If you have been observing the trading closely since the CR and appreciate what effect it had on the sp, then you would know what moved us today. There are many 'small traders' willing to buy into SYT; note the depth table. Since the CR, there have been many sophs willing to dump their cheap shares ans hence, have pushed the price down. These are all mostly absorbed now, apart from the few still sitting at the immediate 3 pip prices above present. With most of those absorbed, the sp is able to rise. Demand is slowly becoming stronger than supply, or, the bulls are taking control from the bears in trading parlance.
It is as simple as that.
SYT Price at posting:
3.6¢ Sentiment: Buy Disclosure: Held
