{"schema_version":"1.0","name":"SMHN Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"3541b379-caf3-468e-b7e6-4b270bd636aa","symbol":"SMHN","name":"SUSS MicroTec SE","exchange":"VIE","country":"AT","asset_type":"equity","currency":"EUR","sector":"Technology","industry":"Semiconductor Equipment & Materials"},"summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. 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, Strength versus the research benchmark, Acceleration, deceleration and rollover, Drawdown and recovery pressure, 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":"2026-08-14","observations":74,"displayedObservations":74,"assetType":"Equity","state":"Rotational","stateTone":"caution","summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","evidenceAlignment":{"status":"Underlying support lags price","headline":"Market Dynamics is weaker than the current price position","summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","take":"This is a downside risk watch, not a completed reversal. 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history."},"events":{"positioning_recoveries":[{"date":"2026-01-09","price":46.799999}],"reversal_warnings":[{"date":"2026-06-19","price":112.599998}],"reversal_dangers":[{"date":"2026-06-26","price":92.75}]}},"smTape":{"available":true,"dates":["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":[40.4831,33.6367,29.6181,29.0327,30.1837,32.9024,34.6884,35.3433,39.5107,35.7204,38.0223,39.22,41.14,41.1,46.02,43.38,41.88,42.96,38.88,32.24,30.74,27.54,27.58,25.86,25.6,26.2,29.72,29.6,33.36,33.34,35.08,36.76,27.94,30.64,33.74,32.5,32.9,39.04,39.08,39.02,38.04,40.78,46.8,48.14,48.56,49.82,46.54,47.68,50.05,55.2,52.2,60.15,58.05,52.35,50.6794,61.475,66.6229,69.7717,75.4693,88.564,89.9635,90.3133,91.9626,89.6,95.2,112.6,92.75,87.8,85.1,78.9,79.2,77.85,83.25,83.3],"consensus":[100.0,-100.0,-79.0323,55.2448,-63.028,0.0,35.5583,30.0169,74.3801,-18.6431,34.5752,52.3391,47.1366,24.6372,74.9198,12.3171,0.0,38.5418,-42.6787,-58.5898,-53.5919,-77.5344,-27.8799,-74.2693,-32.0289,-37.9153,23.8614,-16.1089,55.8861,13.1393,23.5381,55.1266,-60.9748,10.0534,29.4255,-28.2393,15.9948,63.8466,41.1183,43.6955,10.3334,50.0106,73.2756,54.5828,50.0748,44.725,0.0,30.988,61.015,77.3974,0.0,74.495,12.1318,-27.4832,0.0,63.0409,65.1031,59.3866,71.4363,85.2614,56.2722,45.9725,44.1485,28.4791,61.0848,69.7984,0.0,8.0044,0.0,-44.7144,-24.8514,-20.4372,25.3868,-8.9992],"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":[-11.2952,-73.3529,-17.8428,-41.7569,26.6659,-29.3075,53.6156,1.5969,12.6746,62.059,-52.7796,19.1046,30.4618,-23.4646,7.52,67.882,41.7469,45.9674,6.954,58.2309,84.8927,45.1433,45.6188,39.0267,0.0,30.5588,64.4904,79.681,0.0,69.7598,2.1922,-23.7648,0.0,68.4411,73.2718,66.2032,75.8425,88.2182,55.4871,41.2722,38.2195,31.2708,72.895,77.3617,0.0,14.8567,0.0,-40.3997,-18.439,-9.9353,27.7506,-10.6472],"force":[-3.0821,-80.802,-2.2081,-5.5295,73.4062,-8.2216,87.0164,1.3406,7.6727,42.3581,-95.514,40.9383,55.9814,-59.939,15.938,65.6098,19.1548,22.8781,15.5367,38.1352,60.8621,49.0824,31.183,22.9112,0.0,27.8547,74.8964,93.366,0.0,94.2589,39.1815,-82.4153,0.0,84.0268,59.4823,41.6662,69.6081,96.3252,32.9271,17.2451,15.8611,6.8478,40.4751,50.2467,0.0,5.3503,0.0,-54.3274,-12.9345,-7.8719,70.2198,-13.2816],"direction":[-68.9496,-70.6503,-69.5422,-56.6576,14