{"schema_version":"1.0","name":"IPG Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"18846413-6da7-47d0-b63a-74daf3f10a99","symbol":"IPG","name":"IPD Group Limited","exchange":"ASX","country":"AU","asset_type":"equity","currency":"AUD","sector":"Industrials","industry":"Specialty Industrial Machinery"},"summary":"Market Dynamics improved this week but 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, Activity pressure and cumulative balance, Acceleration, deceleration and rollover, Range position and boundary pressure, Drawdown and recovery pressure."},{"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":242,"displayedObservations":104,"assetType":"Equity","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics improved this week but remains below zero. 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record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":1.4,"sample":19},{"week":2,"averageReturn":1.1,"sample":19},{"week":3,"averageReturn":2.2,"sample":19},{"week":4,"averageReturn":2.6,"sample":19},{"week":5,"averageReturn":1.9,"sample":19},{"week":6,"averageReturn":3.0,"sample":19},{"week":7,"averageReturn":5.3,"sample":19},{"week":8,"averageReturn":6.5,"sample":18},{"week":9,"averageReturn":6.3,"sample":18},{"week":10,"averageReturn":8.0,"sample":18},{"week":11,"averageReturn":10.1,"sample":17},{"week":12,"averageReturn":11.1,"sample":17},{"week":13,"averageReturn":11.5,"sample":16},{"week":14,"averageReturn":14.8,"sample":16},{"week":15,"averageReturn":13.3,"sample":16},{"week":16,"averageReturn":12.6,"sample":16},{"week":17,"averageReturn":14.6,"sample":16},{"week":18,"averageReturn":13.3,"sample":16},{"week":19,"averageReturn":12.7,"sample":16},{"week":20,"averageReturn":11.6,"sample":16},{"week":21,"averageReturn":11.9,"sample":16},{"week":22,"averageReturn":10.1,"sample":15},{"week":23,"averageReturn":8.9,"sample":15},{"week":24,"averageReturn":8.4,"sample":15},{"week":25,"averageReturn":14.9,"sample":15},{"week":26,"averageReturn":15.8,"sample":14}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":1,"completedEpisodes":0,"activeEpisodes":1,"horizons":[{"weeks":4,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-22.1,"medianReturn":-22.1,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"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,"averageReturn":-7.8,"sample":1},{"week":2,"averageReturn":-20.0,"sample":1},{"week":3,"averageReturn":-21.6,"sample":1},{"week":4,"averageReturn":-22.1,"sample":1},{"week":5,"averageReturn":-24.0,"sample":1},{"week":6,"averageReturn":-22.7,"sample":1},{"week":7,"averageReturn":-22.2,"sample":1},{"week":8,"averageReturn":-8.8,"sample":1},{"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":"strengthening","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":16.7,"averageReturn":13.3,"sample":12},"nowContext":{"label":"Stronger this week","detail":"Market Dynamics improved this week but 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, 16.7% of comparable cases moved lower after 12 weeks, with an average move of 13.3% across 12 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 5.0 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 6.8% across 12 completed cases, with the largest move arriving after 5.2 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":"2025-08-01","price":3.342958}],"distribution_rollovers":[{"date":"2026-05-22","price":5.32},{"date":"2026-06-26","price":5.76}],"price_pressure_gaps":[{"date":"2026-06-19","price":6.25}]}},"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":[4.4001,4.6728,4.7198,4.8702,4.8732,4.778,4.6638,4.5496,4.6257,4.3211,4.3021,4.4925,4.483,3.9785,3.7691,3.8833,3.6168,3.6739,3.6739,3.6644,3.5978,3.6073,3.4931,3.6644,4.1784,4.0261,4.0166,3.9404,3.7501,3.5883,3.3598,3.5561,3.5271,3.6821,3.5852,3.8662,3.8662,3.7693,3.6046,3.3236,2.9651,2.9166,2.9747,2.7906,2.9166,3.0813,3.3236,3.5368,3.4399,3.343,3.4495,3.6143,3.498,4.186,4.0212,3.9728,3.9534,3.9066,3.8673,3.3949,3.5622,3.5917,3.6213,3.4146,3.2965,3.3064,3.7885,4.005,4.0247,4.005,4.1428,4.3101,4.3888,4.2904,4.5955,4.3396,4.1133,4.3691,4.4774,5.1367,4.871,4.4971,4.0838,4.22,4.74,4.94,5.03,5.5,5.7,6.28,6.35,5.32,5.95,6.08,5.95,6.25,5.76,5.0,4.9,4.87,4.75,4.83,4.86,5.7],"consensus":[21.7083,52.9194,27.9021,56.097,36.7007,0.0,-11.1427,-33.0776,0.0,-60.5313,-25.9011,18.6118,-11.6154,-66.3973,-46.5276,-