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Possible Bearish Inside Day Candle Pattern Detected for Aon Plc (NYSE:AON)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Aon Plc (NYSE:AON) based on the price action in the company's shares. Yesterday's price range of $145.15 and $147.29 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Aon Plc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 2.6% for shares of Aon Plc based on a current price of $147.63 and an average consensus analyst price target of $151.50. The stock should find resistance at its 50-day moving average (MA) of $154.99, as well as support at its 200-day MA of $147.27.

Aon PLC is a professional services provider. The Company is comprised of risk and insurance brokerage consulting. Aon's services include helping manage risk for clients, negotiating and placing insurance risk with other carriers, and advising clients related to health and benefits, retirement, compensation, strategic human capital, and human resource outsourcing.

In the past 52 weeks, shares of Aon Plc have traded between a low of $133.41 and a high of $166.55 and closed yesterday at $147.63, which is 11% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

SmarTrend is tracking the current trend status for Aon Plc and will alert subscribers who have AON in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle aon plc

Ticker(s): AON