AON unable to break through key resistance level
Aon plc Class A (AON) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
AON ended Thursday at 140.94 gaining $0.95 (0.68%). Trading up to $0.82 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (AON as at May 17, 2018):
Thursday's trading range was $2.27 (1.62%), that's slightly below last trading month's daily average range of $2.34. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.
Unable to break through the key technical resistance level at 140.96, the market closed below it after spiking as high as 141.20 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.
Aon plc shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The share managed to break above the 100-day moving average at 140.29 today for the first time since May 7th.