Rick, my comments are predicated on the fact that I only day...

Rick, my comments are predicated on the fact that I only day trade.

As Endless said, look at the entire history of the stock in order to get the broadest of pictures. The potential resistance does fade over time but doesn't completely disappear. This is particularly true in cases where a company's share price climbs sharply with volume and then retreats sharply and holds the lower price range for an extended period of time.

LYC exemplifies this price structure. Between 2010 and 2013, it traded above 5 dollars and as high as 25 dollars. In the past 5 years it has traded between 40 cents and 3.4 dollars. Even if you went back as far as 5 years, you wouldn't get the full picture. Are the people who bought between 5 and 25 dollars still holding? Most probably won't still be around but some will be.

The more you look at charts the more you will start to see to what degree the effect of price/volume action diminishes with the passing of time. People being stuck in a stock from 10 years ago may not have a significant effect on whether it is tradeable tomorrow but it does no harm to see the full picture. It's about reducing the number of surprises.