{"schema_version":"1.0","name":"BURE Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"02ca7714-1e2d-44b3-a4be-082a42c9442f","symbol":"BURE","name":"Bure Equity AB (publ)","exchange":"STO","country":"SE","asset_type":"equity","currency":"SEK","sector":"Financial Services","industry":"Asset Management"},"summary":"The technical trend and the underlying tape are moving in opposite directions. Price is holding its upward structure without confirmation from Market Dynamics.","sections":[{"name":"Executive technical read","description":"Completed-week price state, Market Dynamics alignment, current price and the principal technical KPIs."},{"name":"Market Dynamics","description":"The proprietary relationship between completed price, underlying support, positioning zones and confirmation."},{"name":"Ticker evidence record","description":"Current application, comparable historical conditions, zone outcomes and practical review conditions."},{"name":"Adaptive technical evidence","description":"Six condition-selected views: Trend, acceptance and volatility envelope, Drawdown and recovery pressure, Directional strength and control, Activity pressure and cumulative balance, Range position and boundary pressure, Strength versus the research benchmark."},{"name":"SM Tape Intelligence","description":"Resolved consensus with Control, Force, Direction and Confirmation gauges against completed price."},{"name":"Research boundary","description":"Dated scope, interpretation limits, methodology version and source references."}],"research":{"available":true,"asOf":"2026-08-14","observations":260,"displayedObservations":104,"assetType":"Equity","state":"Aligned upward","stateTone":"positive","summary":"The technical trend and the underlying tape are moving in opposite directions. 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cautious, Market Dynamics positive","kind":"disagreement","expectedDirection":"higher","episodes":17,"completedEpisodes":16,"activeEpisodes":1,"medianExpectedMove":8.2,"averageExpectedMove":12.0,"averageWeeksToLargestMove":6.0,"horizons":[{"weeks":4,"sample":17,"expectedCount":7,"expectedPercent":41.2,"averageReturn":0.3,"medianReturn":-2.4,"confidenceLow":21.6,"confidenceHigh":64.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":16,"expectedCount":8,"expectedPercent":50.0,"averageReturn":0.8,"medianReturn":-0.1,"confidenceLow":28.0,"confidenceHigh":72.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":16,"expectedCount":8,"expectedPercent":50.0,"averageReturn":1.5,"medianReturn":-0.3,"confidenceLow":28.0,"confidenceHigh":72.0,"confidence":"Mixed historical 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elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":3,"completedEpisodes":3,"activeEpisodes":0,"medianExpectedMove":9.4,"averageExpectedMove":15.6,"averageWeeksToLargestMove":10.3,"horizons":[{"weeks":4,"sample":3,"expectedCount":3,"expectedPercent":100.0,"averageReturn":-5.4,"medianReturn":-3.7,"confidenceLow":43.9,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":3,"expectedCount":3,"expectedPercent":100.0,"averageReturn":-11.9,"medianReturn":-9.1,"confidenceLow":43.9,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":3,"expectedCount":3,"expectedPercent":100.0,"averageReturn":-16.8,"medianReturn":-16.6,"confidenceLow":43.9,"confidenceHigh":100.0,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":1.6,"sample":3},{"week":2,"averageReturn":-0.4,"sample":3},{"week":3,"averageReturn":-3.9,"sample":3},{"week":4,"averageReturn":-5.4,"sample":3},{"week":5,"averageReturn":-6.3,"sample":3},{"week":6,"averageReturn":-8.3,"sample":3},{"week":7,"averageReturn":-9.4,"sample":3},{"week":8,"averageReturn":-10.3,"sample":3},{"week":9,"averageReturn":-13.0,"sample":3},{"week":10,"averageReturn":-14.7,"sample":3},{"week":11,"averageReturn":-11.1,"sample":