{"schema_version":"1.0","name":"3406 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"28a0abca-4182-453c-81f5-be835b7c88ce","symbol":"3406","name":"Ping An of China Trust - Ping An Technology Select ETF","exchange":"HKG","country":"HK","asset_type":"etf","currency":"HKD","sector":null,"industry":null},"summary":"Market Dynamics strengthened this week and remains positive. The broader path has not changed enough to establish a new direction. Price structure remains rotational.","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, Range pressure and compression, Acceleration, deceleration and rollover, Activity pressure and cumulative balance, Drawdown and recovery pressure, Directional strength and control."},{"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":"2026-08-21","observations":46,"displayedObservations":46,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics strengthened this week and remains positive. The broader path has not changed enough to establish a new direction. Price structure remains rotational.","evidenceAlignment":{"status":"Positive support; price rotational","headline":"Market Dynamics is positive while price has no clear direction","summary":"Market Dynamics strengthened this week and remains positive. The broader path has not changed enough to establish a new direction. Price structure remains rotational.","take":"The underlying condition is constructive, but a positive price response is still required.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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","2026-08-21"],"values":[0.020431,0.131081,0.473756,0.77002,1.10969,1.335384,0.991608,0.824566,0.680686,0.413698,0.304024,0.280646,0.158496,0.09044,-0.001665,-0.032669,0.030828,0.117713],"opens":[15.25,15.14,15.29,15.79,15.35,15.65,15.6,15.08,15.23,14.36,14.69,15.29,15.07,14.98,14.76,15.14,15.55,15.41],"highs":[15.25,15.16,15.85,16.09,15.51,15.78,15.69,15.14,15.71,14.36,14.71,15.32,15.07,15.15,14.94,15.63,15.61,15.46],"lows":[15.05,15.01,15.27,15.45,15.26,15.38,15.59,15.0,14.97,14.13,14.65,15.14,14.66,14.6,14.5,15.06,15.27,15.02],"closes":[15.05,15.01,15.79,15.61,15.46,15.69,15.59,15.0,15.0,14.18,14.67,15.14,14.67,14.62,14.93,15.44,15.3,15.2],"hoverRows":[[{"label":"Open","value":"15.2","className":"is-ohlc","compact":true},{"label":"High","value":"15.2","className":"is-ohlc","compact":true},{"label":"Low","value":"15.1","className":"is-ohlc","compact":true},{"label":"Close","value":"15.1","className":"is-ohlc","compact":true},{"label":"Market 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weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"15.1","className":"is-ohlc","compact":true},{"label":"High","value":"15.6","className":"is-ohlc","compact":true},{"label":"Low","value":"15.1","className":"is-ohlc","compact":true},{"label":"Close","value":"15.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.03","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"15.6","className":"is-ohlc","compact":true},{"label":"High","value":"15.6","className":"is-ohlc","compact":true},{"label":"Low","value":"15.3","className":"is-ohlc","compact":true},{"label":"Close","value":"15.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.03","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"15.4","className":"is-ohlc","compact":true},{"label":"High","value":"15.5","className":"is-ohlc","compact":true},{"label":"Low","value":"15.0","className":"is-ohlc","compact":true},{"label":"Close","value":"15.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.12","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[14.0834,15.8866],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":0.117713,"state":"Positive and broadly steady","context":{"scenario":"positiveSteady","latestDirection":"strengthening","fourWeekDirection":"steady","now":{"label":"Stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeek":{"label":"Broadly steady over four weeks","detail":"The broader path has not changed enough to establish a new direction."