Hard to tell.From a TA chartis point of view I think one could...

Hard to tell.

From a TA chartis point of view I think one could conclude that there is serious downward pressure as "they" are selling into the ask

From a FA point of view there can be many theories and at this stage this si what am setteling on.

The SP is at a low not seen for a while, the end of financial year has come. Many foks have 2 accounts or more eg trading, investing and SMSF. It is quite plausible that there was an attraction to take the capital loss and since "they" still believe in CNX they have retained but for example have put them into their SMSF for longer term.
This is one likely scenario.

The other is that when shares are issued some companies appear to "free" issue them to the broker who just dumps them and brings that revenue back to the company which they need for building the company. This latter point I am a bit week on and need to do more research if in fact its legal - not sure. In CNX's case I doubt this si happening but there has been a lot of EOF dumping. I think next week will be interesting if my theory is correct