Nov. 15 at 8:00 AM
$PGR: The current market context shows a last close of
$225.18, with an RSI of 62.04 indicating that the stock is nearing overbought territory but still has room for upward movement. The MA30 at
$222.32 is below the current price, suggesting short-term bullish momentum, while the MA50 at
$231.07 indicates potential resistance ahead. The recent 60D high of
$252.82 provides an upper target, while the 60D low of
$199.90 sets a strong support level.
Directional bias leans bullish due to the price being above the MA30 and the RSI indicating strength. Suggested entry is at
$226.00 to capture upward momentum. Set a stop loss at
$221.00 to manage risk. Target 1 is
$240.00, aligning with the MA50, and Target 2 is
$250.00, approaching the recent high.
This plan allows for a strategic entry while managing risk effectively.
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