3},{"week":12,"averageReturn":-11.9,"sample":3},{"week":13,"averageReturn":-12.4,"sample":3},{"week":14,"averageReturn":-12.8,"sample":3},{"week":15,"averageReturn":-10.0,"sample":3},{"week":16,"averageReturn":-13.5,"sample":3},{"week":17,"averageReturn":-13.7,"sample":3},{"week":18,"averageReturn":-12.3,"sample":3},{"week":19,"averageReturn":-12.2,"sample":3},{"week":20,"averageReturn":-13.2,"sample":3},{"week":21,"averageReturn":-10.7,"sample":3},{"week":22,"averageReturn":-12.1,"sample":3},{"week":23,"averageReturn":-13.1,"sample":3},{"week":24,"averageReturn":-15.6,"sample":3},{"week":25,"averageReturn":-12.8,"sample":3},{"week":26,"averageReturn":-16.8,"sample":3}]},"currentApplication":{"status":"Evidence conflict","tone":"negative","headline":"Market Dynamics is negative while price remains rotational","use":"Treat the pressure as context until price establishes a clear response.","confirm":"The gap can close through improving Market Dynamics or weakening price. Until one occurs, the upward structure carries elevated reversal risk and should not be read as fully aligned.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"weakening","zone":"middle","zoneContext":"Price is between the accumulation and distribution zones. The Market Dynamics bars describe whether the current move is gaining or losing underlying support.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":68.2,"averageReturn":-1.1,"sample":22},"nowContext":{"label":"Easier this week","detail":"Market Dynamics weakened this week and remains below zero."},"fourWeekContext":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"priceContext":{"label":"Price structure is upward","detail":"Price is responding in the same broad direction as Market Dynamics."}},"strategyApproach":{"headline":"Strategy observations from this ticker's own record","summary":"The current reading identifies the setup. The observations below show how this ticker's completed history can guide positioning, confirmation and risk control without treating any one reading as a forecast.","observations":[{"eyebrow":"Divergence control","title":"Do not chase price while the underlying evidence lags","tone":"caution","approach":"Use the gap to review position size, protect gains and wait for either Market Dynamics to catch up or price to correct. The disagreement is a warning condition, not an automatic exit.","finding":"In this ticker's completed record, 68.2% of comparable cases moved lower after 12 weeks, with an average move of -1.1% across 22 cases.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."},{"eyebrow":"Zone positioning","title":"Use accumulation to prepare the long case, then wait for confirmation","tone":"positive","finding":"After accumulation, 100.0% of completed 12-week outcomes were higher across 4 cases. Distinct visits lasted 1.5 weeks on average before leaving the zone.","approach":"Build the thesis and entry conditions while price is in accumulation. Increase exposure only when price responds; location alone is not the entry.","watch":"A failed price response or renewed weakness removes the reason to increase long exposure."},{"eyebrow":"Disagreement playbook","title":"Use unsupported price strength to tighten discipline","tone":"caution","finding":"Comparable disagreements produced an average pullback of 12.7% across 22 completed cases, with the largest move arriving after 7.4 weeks on average.","approach":"Avoid adding simply because price is rising. Let improving Market Dynamics confirm the move, or let price reset before reassessing it.","watch":"The warning ends when Market Dynamics catches up or price gives way."