{"schema_version":"1.0","name":"WAF Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"098f3863-b5aa-4899-af06-7f0150ddedb3","symbol":"WAF","name":"Siltronic AG","exchange":"GER","country":"DE","asset_type":"equity","currency":"EUR","sector":"Technology","industry":"Semiconductors"},"summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. The upward price structure is leading its underlying support.","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, Strength versus the research benchmark, Drawdown and recovery pressure, Acceleration, deceleration and rollover, Directional strength and control, Range pressure and compression."},{"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":"Market Dynamics weakened this week and remains below zero. 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record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-0.7,"sample":24},{"week":2,"averageReturn":-3.0,"sample":24},{"week":3,"averageReturn":-4.1,"sample":24},{"week":4,"averageReturn":-2.9,"sample":24},{"week":5,"averageReturn":-2.2,"sample":24},{"week":6,"averageReturn":-1.7,"sample":23},{"week":7,"averageReturn":1.5,"sample":23},{"week":8,"averageReturn":1.2,"sample":23},{"week":9,"averageReturn":3.9,"sample":22},{"week":10,"averageReturn":4.4,"sample":22},{"week":11,"averageReturn":4.5,"sample":21},{"week":12,"averageReturn":8.4,"sample":21},{"week":13,"averageReturn":5.3,"sample":21},{"week":14,"averageReturn":4.8,"sample":21},{"week":15,"averageReturn":4.6,"sample":21},{"week":16,"averageReturn":3.6,"sample":21},{"week":17,"averageReturn":3.9,"sample":21},{"week":18,"averageReturn":2.5,"sample":21},{"week":19,"averageReturn":0.6,"sample":21},{"week":20,"averageReturn":1.5,"sample":21},{"week":21,"averageReturn":1.1,"sample":21},{"week":22,"averageReturn":-1.2,"sample":20},{"week":23,"averageReturn":1.3,"sample":20},{"week":24,"averageReturn":-2.6,"sample":19},{"week":25,"averageReturn":-3.0,"sample":19},{"week":26,"averageReturn":-1.7,"sample":19}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":0,"completedEpisodes":0,"activeEpisodes":0,"horizons":[{"weeks":4,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":12,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"sample":0},{"week":2,"sample":0},{"week":3,"sample":0},{"week":4,"sample":0},{"week":5,"sample":0},{"week":6,"sample":0},{"week":7,"sample":0},{"week":8,"sample":0},{"week":9,"sample":0},{"week":10,"sample":0},{"week":11,"sample":0},{"week":12,"sample":0},{"week":13,"sample":0},{"week":14,"sample":0},{"week":15,"sample":0},{"week":16,"sample":0},{"week":17,"sample":0},{"week":18,"sample":0},{"week":19,"sample":0},{"week":20,"sample":0},{"week":21,"sample":0},{"week":22,"sample":0},{"week":23,"sample":0},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]},"currentApplication":{"status":"Price ahead of underlying support","tone":"caution","headline":"Price is leading its underlying support","use":"Market Dynamics must catch up or price may correct toward the weaker underlying position.","confirm":"Treat the gap as an early-downside risk watch. Stronger Market Dynamics would confirm the price move; a weaker price response would confirm that the gap is closing through correction.