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Aon Corp. (AON) |
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Aon Corp. (AON). During the week, the AON dropped -16.45 points, or -5.03%, and closed at 310.67 on Friday, May 26, 2023. Weekly volume was -19% below average.
 Long-term trend: [See AON long-term trend chart]
A long-term uptrend had started on August 8, 2002 at 13.30 and reached 341.98 on April 21, 2022. AON gained -328.68 points, or -2471.28%, in 1028 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (75.80) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See AON medium-term trend chart]
A medium-term uptrend had started on September 22, 2011 at 39.68 and reached 341.98 on April 21, 2022. AON gained -302.30 points, or -761.84%, in 552 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 188.78 and resistance is at 384.00. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See AON weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since April 6, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See AON short-term trend chart]
A short-term uptrend had started on March 15, 2023 at 280.89 and reached 338.27 on May 12, 2023. AON gained -57.38 points, or -20.43%, in 58 days. The chart has formed a Rising Wedge chart pattern. The uptrend support line (334.98) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. AON may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a short-term trend.
 Daily Technical Indicators: [See AON daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since May 15, 2023. The distance between MACD and the signal line is near its high and getting bigger.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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