AON declines to lowest close since August 2nd
Aon plc (AON) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
Moving lower for the 4th day in a row, AON finished the week -0.95% lower at 141.76 after losing $1.22 (-0.85%) today. Today's closing price of 141.76 marks the lowest close since August 2nd. Closing below Thursday's low at 142.70, the market confirms its breakout through the previous session's low having traded $1.56 below it intraday.
Daily Candlestick Chart (AON as at Aug 10, 2018):
Friday's trading range was $1.07 (0.75%), that's below last trading month's daily average range of $1.60. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average.
Breaking below the key support level at 141.89 today, it is now likely to act as resistance going forward. After trading as low as 141.14 during the day, Aon plc found support at the 100-day moving average at 141.58.
The share shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish. The stock broke below the 50-day moving average at 141.84 today for the first time since August 2nd.