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"weakening","zone":"middle","zoneContext":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":62.5,"averageReturn":-4.5,"sample":16},"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 is ahead of the underlying support","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets."}},"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, 62.5% of comparable cases moved lower after 12 weeks, with an average move of -4.5% across 16 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 2 cases. Distinct visits lasted 9.5 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 13.7% across 16 completed cases, with the largest move arriving after 7.8 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":"2025-06-27","price":41.599998},{"date":"2025-09-19","price":42.259998}],"distribution_rollovers":[{"date":"2026-06-05","price":91.300003}],"price_pressure_gaps":[]}},"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":[73.9728,73.6743,68.1027,67.655,66.1626,69.7443,67.058,62.2824,59.8448,57.7057,51.8854,51.2387,50.8407,46.9605,47.1993,49.1096,50.4925,45.0503,46.7814,45.2294,45.1697,44.5528,43.7768,44.0752,41.1104,45.5875,47.7963,45.2692,45.0702,46.7416,45.5676,42.2446,36.6133,32.5142,33.3101,37.9067,37.648,37.4689,37.82,34.66,36.2,36.96,38.32,36.58,41.6,39.94,43.8,44.96,42.84,37.34,37.18,35.86,38.14,35.5,33.58,34.26,42.26,44.52,53.55,53.55,54.05,59.1,53.5,45.5,44.46,42.7,49.12,49.26,47.6,46.06,46.6,51.0,51.55,55.25,53.4,52.6,52.15,51.05,54.0,57.4,50.8,58.35,52.1,54.95,53.25,60.0,68.55,73.95,79.7,99.55,87.5,93.35,104.7,91.3,93.9,91.95,82.0,92.5,89.5,85.8,82.95,76.1,78.15,87.7],"consensus":[-11.1403,0.0,-59.4306,-35.1134,-45.2366,12.2489,-36.0426,-65.2904,-59.3067,-61.5598,-77.7006,-49.4081,-43.4346,-73.6525,-38.3404,0.0,-19.3947,-68.8667,0.0,-51.1617,-32.772,-19.6959,-31.6115,-14.5081,-47.0007,25.5234,30.864,-25.3584,0.0,20.1705,-18.8763,-43.757,-65.9612,-61.7232,-35.6662,0.0,-10.0139,0.0,-8.1561,-46.7451,-9.4808,0.0,8.9481,-21.6322,50.1411,0.0,54.9473,45.3182,0.0,-48.3418,-15.4554,-37.1038,8.4243,-43.2581,-45.4831,0.0,54.9116,47.29,80.0279,32.356,37.5017,66.3448,-11.7341,-46.014,-27.1318,-35.9858,31.913,16.2394,0.0,-9.6141,0.0,41.6326,17.818,50.1288,17.0409,0.0,13.5388,-13.8254,30.9379,46.17,-31.7953,56.0996,-35.626,16.2241,0.0,47.6001,68.293,68.0991,70.4428,87.156,0.0,66.7509,75.8607,-10.5491,47.3487,0.0,-35.9085,45.4418,0.0,-19.9606,-17.2696,-47.3727,-19.9887,36.8582],"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":[20.0393,-51.8865,-49.4787,0.0,46.3263,42.366,80.9714,20.3949,27.6208,65.2752,-19.523,-44.695,-24.2176,-34.8598,46.0679,12.4659,0.0,-18.5911,0.0,50.0436,10.4907,49.2657,10.9484,0.0,16.1814,-8.6826,37.1693,47.4357,-34.0328,48.9034,-36.2615,22.0617,0.0,52.5839,68.5253,71.2166,67.4272,90.9499,0.0,70.2451,73.0825,-14.4222,55.5171,0.0,-38.3534,59.5117,0.0,-12.8403,-19.9016,-34.1411,-15.296,40.6238],"force":[30.0109,-50.8127,-45.2524,0.0,86.9957,46.6025,96.2511,3.0255,12.4398,61.7599,-70.0584,-82.6683,-29.7875,-34.6672,50.5376,8.1571,0.0,-15.8543,0.0,47.5605,7.3814,51.0914,5.5204,0.0,8.5054,-29.5102,37.4217,51.2074,-59.4721,87.014,-73.2287,25.3857,0.0,63.6196,82.1011,70.1251,81.7084,99.2958,0.0,59.9903,87.3718,-53.1695,31.6839,0.0,-52.941,46.9821,0.0,-44.8404,-26.244,-71.7423,-3.0703,65.6083],"direction":[20.2688,-28.0008,-41.0814,0.0,41.8062,53.4085,67