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AON unable to break through key resistance level


Technical Analysis Report for AON - May 17, 2018 [< 1 min read]
Highlights
AON closes above its opening price after recovering from early selling pressure
AON pushes through 100-day moving average
AON unable to break through key resistance level
AON ends the day on a bullish note closing near the high of the day
AON closes within previous day's range
TQ Sentiment
Technical Forecast:
Overview

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 chart for AON
Volatility

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.

Support/Resistance

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.

Trend

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.

Conclusion

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

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bounced off Technical Resistance R1 TQ Pro Members Only
Bullish Break through SMA 100 TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
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