{"schema_version":"1.0","name":"BDSB Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"3f6a62b0-2599-484d-b7bb-0ac4621a3075","symbol":"BDSB","name":"Banco de Sabadell, S.A.","exchange":"GER","country":"DE","asset_type":"equity","currency":"EUR","sector":"Financial Services","industry":"Banks - Diversified"},"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, Range position and boundary pressure, Range pressure and compression, Directional strength and control, Activity pressure and cumulative balance."},{"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":29,"displayedObservations":29,"assetType":"Equity","state":"Aligned upward","stateTone":"positive","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 risk.","tone":"neutral","conflict":false},"marketDynamics":{"available":true,"readAvailable":false,"dates":["2026-08-14"],"values":[0.310927],"opens":[3.47],"highs":[3.642],"lows":[3.469],"closes":[3.642],"pressureRange":[-0.354457,0.354457],"priceRange":[2.642,4.642],"zones":{"accumulationBoundary":0.06,"distributionBoundary":0.94},"state":"Insufficient history","context":{"scenario":"developing","latestDirection":"steady","fourWeekDirection":"steady","now":{"label":"Little changed this week","detail":"Market Dynamics remains positive and was little changed this week."},"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":"Zone progression","detail":"Price is travelling between the lower accumulation area and the upper positioning zone. Market Dynamics history is not yet sufficient to confirm or challenge that progression.","tone":"neutral"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price is travelling between the lower accumulation area and the upper positioning zone. Market Dynamics history is not yet sufficient to confirm or challenge that progression.","annotations":[{"label":"Current tape relationship","value":"Zone progression","detail":"Market Dynamics remains positive and was little changed this week.","tone":"neutral"},{"label":"Price location","value":"Between zones","detail":"Price is progressing between the lower and upper positioning zones while the Market Dynamics read develops.","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":"Unavailable","detail":"Too little usable Market Dynamics history is available for a directional confirmation read.","tone":"neutral"}],"relationshipEvidence":{"available":false,"observations":24,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"distribution_rollovers":[],"price_pressure_gaps":[]}},"smTape":{"available":true,"dates":["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":[2.801,2.6546,2.7916,2.789,2.7642,2.5715,2.5955,2.5681,2.6075,2.6263,2.8096,2.8695,2.6957,2.8019,2.8986,2.7402,2.9149,2.894,2.866,2.932,3.155,3.084,3.168,3.222,3.172,3.366,3.321,3.452,3.642],"consensus":[85.3859,-88.8885,35.9996,39.3955,-11.2684,-30.0398,-22.537,-28.1925,0.0,0.0,39.6281,38.9872,-18.6994,32.7151,32.7902,-30.6374,46.176,0.0,0.0,37.5071,56.6509,21.5404,38.8127,44.2444,0.0,62.519,20.6543,60.2027,76.4192],"supportDates":["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":[null,null,null,null,null,-36.3242,-20.9848,-26.9799,0.0,0.0,42.1824,38.9488,-31.8335,35.1541,32.5259,-32.7483,49.8452,0.0,0.0,43.6557,68.4856,16.2585,36.48,46.4066,0.0,67.1836,15.3205,65.0964,81.0644],"force":[85.3859,-88.8885,35.9996,39.3955,-17.3396,-22.17,-12.2275,-20.7705,0.0,0.0,44.4111,32.9347,-29.8182,35.7959,34.1839,-49.0304,57.4054,0.0,0.0,33.3007,43.9932,2.5736,21.9228,24.2584,0.0,58.8832,12.369,54.1652,82.4047],"direction":[null,null,null,null,-6.9319,-28.4789,-31.675,-34.88,0.0,0.0,33.2924,43.3542,-4.2531,27.7272,32.0968,-15.087,33.9617,0.0,0.0,33.4847,52.1667,44.8011,53.5427,56.0492,0.0,59.7851,50.3382,58.9225,66.835],"intensity":[null,null,null,null,50.0,100.0,33.3333,42.8571,25.0,55.5556,80.0,72.7273,75.0,53.8462,64.2857,66.6667,81.25,41.1765,50.0,10.5263,100.0,19.0476,31.8182,8.6957,8.3333,88.0,53.8462,59.2593,85.7143],"confirmation":[49.9901,51.111,34.1865,35.2732,26.5501,77.2771,74.9213,76.8139,4.6814,1.6097,80.7878,80.292,52.3632,78.5256,78.5394,78.3323,83.0627,4.8312,1