lol...I'll jump in again...those who like to "bottom-feed"...find stocks that they think have bottomed...or stocks that have been oppressed for awhile and are now looking to make a move towards or above the 200 day moving average...many of these traders may want to call up a yearly chart...to find out where the stock has been......if many months have passed since old highs than that resistance "weakens" as these investors have likely moved on OR averaged down and their original entry price is no longer the same. When a stock has to make a move to the upside and it has recently within the last 26 to 52 weeks been "hammered" or "punished" then it takes more volume and energy for the stock to move up through these resistance levels as there may be many and there are still "bagholders" who merely want to get out. This is why new 52 week high breakouts are fun for traders to play as there is no overhead resistance to work through.
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