.3615,66.9761,66.6954,70.8422,-38.8277,-21.3397,-28.5655,-38.2146,2.4326,26.3249,0.0,-5.1027,0.0,27.7859,33.6469,50.4275,40.119,0.0,14.1141,-8.4996,19.1851,41.1253,-9.4691,42.2421,-8.0406,3.0085,0.0,30.4619,58.1648,63.0891,65.8424,74.1487,0.0,67.5866,70.8136,-24.3203,49.2026,0.0,-20.9481,28.2618,0.0,-10.3267,-7.8513,-45.0876,-37.4362,12.0189],"intensity":[36.5385,48.0769,40.3846,19.2308,100.0,96.1538,96.1538,94.2308,50.0,78.8462,88.4615,94.2308,86.5385,36.5385,88.4615,69.2308,26.9231,19.2308,40.3846,69.2308,84.6154,55.7692,23.0769,11.5385,63.4615,82.6923,59.6154,57.6923,88.4615,92.3077,82.6923,42.3077,65.3846,86.5385,96.1538,92.3077,71.1538,100.0,98.0769,67.3077,98.0769,96.1538,34.6154,42.3077,90.3846,88.4615,30.7692,78.8462,96.1538,96.1538,82.6923,82.6923],"confirmation":[30.1674,81.9413,82.4867,5.2913,86.6803,83.1869,94.089,54.9756,79.3873,89.1069,36.3636,83.8617,76.8075,79.4924,55.8974,73.0078,26.3883,49.5518,26.6051,81.3749,50.8287,84.0837,51.3694,3.8503,72.1388,72.9805,78.0028,82.9086,78.9839,87.0037,80.5366,50.7153,1.6729,83.6443,90.2711,89.806,90.931,96.2021,39.2763,89.101,92.6686,32.4706,82.5497,6.6653,79.9725,82.3739,25.6084,75.2541,51.093,84.1036,51.2856,44.64],"persistence":[0.0,12.5,37.5,50.0,37.5,12.5,12.5,37.5,37.5,62.5,62.5,50.0,25.0,0.0,0.0,0.0,12.5,37.5,25.0,0.0,25.0,50.0,50.0,37.5,50.0,50.0,62.5,62.5,37.5,37.5,12.5,25.0,12.5,37.5,37.5,37.5,62.5,62.5,75.0,75.0,87.5,62.5,62.5,50.0,25.0,25.0,25.0,0.0,25.0,25.0,50.0,37.5],"assessmentRisk":[51.332,7.5916,20.2714,22.1699,13.9127,25.9446,9.9817,33.817,31.0143,16.7636,5.2387,23.891,34.8156,31.9159,51.8021,24.6408,29.2378,36.7253,27.8927,0.45,29.7803,23.9688,38.9466,19.0528,4.749,39.4624,3.9055,25.8126,5.9566,20.5436,4.8611,35.7498,28.0027,5.139,15.7686,15.9192,14.777,6.4213,50.0778,15.924,11.8549,31.0387,7.2236,8.6351,31.3019,16.4139,20.7881,18.6041,13.6479,23.2221,35.1719,6.0615],"volumeParticipation":true,"latest":{"consensus":36.9,"control":40.6,"force":65.6,"direction":12.0,"confirmation":44.6,"persistence":37.5,"assessmentRisk":6.1,"intensity":82.7,"evidenceDepth":100},"analysis":{"status":"Price structure has stronger support","headline":"The gauges support the price-technical view","summary":"Price structure and Market Dynamics disagree. The completed evidence gives the upward price structure stronger support.","take":"Current assessment: price structure remains primary, but the disagreement lowers confirmation.","tone":"positive","supportedView":"Price structure","direction":"upward","disagreement":true},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Control support is strengthening","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+36.9","detail":"Price structure has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+40.6","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+65.6","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+12.0","detail":"Upward follow-through","tone":"positive"},{"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":"56.8","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"11.6%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"42.1","detail":"Directional","tone":"positive"},{"label":"Range position","value":"65%","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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