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[{"date":"2026-04-10","price":226.867279}],"distribution_rollovers":[{"date":"2024-10-04","price":386.984283}],"price_pressure_gaps":[{"date":"2024-08-23","price":398.954895},{"date":"2024-09-20","price":396.796265},{"date":"2025-01-31","price":396.992493}]}},"smTape":{"available":true,"dates":["2024-08-23","2024-08-30","2024-09-06","2024-09-13","2024-09-20","2024-09-27","2024-10-04","2024-10-11","2024-10-18","2024-10-25","2024-11-01","2024-11-08","2024-11-15","2024-11-22","2024-11-29","2024-12-06","2024-12-13","2024-12-20","2024-12-27","2025-01-03","2025-01-10","2025-01-17","2025-01-24","2025-01-31","2025-02-07","2025-02-14","2025-02-21","2025-02-28","2025-03-07","2025-03-14","2025-03-21","2025-03-28","2025-04-04","2025-04-11","2025-04-18","2025-04-25","2025-05-02","2025-05-09","2025-05-16","2025-05-23","2025-05-30","2025-06-06","2025-06-13","2025-06-20","2025-06-27","2025-07-04","2025-07-11","2025-07-18","2025-07-25","2025-08-01","2025-08-08","2025-08-15","2025-08-22","2025-08-29","2025-09-05","2025-09-12","2025-09-19","2025-09-26","2025-10-03","2025-10-10","2025-10-17","2025-10-24","2025-10-31","2025-11-07","2025-11-14","2025-11-21","2025-11-28","2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14"],"close":[398.9549,409.1594,393.4602,392.8715,396.7963,406.412,386.9843,374.425,382.2745,388.3579,370.8926,375.2099,362.8468,359.5107,362.0619,387.7693,379.3309,370.8926,374.2287,384.2369,368.3415,372.6588,383.0595,396.9925,396.4038,407.197,378.9385,349.11,322.6177,336.1583,331.056,325.3651,289.6495,284.7435,297.3028,309.0772,313.9832,303.8755,301.104,284.277,285.4648,289.0281,266.6581,270.2215,285.0688,286.8505,291.0078,287.4444,296.7487,283.0892,289.424,276.1604,287.4444,280.5157,272.2011,277.5462,277.1502,271.0133,282.0994,262.1049,270.6174,281.7034,275.9625,248.2474,250.821,244.6841,252.4047,247.2576,243.1004,238.7451,239.9329,236.1716,232.6082,240.3289,225.0856,217.563,201.5278,192.7184,197.6675,212.2179,203.3095,208.0607,200.34,209.0505,213.9996,226.8673,252.9986,270.6174,264.2826,285.8607,278.6,298.8,275.2,273.0,270.8,256.4,259.4,264.6,257.0,275.2,266.2,260.4,274.2,277.0],"consensus":[57.4043,61.5235,0.0,20.0554,24.1671,38.8601,-28.668,-36.3808,0.0,9.7634,-47.1056,0.0,-46.6249,-26.5332,-21.8607,46.4812,0.0,-14.2176,13.0953,22.0776,-36.6379,9.6478,25.2002,44.6325,27.0477,49.3614,-40.1797,-66.631,-75.425,0.0,-49.1409,-47.1604,-74.9546,-39.2215,-19.9364,0.0,0.0,-29.4128,-25.5735,-55.7969,-33.2082,-13.9109,-66.1679,-18.1623,15.2174,0.0,9.9361,0.0,25.3977,-33.9676,14.3912,-37.1654,20.1581,-26.6763,-36.7279,0.0,-13.2064,-30.6335,29.1977,-56.4335,8.1605,31.7224,-20.9135,-65.7747,-26.7197,-47.5495,0.0,-26.7173,-30.5391,-39.3821,-30.2312,-42.4194,-40.4964,12.4901,-59.1706,-59.9367,-74.0939,-64.7645,-12.5386,17.2178,-38.6184,10.3077,-42.8252,13.6957,15.3255,47.2347,72.3825,76.4163,23.5887,66.215,22.1045,76.3562,-11.1768,8.5267,13.53,-37.2305,0.0,11.5676,-28.6676,48.8028,-9.3202,-17.196,41.35,-19.4762],"supportDates":["2025-08-22","2025-08-29","2025-09-05","2025-09-12","2025-09-19","2025-09-26","2025-10-03","2025-10-10","2025-10-17","2025-10-24","2025-10-31","2025-11-07","2025-11-14","2025-11-21","2025-11-28","2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14"],"control":[27.2094,-35.2818,-38.1766,0.0,-11.1074,-32.5251,25.701,-55.7169,12.7936,30.2365,-24.6623,-67.1945,-25.957,-45.5014,0.0,-28.2732,-30.0778,-43.6395,-32.6598,-47.354,-42.4982,10.6072,-62.2177,-67.0096,-75.084,-65.0346,-2.6171,22.9392,-45.2291,5.3865,-52.7342,16.0655,9.4425,46.0004,70.6261,76.4409,10.9178,54.6879,16.3103,75.0812,-21.1841,11.9989,19.9144,-34.2323,0.0,21.2216,-35.7105,43.4426,-16.5549,-16.803,39.1899,-22.3481],"force":[49.003,-33.0271,-38.5412,0.0,-7.5254,-33.2646,56.0525,-82.969,38.3526,50.0328,-33.3217,-92.8351,-1.4992,-44.4099,0.0,-21.9522,-20.1981,-33.2658,-9.4711,-33.7615,-33.4377,53.6775,-69.5472,-56.6536,-88.957,-63.4591,-40.2646,77.879,-40.1922,42.4639,-51.3596,51.3607,27.9026,55.7295,85.9487,84.6469,18.6192,77.2192,27.8957,89.1718,-