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Possible Bullish Inside Day Candle Pattern Detected for AON (NYSE:AON)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in AON (NYSE:AON) based on the price action in the company's shares. Today's price range of $101.59 and $102.51 is within yesterday'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. Traders and investors interested in shares of AON may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, AON has traded in a range of $83.83 to $110.04 and is now at $102.39, 22% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.

Aon Corporation is an insurance services holding company. 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 advicing clients related to health and benefits, retirement, compensation, strategic human capital, and human resource outsourcing.

AON (NYSE:AON) has potential upside of 0.4% based on a current price of $102.39 and analysts' consensus price target of $102.79. The stock should find initial support at its 50-day moving average (MA) of $101.83 and further support at its 200-day MA of $95.28.

SmarTrend is monitoring the recent change of momentum in AON. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of AON in search of a potential trend change.

Keywords: bullish inside day candle

Ticker(s): AON