 100% certainty as to what can happen to the Progressive Corp stock price.
You can view Simple Moving Average - SMA 20 day, 50 day & 100 day, Exponential Moving Average - EMA 20 day, 50 day & 100 day charts, and Bollinger Bands for Progressive Corp. Technical analysis essentially tries to study the supply and demand for a particular security and determine the stock trends for that security. Chartists use stock price movements for this form of Progressive Corp stock analysis.
Progressive Corp Moving Average
Moving averages help predict the price direction of PGR stock based on certain triggers, but with a lag, and form building blocks for other technical indicators like the MACD and bollinger bands. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $61.94 is below the price of $67.22.
Progressive Corp Bollinger Bands
Bollinger bands comprise of a center line usually PGR SMA, and two PGR stock price bands above and below it. The stock is considered overbought when the price starts moving closer towards the upper band, and is considered oversold as stock price moves closer towards the lower band. The stock price is trading between the average and the upper band in the context of Progressive Corp bollinger bands.
Progressive Corp Moving Average Convergence Divergence or MACD
The moving average convergence divergence or MACD is a technical indicator which helps assess the stock price trend. Traders usually wait for a confirmed crossover signal before entering into a trading position. Divergence implies that the current stock price trend could come to an end, when the stock price diverges from MACD. The Progressive Corp MACD indicator can be used to identify bullish and bearish trends for the stock.
Progressive Corp Relative Strength Index
This technical indicator compares the relative strength or weakness of a stock. It measures the magnitude of rise or fall in stock price movements . If the RSI of PGR stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.