Over the last 2 days we saw a low to medium width range finishing on the mids to high on increased volume, suggesting that demand had entered into CCC at these levels.
Today we saw a similar width (smaller then yesterday) range finishing on the low on less volume, although higher then an average of about 25 million. This suggests that supply came into the stock to meet the demand. Who would pay a higher price when there is plenty of stock for sale at these levels?
As such, until the signs of supply are reduced nobody with substantial cash is going to pay more then these levels. There are millions and millions of $'s between here and the previous high waiting to unload and the signs of the demand to take that up isn't yet stronger then the signs of supply.
CCC Price at posting:
68.0¢ Sentiment: Hold Disclosure: Held
