BUY! PROGRESSIVE CORP (PGR) NYSE

  Report No. 1735    Analysis by: Harry Aloof     APRIL 2, 2003

PROGRESSIVE CORP (PGR-NYSE): Technical Viewpoint: From a low of $50.39 on Mar 12, 2003 prices rallied, reaching a high of $60.41 on Mar 21, 2003. A decline saw prices pull back, reaching a low of $58.08 on Mar 27, 2003. Another rally saw prices penetrate resistance, closing 4/1/03 at $61.76. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Feb 24, 2003 when the Histogram crossed the "0" line to the upside. Support: Remains at $59.75. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Mar 20, 2003. A P&F upside reversal takes place at $59.25. Summary: Technical indicators have turned bullish. BUY! PROGRESSIVE CORP (PGR-NYSE) @ $61.88 Stop: Use a protective stop of $59.38. PROGRESSIVE CORP is currently trading @ $61.76 plus $2.30 on Apr 1, 2003. Price Objective: $71.25. Risk/Reward: $2.50 VS. $9.37. Today's Risk Reward Ratio: 4;1

Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study

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Price Objective:
$71.25 Risk/Reward:
$2.50 VS. $9.37 Risk/Reward Ratio:
4;1
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