{"schema_version":"1.0","name":"STZ Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"109029c5-b2c2-4d19-85a4-1c4207bf1012","symbol":"STZ","name":"Constellation Brands, Inc.","exchange":"MEX","country":"MX","asset_type":"equity","currency":"MXN","sector":"Consumer Defensive","industry":"Beverages - Brewers"},"summary":"Market Dynamics improved this week but remains below zero. The broader path has not changed enough to establish a new direction. Price structure remains downward.","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, Acceleration, deceleration and rollover, Strength versus the research benchmark, Range position and boundary pressure, 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 downward","stateTone":"negative","summary":"Market Dynamics improved this week but remains below zero. 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conflict","tone":"caution","headline":"Price and Market Dynamics remain aligned downward","use":"The downside remains supported until Market Dynamics repairs or price structure changes.","confirm":"This is an early challenge rather than a confirmed reversal. Price must respond to the improvement before the downward technical state can be considered resolved.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"strengthening","zone":"accumulation","zoneContext":"Price is within accumulation conditions while Market Dynamics is improving. A green marker is required before the recovery is treated as confirmed.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":52.6,"averageReturn":-1.2,"sample":19},"nowContext":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeekContext":{"label":"Broadly steady over four weeks","detail":"The broader path has not changed enough to establish a new direction."},"priceContext":{"label":"Price structure is downward","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":"Capital protection","title":"Treat agreement on the downside as a defensive condition","tone":"negative","approach":"Reduce the burden of proof for risk control and raise it for new long exposure. A short position still needs a defined entry, exit and maximum loss.","finding":"In this ticker's completed record, 52.6% of comparable cases moved lower after 12 weeks, with an average move of -1.2% across 19 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 1 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 improving Market Dynamics to prepare, not anticipate","tone":"recovery","finding":"Comparable disagreements produced an average recovery of 7.3% across 22 completed cases, with the largest move arriving after 5.6 weeks on average.","approach":"Define the price level that would confirm the repair. Until that response occurs, keep the idea at watchlist or starter-position size.","watch":"The early repair fails if Market Dynamics fades before price responds."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[],"distribution_rollovers":[{"date":"2024-09-20","price":4778.620117},{"date":"2024-10-04","price":4734.27002},{"date":"2024-12-13","price":4810.451172}],"price_pressure_gaps":[{"date":"2024-11-15","price":4889.937988}]}},"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":[4668.4194,4663.4302,4988.6929,4899.8945,4778.6201,4994.6802,4734.27,4637.4897,4769.1909,4779.1675,4754.2246,4649.4331,4889.938,4838.0449,4850.02,4880.957,4810.4512,4640.4512,4526.5356,4580.5742,3781.7585,3819.1414,3706.3733,3738.3076,3473.8435,3294.1621,3575.6633,3573.0674,3782.2974,3623.5784,3613.5957,3797.2705,3548.2517,3693.4543,3661.511,3614.8438,3672.5251,3708.9712,3809.3213,3544.7358,3453.7214,3276.1162,3115.3557,3070.4226,3035.4749,3248.9465,3192.241,3187.3489,3251.1533,3131.3481,3176.2656,3154.2915,3105.3489,3013.457,2778.4534,2576.9702,2442.9778,2444.6558,2607.9336,2616.9233,2553.2981,2572.9749,2448.1548,2344.2332,2356.2241,2468.1396,2502.114,2578.0569,2707.959,2437.1631,2478.1323,2493.0208,2667.9893,2757.9214,2746.9497,2723.9563,2813.9219,2560.5188,2674.9751,2718.9583,2601.9028,2628.9927,2703.9639,2716.959,2734.9521,2884.9446,2817.3203,2724.9558,2724.0,2557.0,2480.0,2536.0,2412.5,2400.0,2500