PGR stock price forecast – PROGRESSIVE CORPORATION (THE) – Updated March 8, 2023

PGR stock price forecast - PROGRESSIVE CORPORATION (THE) -
PGR stock price forecast - PROGRESSIVE CORPORATION (THE) -
PGR stock price forecast – PROGRESSIVE CORPORATION (THE) –

The stock price of PGR (PROGRESSIVE CORPORATION (THE)) fluctuated around $145.9 today. The price of PGR stock is still in an upward trend and consistently standing on the monthly candle trend line. It has been the 7th consecutive weekly candle that the stock price closed with an increase, and the RSI index of the weekly chart has touched the oversold area. The price may undergo a slight correction toward the trend line of the weekly chart to absorb this price increase.

Trading idea: Investors and traders can wait to buy PGR when the price drops to the middle line of the Bollinger chart at $135. Buying at this price will be more beneficial for stop-loss purposes. Stop-loss should be set when the price closes below $125. Take profit when the price reaches $173. Note that, due to continuous growth, the price may break out strongly upwards and investors may miss the trading opportunity. However, we advise investors to consider buying at this price level as the probability of the price correcting towards the weekly trend line is high.

Progressive Corp. is an insurance holding firm that provides personal and commercial auto insurance, as well as residential property insurance. It also offers specialty property-casualty and insurance services. It operates in the following segments: Personal Lines and Commercial Lines. Property is its primary focus. Personal Lines includes direct and agency businesses. The Commercial Lines segment provides primary liability and physical damages insurance for automobiles or trucks owned and operated primarily by small businesses in the auto, for hire transportation, contractor and for-hire speciality, tow and for-hire lifery markets. The Property segment provides residential property insurance for homeowners and renters, as well as other property owners. The company was established in Mayfield Village, OH on March 10, 1937.

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