AON declines to lowest close since August 2nd


Aon plc (AON) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
AON breaks key support level
AON breaks below 50-day moving average
AON finds support at 100-day moving average
AON closes lower for the 4th day in a row
AON breaks below previous session low
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

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 chart for AON
Volatility

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.

Support/Resistance

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.

Trend

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.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Aon plc
Condition Forecast Direction Win Avg Worst Best Events
Bullish Break through SMA 100 TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Strong Up Move TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

AON rockets 1.2% closing $1.70 higher

Aug 16, 2018
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