.7328,-6.6584,36.2451,36.6732,47.2862,56.3241,-45.67,22.3515,9.2727,-11.0535,25.721,57.9754,56.0882,55.9685,48.5691,49.0985,68.8656,69.2997,68.6614,66.8185,0.0,33.7166,47.1278,63.3816,0.0,65.7897,60.1438,-7.5045,0.0,41.8793,59.7823,64.2536,67.7066,73.9795,73.8445,71.8639,71.13,50.522,62.3086,75.1201,0.0,9.7124,0.0,-42.7789,-40.692,-41.4145,9.3383,-4.0571],"intensity":[31.8182,13.0435,16.6667,28.0,61.5385,51.8519,67.8571,44.8276,26.6667,9.6774,100.0,84.8485,85.2941,57.1429,69.4444,83.7838,65.7895,2.5641,7.5,41.4634,83.3333,69.7674,11.3636,73.3333,65.2174,8.5106,31.25,79.5918,48.0,96.0784,96.1538,80.7692,100.0,100.0,86.5385,86.5385,73.0769,100.0,78.8462,36.5385,67.3077,51.9231,67.3077,100.0,100.0,82.6923,57.6923,71.1538,51.9231,90.3846,59.6154,73.0769],"confirmation":[54.2215,91.9792,54.8899,56.4207,34.9125,50.0467,86.8669,26.8918,52.5476,85.1457,88.6894,31.4554,78.2097,78.0754,50.5791,88.4232,80.4789,81.3135,7.5797,83.5162,90.8928,85.4427,83.5161,81.734,11.4041,77.8272,87.8949,93.219,12.0671,92.5129,10.8285,57.4597,2.7578,88.7304,88.5372,86.3598,90.7368,95.5758,85.3076,81.9073,81.3558,54.7883,86.7391,89.6244,33.5491,48.5247,3.3299,82.6673,75.687,51.6503,34.1129,48.3185],"persistence":[37.5,62.5,75.0,100.0,75.0,75.0,50.0,25.0,0.0,25.0,25.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,75.0,75.0,75.0,100.0,100.0,100.0,87.5,87.5,87.5,87.5,75.0,75.0,75.0,50.0,50.0,50.0,50.0,50.0,62.5,62.5,62.5,87.5,100.0,100.0,100.0,100.0,87.5,87.5,75.0,50.0,25.0,0.0,0.0,0.0],"assessmentRisk":[36.013,11.7667,31.5767,4.0783,19.0328,53.4927,21.6988,42.8719,36.1232,21.9792,16.5837,39.5859,34.889,29.54,38.0635,17.336,25.154,26.1131,40.2278,1.0247,11.9706,22.0651,24.6659,27.6012,1.4826,24.4043,3.6477,9.5831,46.647,12.7143,43.1608,18.1879,19.6011,17.1153,15.1065,20.2547,14.279,7.3656,21.8489,26.9672,27.7204,4.5551,7.9148,15.021,8.3445,14.0542,41.0385,27.5949,33.1834,30.5859,24.017,20.496],"volumeParticipation":true,"latest":{"consensus":-9.0,"control":-10.6,"force":-13.3,"direction":-4.1,"confirmation":48.3,"persistence":0.0,"assessmentRisk":20.5,"intensity":73.1,"evidenceDepth":100},"analysis":{"status":"Market Dynamics 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":"Market Dynamics","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Control support is limited","controlPath":"Control support is easing","forceState":"Downward commitment","forcePath":"Commitment is easing","directionState":"Follow-through is limited","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"-9.0","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-10.6","detail":"Control support is limited","tone":"negative"},{"label":"SM Force Gauge","value":"-13.3","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-4.1","detail":"Follow-through is limited","tone":"negative"},{"label":"SM Confirmation Gauge","value":"48/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"56.3","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"10.4%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"32.8","detail":"Directional","tone":"positive"},{"label":"Range