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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. Yesterday's price range of $109.95 and $111.16 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. 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.

AON share prices have moved between a 52-week high of $113.78 and a 52-week low of $83.83 and closed yesterday at 32% above that low price at $110.70 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.

AON (NYSE:AON) defies analysts with a current price ($110.70) 7.1% above its average 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.

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.

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

Keywords: bullish am inside day candle

Ticker(s): AON