A lot of the reason CNP went against the trend, was the other day when it really fell to 24c t was on low volume and with and stop losses being executed.(People taken by surprise)
The next day the same people who were stopped out bought back in , for numerous reasons, the fear of missing a good stock, belief in the company , whatever , but they bought back in.
Now its another red day for the market but the CNP shareholders who were stopped out before are either not going to fall for that mistake again, or they are not back in, and the rest of the shareholders have either paid more for their stock and don't want to capitalise their loss or they, like most on here have faith in their holding. !!
Selmax although this isn't the thread for it i will show you the chart to explain why the ASX has done what its done as well.
CNP Price at posting:
29.5¢ Sentiment: ST Buy Disclosure: Held