position","value":"57%","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":[40.4831,33.6367,29.6181,29.0327,30.1837,32.9024,34.6884,35.3433,39.5107,35.7204,38.0223,39.22,41.14,41.1,46.02,43.38,41.88,42.96,38.88,32.24,30.74,27.54,27.58,25.86,25.6,26.2,29.72,29.6,33.36,33.34,35.08,36.76,27.94,30.64,33.74,32.5,32.9,39.04,39.08,39.02,38.04,40.78,46.8,48.14,48.56,49.82,46.54,47.68,50.05,55.2,52.2,60.15,58.05,52.35,50.6794,61.475,66.6229,69.7717,75.4693,88.564,89.9635,90.3133,91.9626,89.6,95.2,112.6,92.75,87.8,85.1,78.9,79.2,77.85,83.25,83.3],"stroke":"#10243b","width":2.1},{"label":"Fast 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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 tape.","series":[{"label":"Drawdown","values":[0.0,-16.9118,-26.8382,-28.2843,-25.4412,-18.7255,-14.3137,-12.6961,-2.402,-11.7647,-6.0784,-3.12,0.0,-0.0972,0.0,-5.7366,-8.9961,-6.6493,-15.515,-29.9435,-33.203,-40.1565,-40.0695,-43.807,-44.372,-43.0682,-35.4194,-35.6801,-27.5098,-27.5532,-23.7723,-20.1217,-39.2873,-33.4203,-26.684,-29.3785,-28.5093,-15.1673,-15.0804,-15.2108,-17.3403,-11.3864,0.0,0.0,0.0,0.0,-6.5837,-4.2955,0.0,0.0,-5.4348,0.0,-3.4913,-12.9676,-15.745,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,-2.5691,0.0,0.0,-17.6288,-22.0249,-24.4227,-29.9289,-29.6625,-30.8615,-26.0657,-26.0213],"stroke":"#c13f3f","width":1.9,"fill":"rgba(193,63,63,.10)"},{"label":"Recovery","values":[null,null,null,null,null,null,null,21.7362,36.0902,23.0349,30.9638,35.089,41.7022,41.5645,58.5109,49.4177,44.2511,47.971,33.9179,11.0472,5.8806,0.0,0.1452,0.0,0.0,2.3438,16.0937,15.625,30.3125,30.2344,37.0313,43.5937,9.1406,19.6875,31.7969,26.9531,28.5156,52.5,52.6563,52.4219,48.5938,59.2969,82.8125,88.0469,89.6875,94.6094,81.7969,86.25,95.5078,115.625,99.2366,115.2827,107.7666,87.3658,81.3866,120.0251,138.45,149.7196,146.3099,172.5047,176.8106,174.5085,141.7525,135.5415,150.2629,196.0042,127.4399,88.6549,82.8535,69.5316,70.1762,67.2755,74.6015,66.4336],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Prior 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pressure and cumulative balance","description":"Observed activity is compared with its normal backdrop while cumulative balance tracks directional participation.","reason":"Selected because participation is confirming or diverging from the latest price path.","series":[{"label":"Activity versus norm","values":[null,null,null,null,null,null,null,727.2867,101.9214,150.6355,0.0,37.2796,0.0,0.0,0.0,155.999,0.0,46.0743,0.0,104.0597,173.6444,112.407,32.2485,164.0625,12.3094,0.0,34.7972,119.5805,82.1046,386.0397,0.0,0.0,788.4219,34.4199,355.8589,82.701,40.922,16.8549,145.3579,45.1128,0.0,0.0,0.0,219.3425,136.5822,11.9887,440.6823,292.2257,299.8694,76.9572,392.9761,239.0675,118.9574,148.0775,258.8603,77.9398,38.9035,0.0,75.3282,333.0825,109.7115,148.1011,1.0342,0.0484,0.0494,2.0288,0.0,19.1299,0.0633,39.4875,14.6117,18.3971,173.2388,48.1434],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,135.0,135.0,127.5998,127.5998,129.1749,129.1749,129.1749,129.1749,123.6975,123.6975,125.1733,125.1733,122.0089,116.2264,112.2603,113.4168,107.3079,106.8467,106.8467,108.1735,105.4632,107.2015,98.8435,98.8435,98.8435,71.6907,72.8968,88.0661,84.625,86.3633,87.0728,93.6712,91.6491,91.6491,91.6491,91.6491,100.596,106.5417,107.0667,82.688,101.1565,123.1441,128.6783,93.508,117.8086,106.6694,91.791,65.0,73.3168,77.5168,77.5168,85.6881,128.6446,135.0,135.0,135.0,134.9963,135.0,135.0,135.0,133.7775,133.7738,131.4871,132.2052,131.4098,135.0,135.0],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical 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