Aon plc Stock Forecast
Weaker technical forecast for Aon plc as stock downgraded to Hold/Accumulate.
(Updated on Apr 25, 2024)
The Aon plc stock price fell by -0.92% on the last day (Thursday, 25th Apr 2024) from $308.83 to $306.00. During the last trading day the stock fluctuated 1.36% from a day low at $304.00 to a day high of $308.15. The price has been going up and down for this period, and there has been a -1.61% loss for the last 2 weeks. Volume has increased on the last day by 714 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $413.10 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $305.51 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 3.98% during the next 3 months and, with a 90% probability hold a price between $317.67 and $351.41 at the end of this 3-month period.
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AON Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.641%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Aon plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $308.77 and $318.31. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Aon plc stock
Aon plc finds support from accumulated volume at $301.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $4.15 between high and low, or 1.36%. For the last week, the stock has had daily average volatility of 1.07%.
Our recommended stop-loss: $289.93 (-5.25%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (AON) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Aon plc to open at $306.05, and during the day (based on 14 day Average True Range), to move between $301.41 and $310.59, which gives a possible trading interval of +/-$4.59 (+/-1.50%) up or down from last closing price. If Aon plc takes out the full calculated possible swing range there will be an estimated 3.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $301.90 (1.34%) than the resistance at $314.37 (2.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Aon plc will release earnings BMO on Friday, April 26, 2024.The consensus among the analysts for the expected earnings (EPS) is $5.86. We will update the financials statements for Aon plc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.61% in the first trading day after earnings release.
Is Aon plc stock A Buy?
Aon plc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.596 Hold/Accumulate Downgraded
Predicted Opening Price for Aon plc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $306.05 ( 0.0164%) | $306.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AON
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 310.20 | 1.37 % | |
| R2 | 308.61 | 0.85 % | ||
| R1 | 307.64 | 0.534 % | ||
| Current price: | 306.00 | |||
| Support | S1 | 304.47 | -0.501 % | |
| S2 | 303.49 | -0.82 % | ||
| S3 | 301.90 | -1.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 318.99 | 4.25 % | |
| R2 | 314.77 | 2.87 % | ||
| R1 | 314.37 | 2.74 % | ||
| Current price | 306.00 | |||
| Support | S1 | 301.90 | -1.34% | |
| S2 | 296.61 | -3.07% | ||
| S3 | 292.40 | -4.44% |
AON Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 30, 2024 | Apr 30, 2024 | May 15, 2024 | $0.675 | 0.221% |
| 2 | Jan 10, 2024 | Jan 31, 2024 | Feb 15, 2024 | $0.615 | 0.196% |
| 3 | Oct 13, 2023 | Nov 01, 2023 | Nov 15, 2023 | $0.615 | 0.187% |
| 4 | Oct 13, 2023 | Oct 31, 2023 | Nov 15, 2023 | $0.615 | 0.187% |
| 5 | Jul 13, 2023 | Jul 31, 2023 | Aug 15, 2023 | $0.615 | 0.194% |
FAQ
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