.0,2443.5701,2490.387,2381.6519,2317.2542,2322.2162,2238.8544,2298.6899,2320.0,2360.0],"consensus":[39.7906,0.0,76.3267,19.0015,0.0,69.6119,-41.5933,-40.5568,38.1779,9.1907,0.0,-29.4527,40.8372,0.0,27.5616,33.9686,-22.9553,-52.4677,-51.2846,-9.3624,-79.9392,-34.2107,-65.1076,-51.6223,-77.2115,-79.4035,0.0,-38.0492,26.8799,-42.3829,-10.9088,31.988,-62.4501,16.6187,-22.3421,-31.0742,10.725,0.0,36.6511,-48.2169,-48.8336,-67.7303,-73.9232,-48.2087,-56.6104,16.7776,-21.5856,0.0,13.2636,-47.3406,-9.0678,-11.1327,-32.1332,-39.1591,-71.712,-77.0115,-74.1237,-42.1259,0.0,-16.7018,-35.4069,-15.6493,-59.8641,-66.221,-35.5616,0.0,0.0,34.0283,59.1206,-54.3048,-16.8259,0.0,48.6112,55.6291,19.1125,17.4296,53.0069,-52.1092,28.2018,22.1729,-38.5585,16.3899,33.7555,0.0,12.5865,61.6896,0.0,-19.7971,12.0197,-55.6894,-46.3371,0.0,-61.7872,-36.0775,0.0,-34.7712,-12.8421,-37.4201,-58.5582,-29.6937,-72.7021,0.0,0.0,-21.326],"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":[-30.1045,-27.9895,-71.7426,-82.4491,-73.3311,-37.9882,0.0,-22.0452,-49.9114,-29.7513,-56.8365,-73.861,-35.4931,0.0,0.0,29.9296,51.8631,-61.5907,-26.768,0.0,50.9401,43.4846,2.6981,4.4098,41.1048,-48.3829,38.131,27.0493,-41.3208,10.8062,42.2353,0.0,3.4983,54.1329,0.0,-33.0695,17.2815,-61.5857,-34.3455,0.0,-70.129,-33.2093,0.0,-34.8397,-27.2029,-44.9181,-52.6693,-25.8436,-73.8356,0.0,0.0,-19.8625],"force":[-29.4572,-54.4947,-90.4543,-85.8288,-83.9639,-12.7224,0.0,-10.8322,-27.9544,-10.2614,-75.2535,-64.5436,-8.5902,0.0,0.0,56.0257,82.2467,-85.6344,-3.8247,0.0,78.791,69.7299,6.6255,7.1187,68.4698,-95.354,44.5162,16.1693,-57.0385,33.4182,36.2116,0.0,0.9129,77.85,0.0,-38.5768,14.3965,-59.4078,-55.3765,0.0,-54.2165,-12.2265,0.0,-21.033,-2.0174,-24.5929,-68.5697,-3.9961,-86.7936,0.0,0.0,-63.0949],"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downward confirmation","headline":"The gauges support the downward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same downward assessment.","take":"Current assessment: downward pressure has broad support.","tone":"negative","supportedView":"Price structure and Market Dynamics","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Broadly stable","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Follow-through is limited","persistenceState":"Developing","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-21.3","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-19.9","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-63.1","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-6.8","detail":"Follow-through is 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envelope","values":[4106.2149,4109.9221,4096.6108,4087.8797,4093.4497,4095.0517,4136.1632,4264.6972,4353.5813,4380.0055,4382.4289,4380.5537,4380.6694,4385.7107,4401.1629,4458.9226,4508.6349,4502.6244,4506.8878,4513.0601,4223.8107,4044.6211,3868.9933,3731.7885,3548.8649,3359.4237,3253.1416,3158.4073,3109.7306,3048.5108,2996.0844,2970.4382,2943.0948,2945.0884,2963.1465,3006.134,3074.8766,3146.0422,3230.3259,3398.1535,3375.1867,3318.7659,3222.3932,3134.1594,3056.4045,3049.3154,3009.8633,2973.3262,2956.7783,2919.2823,2893.0841,2881.878,2852.7304,2822.8852,2751.4397,2641.4732,2525.0175,2440.2977,2432.6216,2405.9909,2370.8693,2334.0543,2274.7239,2202.3349,2141.1582,2118.1605,2103.6859,2105.0828,2132.2493,2129.6191,2152.2945,2191.7729,2251.6874,2302.6065,2306.9511,2301.2137,2299.0197,2310.6307,2310.5145,2308.7448,2311.3128,2313.416,2329.1943,2370.0772,2415.1898,2424.8666,2441.9444,2452.446,2452.7433,2479.2797,2479.7474,2489.2224,2442.8721,2399.3305,2381.602,2356.1517,2346.7422,2319.77,2277.5775,2243.2236,2195.3356,2164.4869,2142.6647,2131.0692],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"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"]},{"key":"drawdown","eyebrow":"Path risk","title":"Drawdown and recovery pressure","description":"Capital impairment and recovery are shown together so return is not separated from path difficulty.","reason":"Selected because the current recovery or drawdown path is central to the 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