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Progress Seen in Progressive's Chart

NEW YORK (TheStreet) -- All those commercials for Progressive insurance must be working. Progressive (PGR - Get Report) broke out to the upside in June, and has continued up, to break out over its 2005 highs.

Everything appears to be in alignment in the chart above. Prices are above the rising 50-day and 200-day moving averages. The On-Balance-Volume (OBV) broke out to the upside with prices. PGR is a little extended, so traders should probably look to buy a dip below $32.50 or so and a sell-stop below $30.

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In the long-term chart of PGR above, we can see prices have broken above the 2005 peak. Impressive.

TheStreet Ratings team rates PROGRESSIVE CORP-OHIO as a Buy with a ratings score of A+. TheStreet Ratings Team has this...