{"schema_version":"1.0","name":"688802 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"2f246201-3427-4dbd-8a43-a1191a79ffcc","symbol":"688802","name":"METAX INTEGRATED CIRCUITS SHANG","exchange":"SHH","country":"CN","asset_type":"equity","currency":"CNY","sector":"Technology","industry":"Electronic Components"},"summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","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, Acceleration, deceleration and rollover, Drawdown and recovery pressure, Range pressure and compression, Activity pressure and cumulative balance, 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":35,"displayedObservations":35,"assetType":"Equity","state":"Rotational","stateTone":"caution","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","evidenceAlignment":{"status":"Evidence developing","headline":"Price structure is visible; Market Dynamics is not yet established","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","take":"Treat movement through the zones as price-location context only. Reaching the upper zone shows extension, but without an established Market Dynamics read it does not by itself establish active distribution, divergence or reversal 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Market Dynamics history is not yet sufficient to classify the move.","tone":"neutral"},"chartSummary":"Price is in the accumulation zone. The Market Dynamics bars show whether underlying conditions are repairing or continuing to weaken.","summary":"Across the displayed history, price has moved from the upper positioning area into the lower accumulation zone. Market Dynamics history is not yet sufficient to classify the move.","annotations":[{"label":"Current tape relationship","value":"Zone progression","detail":"Market Dynamics weakened this week and remains below zero.","tone":"neutral"},{"label":"Price location","value":"Accumulation zone","detail":"Price is in the lower accumulation area. 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response.","confirm":"Treat movement through the zones as price-location context only. Reaching the upper zone shows extension, but without an established Market Dynamics read it does not by itself establish active distribution, divergence or reversal risk.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"weakening","zone":"accumulation","zoneContext":"Across the displayed history, price has moved from the upper positioning area into the lower accumulation zone. Market Dynamics history is not yet sufficient to classify the move.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","sample":0},"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 has no clear direction","detail":"Price remains rotational while the Market Dynamics condition develops."}},"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":"The current relationship is visible, but this ticker does not yet have a completed comparable outcome.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics 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tape has stronger support","headline":"The gauges support the downward view","summary":"The completed evidence gives the downward view the clearer support.","take":"Current assessment: downward pressure has the stronger support.","tone":"negative","supportedView":"Completed tape","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is strengthening","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-33.0","detail":"Completed tape has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-31.4","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-43.0","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-27.7","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"55/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"42.3","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"16.2%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"21.0","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"42%","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 through its trend references.","series":[{"label":"Close","values":[715.6,619.7,580.1,634.81,601.8,587.43,558.08,493.88,512.99,535.62,533.72,513.2,573.79,598.14,588.51,612.27,721.0,718.0,758.03,784.0,715.35,728.45,676.02,710.0,694.89,769.89,730.4,738.38,909.35,779.97,821.61,688.87,729.08,748.0,700.0],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,656.8486,644.227,628.5639,604.0759,587.5149,578.0794,570.0141,559.6842,562.2489,568.7746,572.3628,579.6187,605.3244,625.8109,649.8507,674.2415,681.7158,690.2129,687.6324,691.6992,692.2794,706.3904,710.7558,715.7784,750.9732,756.2453,768.1298,753.7189,749.2391,749.0138,740.1022],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,618.7342,617.2087,615.0829,614.8745,622.7357,629.7923,639.2914,650.0105,654.8505,660.3023,661.4666,665.0617,667.2712,674.8726,678.9857,683.3853,700.1234,706.038,714.5989,712.693,713.9069,716.4323,715.2151],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,706.7935,700.0245,695.0364,690.2753,688.4662,685.6879,685.866,710.733,728.6565,752.7364,777.9572,777.9135,790.9561,796.6568,804.53,811.2587,828.9542,837.5958,839.6232,876.6113,881.5268,889.0272,875.0698,868.9036,864.7295,854.4002],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower 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momentum.","reason":"Selected because the latest impulse is unusually active or is approaching a change of direction.","series":[{"label":"Impulse","values":[null,null,null,null,null,null,null,null,null,null,null,null,-47.5362,-41.8657,-37.7142,-32.1364,-18.7265,-8.2461,3.2523,14.2957,17.3086,20.5169,18.6143,19.6222,18.9829,24.2485,24.9475,25.8475,39.8966,40.1282,43.174,34.4794,30.4821,28.5123,22.8149],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,-37.4724,-31.6271,-24.6512,-16.8619,-10.0278,-3.9188,0.5878,4.3947,7.3123,10.6996,13.5492,16.0088,20.7864,24.6547,28.3586,29.5828,29.7626,29.5126,28.173],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,18.7459,23.3811,27.9036,31.1576,27.3364,24.4358,18.0265,15.2275,11.6705,13.549,11.3984,9.8386,19.1102,15.4735,14.8154,4.8967,0.7195,-1.0003,-5.3581],"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],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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","2026-02-27","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":"drawdown","eyebrow":"Path 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688802 Technical Research Pack, completed week 2026-08-21, https://sharemaestro.com/terminal/2f246201-3427-4dbd-8a43-a1191a79ffcc/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."}