PGR looks to be rolling over from the double top at new highs. MACD diverging down and the slope seems to indicate PGR should be at just over $80. The pattern took 25 trading days and isnt as even a V-shape as we look for, but going to grab some July 19 80 puts just after the open today. Target to sell before end of the week.
NYSE:PGR Buy above yesterday's high. see the chart.
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Please note that this information is not a recommendation to buy or sell. It is to be used for educational purposes only.
PGR
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....
Flag
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)...
