The truth is a 6.3m share cover dropped from either CDEL or ASCM. Since the selling into the bid at this level is drying up, it won't take much volume to get this moving up. MM will usually box and try to make a wide spread so they can short the ask and try to get the shares back at the bid. You can usually tell before they let it move, they tighten the spread hoping to get people to sell into the bid and create a panic so they can continue to box at each level. It's holding up pretty good today. Probably 1/3 of the volume is wash trades from the mm's. The l2 tells the tale pretty good.
I'd say majority of the float has traded here or above, they can only hold it down so long here as the sellers dry up for their games.
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