Progressive Corporation (PGR), currently holding the #1 position on the SIA S&P 500 Index Report, and has been in the favored position for the past year as seen in the attached SIA matrix position chart, demonstrating strong relative performance within the S&P 500 Index. The company has shown impressive absolute returns with an 8.03% gain in the last month, 14.84% in the last quarter, and 20.68% year-to-date, significantly outperforming the SIA Equal Weight Indexed S&P 500 benchmark (EWIIVV), which posted losses of -4.70% in the month, -4.77% in the quarter, and -1.39% year-to-date. With a low beta of 0.35, Progressive’s stock may be prone to exhibiting lower volatility compared to the broader market, potentially positioning it as less risky. Technically, the candlestick chart may point to trend support at $240 (see black trend line), resistance near $280, and additional support levels at $260 and $230, with current prices approaching resistance. Progressive, the second-largest auto insurer in the U.S. after State Farm, offers a broad range of insurance products, including coverage for vehicles, motorcycles, RVs, boats, and commercial vehicles, along with home, life, and pet insurance through partner companies. Given its strong market performance, stability, and growth potential, Progressive may be an appealing consideration for investors.
Progressive (PGR) has demonstrated strong performance on the point and figure analytics, with its stock showing solid relative strength and a perfect SIA SMAX score of 10 out of 10. This may indicate strong short-term performance across all asset classes, even amidst recent market fluctuations. The company’s technical setup, highlighted by an 8-year point and figure (P&F) chart, might reveal key support levels at $263.04, $233.57, and $220.10 (green lines), with resistance at $314.36 and $327.06, based on vertical counts from prior consolidations (red lines). Against the backdrop of the insurance sector, which is favored in the top 25% within the SIA Sector Report, Progressive’s performance is relatively well positioned within a strong sector of opportunity. The power of point and figure charts lies in their ability to filter out time-based noise, focusing purely on price movements to provide clear, actionable insights into long-term trends and breakout points. For investors looking to leverage these insights, SIACharts offers the tools and analytics needed to make informed, data-driven decisions. Sign up for a FREE trial today and discover how SIACharts can transform your advisory practice.
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