17.8601,-65.4697,-24.978,-39.0247,-36.2916,-43.2426,-22.6479,-44.0785,9.2713,58.4919,0.0,11.7516,0.0,-38.8996,-45.3518,-65.0224,0.0,-20.436,27.3333,-20.0006,43.9384,20.5658,-11.0296,-27.1309,-62.8941,-72.3167,-39.3215,-26.419,-64.1386,0.0,13.8542,39.2604,51.0014,0.0,0.0,24.1397,38.1678,0.0,78.6225,16.931,27.5566,17.8972,0.0,0.0,-60.5555,0.0,-15.9864,0.0,-30.1184,-38.4703,-21.3531,50.2764,51.813,26.9752,19.6717,39.6451,51.4689,39.3204,11.9717,66.7602,-10.0345,-29.2755,34.4187,22.6433,77.8013,0.0,-19.3443,-48.9987,0.0,40.4617,43.3457,38.7053,70.9834,59.868,80.5103,52.074,-36.2293,57.5459,30.9937,14.868,34.2693,-24.6713,-64.6063,-41.3803,-40.1437,-47.0903,-20.8739,-14.8933,57.3201],"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":[0.0,78.4858,4.0762,22.0101,3.3825,0.0,0.0,-55.9901,0.0,-13.8388,0.0,-34.1276,-36.8506,-16.3237,47.1838,50.0185,18.1801,8.0473,37.9135,53.034,33.5394,2.9319,62.7829,-19.4954,-26.3066,33.9055,28.4494,77.5208,0.0,-28.314,-50.5159,0.0,51.6763,43.9491,33.6196,69.308,61.8046,82.7663,52.8378,-36.974,71.3474,42.1619,27.8043,27.079,-29.5586,-65.4489,-38.7995,-36.9012,-40.3104,-20.8337,-14.2379,51.2734],"force":[0.0,97.8414,21.9111,1.6711,4.9083,0.0,0.0,-94.5554,0.0,-11.3495,0.0,-37.8615,-37.2447,-3.4971,86.0844,58.6092,8.2916,1.5735,27.3466,45.194,24.3292,24.096,82.8378,-50.0821,-60.0151,43.9085,16.1044,98.1569,0.0,-56.5798,-60.7977,0.0,55.2043,38.6829,29.5634,88.6349,52.9914,93.4474,26.8513,-91.0716,53.0918,17.2662,6.4272,17.7072,-54.4923,-82.9961,-27.2136,-23.9507,-43.7481,-5.5865,-6.8111,92.9568],"direction":[0.0,65.0508,59.3666,52.385,50.775,0.0,0.0,-41.4875,0.0,-21.7529,0.0,-20.0056,-41.1967,-39.8553,28.2338,49.0094,50.3723,48.1319,50.4087,54.1623,56.6354,48.0657,59.8216,-29.3835,-10.7117,28.2267,20.6783,63.5821,0.0,-17.5036,-38.837,0.0,17.1144,45.9865,51.0473,60.2898,62.5667,68.6912,69.2173,-3.7949,44.9542,28.0353,15.2945,54.3168,-2.2149,-50.5078,-54.4488,-55.4158,-57.226,-39.8202,-31.1455,38.7758],"intensity":[21.1538,98.0769,78.8462,32.6923,36.5385,46.1538,5.7692,92.3077,71.1538,76.9231,19.2308,71.1538,23.0769,30.7692,96.1538,90.3846,67.3077,1.9231,38.4615,44.2308,42.3077,9.6154,80.7692,67.3077,73.0769,67.3077,51.9231,98.0769,84.6154,88.4615,88.4615,78.8462,96.1538,96.1538,7.6923,88.4615,84.6154,96.1538,80.7692,100.0,94.2308,61.5385,40.3846,80.7692,86.5385,98.0769,42.3077,25.0,34.6154,5.7692,13.4615,98.0769],"confirmation":[5.2001,93.747,9.1044,53.4471,28.967,27.0712,3.744,88.4835,31.1705,73.0071,3.3879,77.8128,80.2978,51.6988,85.2269,84.8146,76.1967,51.4936,80.338,84.255,80.2138,8.01,89.9138,33.2225,78.3502,79.311,74.9581,93.521,12.2801,33.5891,84.0161,30.2975,81.2261,81.7193,80.1846,91.2782,86.9187,94.1232,83.8833,59.3963,86.0686,77.3294,50.6161,78.571,54.535,89.2216,80.8493,80.4019,83.0704,52.399,50.9007,44.64],"persistence":[62.5,62.5,62.5,62.5,75.0,75.0,62.5,37.5,37.5,12.5,0.0,25.0,50.0,62.5,50.0,25.0,12.5,12.5,25.0,50.0,75.0,100.0,100.0,75.0,50.0,50.0,50.0,50.0,37.5,12.5,12.5,0.0,25.0,25.0,25.0,25.0,37.5,62.5,87.5,75.0,75.0,75.0,75.0,75.0,50.0,25.0,0.0,0.0,25.0,50.0,75.0,75.0],"assessmentRisk":[16.5739,10.6455,40.9087,32.0724,39.5455,45.866,28.9036,18.6566,48.8877,34.4901,37.3802,18.9157,19.9812,30.0556,8.1609,23.6937,36.4031,40.0201,26.5569,18.4795,29.2168,40.8664,15.9893,12.3542,29.2466,1.3571,37.742,10.9995,47.3104,31.4356,18.7743,49.973,39.2318,21.9243,30.3368,14.4544,19.7791,9.7106,23.9246,0.477,3.9045,36.4342,43.8096,31.8333,7.8535,16.5578,28.0449,29.6062,25.2201,7.3525,2.6872,18.0999],"volumeParticipation":true,"latest":{"consensus":57.3,"control":51.3,"force":93.0,"direction":38.8,"confirmation":44.6,"persistence":75.0,"assessmentRisk":18.1,"intensity":98.1,"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":"Established","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+57.3","detail":"Price structure has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+51.3","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+93.0","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+38.8","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":"57.6","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"8.7%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"17.8","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"74%","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 trend 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