charts/tape reading

The market doesn't care what I or anyone else says.
The market is the final authority of profits or losses.
That's why it's smart to listen closely to what the market has to say.

One way to look at is ignore noise (news) and focus on charts as the resistance/support/hammer/volume is how the market is saying what it wants to say.

Notable 52-wk highs/lows

MCD - @98
Technically : Making higher highs ; recent upside window at 90-91; 3 mo solid support level at 90; The 91 window tested recently and it held well; After that small upside windows from 92-93 and 94-95; Right now it's lil bit overbought and 100 round figure may give some resistance. So the latest window at 94 will act as support on any pullback. There was a shooting star from 98-97 in prior trading session.
Statistics : good defense stock; Beta of 0.4; 200/50 day MA is 88/94; 1B shares float and 72% held by institutions; 9B made on a revenue of 27B! 12B debt is not a big deal as cash flow is huge!
potential safe covered call/sell put candidate because of it's low beta..
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