I think potential buyers are realising that SGH is conducting business as usual and the more stories that get out into the news eg Billabong CA (amongst others) reinforces the fact that SGH are trading themselves out of trouble.
This is resulting in SGH volumes churning around a bit but as potential buyers are still building in risk mitigation into their buy orders as they are not yet comfortable with breaking ground with buy orders into the 40's.
In time this will change (hopefully within 9 trading days) as outside risks brexit and federal election fears go away.
SGH Price at posting:
39.5¢ Sentiment: Buy Disclosure: Held