BUY! PROGRESSIVE CORP (PGR) NYSE

  Report No. 1885    Analysis by: Harry Aloof     NOVEMBER 17, 2003

PROGRESSIVE CORP (PGR-NYSE): Technical Viewpoint: From a low of $68.58 on Sep 30, 2003 prices rallied, reaching a high of $75.73 on Oct 16, 2003. A decline saw prices pull back, reaching a low of $70.39 on Oct 23, 2003. Another rally saw prices penetrate resistance, closing 11/14/03 at $79.50. Technicals: Momentum Index (MTM): A Buy Alert! was given on Nov 4, 2003 when the solid line crossed the dotted line to the upside. Support: Remains at $75.25. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Nov 14, 2003. A P&F upside reversal takes place at $78.00. Summary: Technical indicators have turned bullish. BUY! PROGRESSIVE CORP (PGR-NYSE) @ $79.75 Stop: Use a protective stop of $77.13. PROGRESSIVE CORP is currently trading @ $79.50 plus $3.22 on Nov 14, 2003. Price Objective: $89.00. Risk/Reward: $2.62 VS. $9.25. Today's Risk Reward Ratio: 3:1

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

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Price Objective:
$89.00 Risk/Reward:
$2.62 VS. $9.25 Risk/Reward Ratio:
3:1
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