},"price":{"label":"Price and Market Dynamics are broadly aligned","detail":"The current price response is broadly consistent with the underlying Market Dynamics path."}},"diagnosis":{"label":"Positive and broadly steady","detail":"Price is between the accumulation and distribution zones. The Market Dynamics bars describe whether the current move is gaining or losing underlying support.","tone":"positive"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price is between the accumulation and distribution zones. The Market Dynamics bars describe whether the current move is gaining or losing underlying support.","annotations":[{"label":"Current tape relationship","value":"Positive and broadly steady","detail":"Market Dynamics strengthened this week and remains positive.","tone":"positive"},{"label":"Price location","value":"Between zones","detail":"Price is travelling between the two major positioning zones.","tone":"neutral"},{"label":"Latest positioning marker","value":"None in view","detail":"Entering the lower zone alone does not create a positioning confirmation.","tone":"neutral"},{"label":"Market Dynamics confirmation","value":"Supported","detail":"The broader path has not changed enough to establish a new direction.","tone":"positive"}],"relationshipEvidence":{"available":false,"observations":18,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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","2026-08-21"],"close":[17.19,16.12,16.799,16.94,16.46,16.33,15.4,16.04,16.2,16.12,15.67,15.82,16.08,16.01,16.44,16.16,16.23,15.28,15.39,15.17,15.11,14.56,14.6,14.32,14.0,13.93,14.48,15.19,15.05,15.01,15.79,15.61,15.46,15.69,15.59,15.0,15.0,14.18,14.67,15.14,14.67,14.62,14.93,15.44,15.3,15.2],"consensus":[-100.0,-100.0,100.0,-100.0,-77.8285,-37.827,-73.9497,0.0,0.0,-24.3069,-36.2296,-22.6349,0.0,-32.1897,55.964,0.0,0.0,-73.4252,-44.2794,-62.6409,-57.6653,-45.4132,-30.2172,-70.5521,-53.299,-24.5656,-11.9705,55.7999,0.0,0.0,62.1624,14.868,25.3861,41.5608,0.0,-53.6911,-24.1547,-67.6604,0.0,16.6027,-50.7553,-20.7473,32.8335,50.2133,0.0,5.4579],"supportDates":["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","2026-08-21"],"control":[null,null,null,null,null,-52.521,-81.6941,0.0,0.0,-22.1254,-53.6833,-17.4152,0.0,-36.2406,51.664,0.0,0.0,-78.6789,-44.2425,-66.6137,-59.3633,-37.2139,-21.885,-73.6511,-50.3663,-10.7223,-10.706,50.6707,0.0,0.0,70.9442,1.9192,21.5819,41.0738,0.0,-56.3684,-22.6098,-68.7408,0.0,1.5226,-52.0777,-33.7249,26.7196,46.1233,0.0,4.0994],"force":[-100.0,-100.0,100.0,-100.0,-77.0282,-31.3282,-55.8593,0.0,0.0,-8.8622,-18.4507,-2.2698,0.0,-34.5369,77.3228,0.0,0.0,-92.9352,-33.3659,-65.0291,-55.9345,-34.8513,-0.2122,-74.8425,-38.8879,-8.6673,-18.2172,92.8687,0.0,0.0,51.0236,11.309,10.6827,26.9784,0.0,-84.1923,-24.7827,-84.1795,0.0,45.1757,-77.9986,-22.2137,74.4651,75.0681,0.0,12.1641],"direction":[null,null,null,null,-78.4002,-25.6758,-78.0206,0.0,0.0,-37.8319,-28.9818,-46.3894,0.0,-25.8835,45.6219,0.0,0.0,-53.4852,-52.117,-56.3946,-56.9609,-62.3282,-61.4751,-63.9456,-66.9442,-64.1243,-34.9783,35.1842,0.0,0.0,60.0823,48.3645,40.2363,52.5334,0.0,-28.8448,-25.4718,-54.6263,0.0,13.4279,-29.7846,-4.8683,10.0839,37.1342,0.0,28.9677],"intensity":[null,null,null,null,50.0,20.0,83.3333,57.1429,25.0,11.1111,40.0,27.2727,25.0,15.3846,50.0,40.0,56.25,94.1176,11.1111,42.1053,5.0,85.7143,13.6364,39.1304,75.0,48.0,88.4615,81.4815,71.4286,10.3448,86.6667,25.8065,71.875,33.3333,20.5882,74.2857,66.6667,100.0,60.5263,74.359,55.0,4.878,40.4762,81.3953,20.4545,26.6667],"confirmation":[54.6667,54.6667,54.6667,54.6667,70.2019,79.6827,90.9946,35.099,29.7978,75.3407,78.7857,52.3813,29.6722,78.3105,86.6249,24.8671,24.2074,92.0106,81.8374,88.0573,86.3743,82.3353,54.2477,90.6602,84.6612,31.5748,29.4828,87.0639,30.4121,28.9042,87.4187,6.5699,75.7334,80.8625,5.1669,86.0699,75.7722,90.1383,32.7379,51