PGV trade ideas
PGR - watchlist - channel setupPGR
I made a mistake 2 weeks ago when I bought this stock thinking it was a breaking out from a flag. Fortunately, I only had a tiny position size and only took a small lose. The chart however is still looking great with a predictable pattern of 1. breaking the the 50ma 2. pulling back to the fib zones 3. and bouncing of the the long term lower trend line.
Horizontal S&R: looking for pullback
Channel S&R: yes, rising up trend.
MA S&R: above both 20 and 50
>200ma: yes
Volume confirmation: ww
Candle Confirmation: ww
Stoch Divergence: no
Reg Trendline > n/a
Shrs Float: 578M
Short Float: 2%
Risk / Reward: 3:1
Zacks Rank: 2-Buy 2 Style Scores: C Value | B Growth | B Momentum | B VGM Industry Rank: Bottom 43%(146 out of 255) Industry: Insurance - Property and Casualty
Latest analyst commentary:
Progressive analyst commentary at MKM Partners Progressive price target raised to $85 from $80 at MKM Partners. MKM Partners analyst Harry Fong raised his price target on Progressive to $85 and kept his Buy rating, citing the 55% increase in its advertising spending disclosed in the company's latest 10-Q filing. The analyst states that this is the biggest increase in advertising since the late 1990's, and contends that the higher rate of spending reflects the management's expectations of Progressive's stronger revenue growth to continue. Fong further notes that competing through higher advertising is preferable for auto insurers over cutting rates since it is "much easier to stop spending the marginal advertising dollar when results are not as expected".
Read more at:
thefly.com
PGR - showing strength in a weak marketFlag
Channel S&R: yes, rising up trend.
MA S&R: above both 20 and 50, breaking out 52w high
>200ma: yes
Volume confirmation: yes
Candle Confirmation: no
Stoch Divergence: no, embed
Reg Trendline > 85: n/a
Short Float: 2%
Risk / Reward: 3:1
Zacks Rank: 2-Buy 2 Style Scores: B Value | A Growth | A Momentum | A VGM Industry Rank: Bottom 32%(174 out of 255) Industry: Insurance - Property and Casualty
progressive corp - long pgr there are 2 dimensions supporting long position on the stock
1. from fundmental point of view the company have high piotrosli f-score of 8.39 (9 is max) and and 2+% dividend
which is sort of safety cusion
2. from technical point of view the company broke up a triangle with a big than usual volume and a high
green candle + the short term EMAs crossed the long term EMAs + CMF is positive
stop (for traders) under the lower trend line
