There JPM is still a >5% shareholder they should report a change in holding within a few days. The latest notice was more than 2 months ago, so there are probably not selling.
Certainly CRK will be sold eventually, but fact is that on the short term a break below 35 cents would increase the downside risk. Unfortunately Carricks break out out of the decline trendline didn't impress the market much. (last monday CRK broke out of the daily high trendline which started 12 January).
Guessing who is holding the share price down isn't my job, but if some big parties think Carricks resource will be difficult to bring into production we could go to down to just above cash backing.
On the other hand, maybe some-one is holding down the share price so an take over bid wouldn't cost to much...
We will wait and see, happy to hold...
Cheers, Conrad4
CRK Price at posting:
36.1¢ Sentiment: Hold Disclosure: Held