.7468,85.0518,51.8194,79.8687,84.8881,31.4235,4.8247],"persistence":[null,null,33.3333,50.0,60.0,66.6667,71.4286,62.5,50.0,50.0,75.0,75.0,62.5,62.5,37.5,37.5,37.5,37.5,37.5,37.5,50.0,50.0,75.0,87.5,100.0,100.0,100.0,75.0,62.5,50.0,25.0,0.0,25.0,50.0,62.5,37.5,25.0,12.5,0.0,0.0,25.0,50.0,37.5,12.5,0.0,12.5],"assessmentRisk":[null,null,null,null,1.329,36.0642,12.0462,42.3449,18.1464,5.1334,40.4665,7.9252,14.2775,5.4574,19.1017,32.2274,15.5362,9.419,26.8572,18.0683,21.0314,25.5999,33.7062,13.9764,23.1936,35.6855,9.4158,20.6296,51.2882,49.8671,18.7995,32.0204,26.4184,26.1738,24.9597,18.647,29.3035,16.0567,44.6508,6.5942,6.7771,48.8695,10.069,6.18,45.7247,41.8208],"volumeParticipation":true,"latest":{"consensus":5.5,"control":4.1,"force":12.2,"direction":29.0,"confirmation":4.8,"persistence":12.5,"assessmentRisk":41.8,"intensity":26.7,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the upward view","summary":"The completed evidence gives the upward view the clearer support.","take":"Current assessment: upward pressure has the stronger support.","tone":"positive","supportedView":"Market Dynamics","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Control support is limited","controlPath":"Control support is easing","forceState":"Upward commitment","forcePath":"Commitment is easing","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Present","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+5.5","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+4.1","detail":"Control support is limited","tone":"positive"},{"label":"SM Force Gauge","value":"+12.2","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+29.0","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"5/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"44.6","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"3.3%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"17.2","detail":"Range-led","tone":"neutral"},{"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 is rotating 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direction.","series":[{"label":"Impulse","values":[null,null,null,null,null,null,null,null,null,null,null,null,-0.3347,-0.3252,-0.2797,-0.2632,-0.2417,-0.2979,-0.3297,-0.3685,-0.3994,-0.463,-0.5043,-0.5533,-0.6109,-0.6546,-0.6376,-0.5603,-0.5045,-0.4583,-0.3546,-0.2837,-0.2369,-0.1792,-0.1399,-0.1545,-0.1643,-0.2355,-0.2495,-0.2201,-0.232,-0.2428,-0.2237,-0.1655,-0.1292,-0.1072],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,-0.2966,-0.2969,-0.3035,-0.3165,-0.3331,-0.359,-0.3881,-0.4211,-0.4591,-0.4982,-0.5261,-0.5329,-0.5272,-0.5134,-0.4817,-0.4421,-0.401,-0.3567,-0.3133,-0.2816,-0.2581,-0.2536,-0.2527,-0.2462,-0.2434,-0.2433,-0.2393,-0.2246,-0.2055,-0.1858],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.055,-0.001,-0.0263,-0.052,-0.0664,-0.1039,-0.1162,-0.1322,-0.1518,-0.1564,-0.1115,-0.0274,0.0227,0.0552,0.1271,0.1584,0.1642,0.1775,0.1734,0.127,0.0938,0.0181,0.0033,0.0261,0.0113,0.0005,0.0157,0.0591,0.0763,0.0786],"stroke":"#07865c","width":1.0,"fill":"rgba(7,134,92,.12)"}],"guides":[{"label":"Neutral","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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","2026-08-21"]},{"key":"participation","eyebrow":"Participation","title":"Activity 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3406 Technical Research Pack, completed week 2026-08-21, https://sharemaestro.com/terminal/28a0abca-4182-453c-81f5-be835b7c88ce/technical-pack/","data_notes":{"time_series":"Parallel time-series arrays align by index with their dates array.","events":"Sparse chart markers are published as compact dated event records rather than null-filled arrays.","missing_values":"A remaining null in an aligned series means that observation is genuinely unavailable; zero remains a valid value."},"boundary":"Completed market observations and published proprietary outputs only. Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}