74.3586,12.143,1.7482,-65.4822,0.0,10.3984,-32.0501,71.9194,-31.2615,-29.7472,57.6821,-12.3184],"direction":[8.5041,-12.3052,-33.7769,0.0,-19.6632,-26.5924,14.0119,-38.2985,18.7004,20.3418,-7.766,-44.8231,-45.606,-52.1326,0.0,-28.3427,-38.4527,-38.8852,-42.2842,-42.964,-43.2506,14.7777,-48.2763,-54.1985,-62.3458,-65.3883,-61.5941,32.6502,-29.939,7.0367,-25.4045,15.9162,13.0653,42.5777,64.6996,70.5093,68.2184,71.5285,64.4408,68.6595,-45.3899,19.3225,17.1465,-20.4772,0.0,1.3696,-18.2024,38.4169,-14.6204,-8.6799,32.1528,-21.3067],"intensity":[25.0,19.2308,30.7692,9.6154,1.9231,13.4615,28.8462,75.0,51.9231,30.7692,13.4615,92.3077,69.2308,11.5385,23.0769,9.6154,7.6923,9.6154,3.8462,9.6154,19.2308,32.6923,71.1538,42.3077,71.1538,67.3077,21.1538,65.3846,38.4615,15.3846,38.4615,40.3846,59.6154,59.6154,98.0769,96.1538,59.6154,100.0,86.5385,88.4615,94.2308,94.2308,17.3077,65.3846,92.3077,30.7692,32.6923,92.3077,44.2308,46.1538,63.4615,67.3077],"confirmation":[31.7031,76.5988,79.7861,3.5233,49.4182,77.8541,78.215,86.8783,30.117,78.7319,52.3467,89.851,53.1266,83.1514,8.1514,76.3806,77.4644,80.351,77.0043,81.2351,80.7132,31.1,87.2044,86.9719,92.1479,88.6807,11.1441,36.9033,80.3051,28.5213,81.8132,31.5565,73.3771,83.3928,91.6026,92.7037,33.0939,89.6998,34.2557,92.844,37.6995,27.3029,49.473,80.8205,27.0772,48.8522,77.1694,84.4031,29.3266,73.8912,81.7626,44.64],"persistence":[25.0,12.5,12.5,12.5,37.5,37.5,37.5,37.5,37.5,12.5,12.5,25.0,25.0,25.0,37.5,37.5,62.5,87.5,87.5,87.5,87.5,62.5,75.0,75.0,75.0,75.0,75.0,50.0,50.0,50.0,50.0,25.0,0.0,25.0,50.0,50.0,75.0,75.0,100.0,100.0,75.0,75.0,75.0,50.0,37.5,37.5,12.5,12.5,12.5,12.5,12.5,12.5],"assessmentRisk":[45.8374,1.3583,27.8303,6.0123,34.5551,26.3338,26.4067,17.5667,32.1743,22.7329,17.0969,8.0619,33.3372,26.0974,45.9365,9.0006,14.7271,4.718,25.2576,18.1148,20.2714,2.2494,16.9182,18.4685,12.9396,17.6176,43.6774,37.1033,29.7719,42.0391,36.2227,23.343,32.9479,23.9667,13.79,11.7882,38.1831,16.8893,37.8996,10.9843,37.8254,40.7492,32.053,31.0895,43.1413,31.872,22.5985,19.5651,28.4466,6.8792,23.6226,2.3858],"volumeParticipation":true,"latest":{"consensus":-19.5,"control":-22.3,"force":-12.3,"direction":-21.3,"confirmation":44.6,"persistence":12.5,"assessmentRisk":2.4,"intensity":67.3,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the Market Dynamics view","summary":"Price structure and Market Dynamics disagree. The completed evidence gives the downward Market Dynamics view stronger support.","take":"Current assessment: the visible price structure remains vulnerable until Market Dynamics changes.","tone":"negative","supportedView":"Market Dynamics","direction":"downward","disagreement":true},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is easing","forceState":"Downward commitment","forcePath":"Commitment is easing","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-19.5","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-22.3","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-12.3","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-21.3","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"45/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"56.9","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"6.7%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"34.3","detail":"Directional","tone":"positive"},{"label":"Range position","value":"71%","detail":"location inside observed range","tone":"neutral"},{"label":"Adaptive set","value":"6 views","detail":"selected for the current tape","tone":"neutral"}],"charts":[{"key":"price","eyebrow":"Price architecture","title":"Trend, acceptance and volatility envelope","description":"Price is shown against fast and slow trend references with its current volatility envelope.","reason":"Selected as the anchor because price and its 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