Relative Strength Insurer Nearing Breakout Higher
Progressive (PGR) shares remaining in a strong uptrend and closed green +2% in Thursdays market mess as the insurance name closed above monthly value and now looks poised to retest the 293 recent highs while a stronger breakout could target 300 at the round number. PGR seeing a bull MACD cross trigger higher as well as momentum stays strong in the defensive insurer name. Recent buyer of 300 Sept $310 calls at $14 still holds in OI.