.8839,79.7804,85.5622,52.1209,79.9409,81.5162,6.8851,87.8242,30.9896,87.0063,55.0],"persistence":[null,null,33.3333,50.0,20.0,0.0,14.2857,25.0,37.5,25.0,25.0,25.0,25.0,0.0,25.0,25.0,37.5,37.5,25.0,25.0,50.0,50.0,50.0,75.0,62.5,75.0,87.5,87.5,87.5],"assessmentRisk":[null,null,null,null,11.8875,15.6793,36.0532,34.6556,44.4075,27.5516,28.3815,30.2111,42.4146,29.5962,18.12,26.1853,24.4788,31.4579,15.5488,28.7249,20.1165,35.1963,29.9351,27.2794,5.6101,18.1991,33.8692,18.3072,11.781],"volumeParticipation":true,"latest":{"consensus":76.4,"control":81.1,"force":82.4,"direction":66.8,"confirmation":55.0,"persistence":87.5,"assessmentRisk":11.8,"intensity":85.7,"evidenceDepth":100},"analysis":{"status":"Price structure has the available support","headline":"The gauges support the price-technical view","summary":"Market Dynamics does not provide a directional confirmation. The completed evidence supports the upward price structure.","take":"Current assessment: follow price structure with limited confirmation.","tone":"positive","supportedView":"Price structure","direction":"upward","disagreement":false},"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":"+76.4","detail":"Price structure has the available support","tone":"positive"},{"label":"SM Control Gauge","value":"+81.1","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+82.4","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+66.8","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"55/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"62.5","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"5.0%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"33.9","detail":"Directional","tone":"positive"},{"label":"Range position","value":"100%","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 references are aligned upward.","series":[{"label":"Close","values":[2.801,2.6546,2.7916,2.789,2.7642,2.5715,2.5955,2.5681,2.6075,2.6263,2.8096,2.8695,2.6957,2.8019,2.8986,2.7402,2.9149,2.894,2.866,2.932,3.155,3.084,3.168,3.222,3.172,3.366,3.321,3.452,3.642],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,2.7768,2.7395,2.7133,2.6869,2.6725,2.6641,2.6905,2.7231,2.7181,2.7333,2.7634,2.7592,2.7875,2.8069,2.8176,2.8384,2.896,2.9302,2.9734,3.0186,3.0465,3.1046,3.1439,3.1999,3.2803],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,2.7395,2.7441,2.7556,2.7544,2.7663,2.7758,2.7825,2.7935,2.8203,2.8399,2.8642,2.8907,2.9115,2.9452,2.973,3.0085,3.0554],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,2.8626,2.8818,2.9139,2.905,2.9113,2.9385,2.9329,2.9569,2.9714,2.9784,2.9954,3.0693,3.1137,3.1712,3.2339,3.2781,3.3504,3.3996,3.4633,3.5636],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,2.4913,2.4962,2.4942,2.5018,2.5096,2.5075,2.5152,2.5137,2.5168,2.5227,2.5238,2.4853,2.4838,2.464,2.4446,2.4412,2.4483,2.4716,2.4963,2.4995],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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":"impulse","eyebrow":"Price impulse","title":"Acceleration, deceleration and rollover","description":"The impulse path separates directional acceleration from a loss of 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,-0.0202,-0.0122,0.002,0.0005,0.0132,0.0214,0.0253,0.0333,0.057,0.0693,0.0848,0.1003,0.1073,0.1271,0.1375,0.1546,0.1813],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,-0.0065,-0.001,0.0043,0.0101,0.0195,0.0294,0.0405,0.0525,0.0634,0.0762,0.0884,0.1017,0.1176],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.0198,0.0223,0.021,0.0232,0.0375,0.0398,0.0443,0.0478,0.0439,0.0509,0.0491,0.0529,0.0637],"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],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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":"range","eyebrow":"Acceptance 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and envelope width show whether risk is expanding, settling or compressed.","reason":"Selected because current variability is unusually compressed or expanded versus this ticker's own tape.","series":[{"label":"Range pressure","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,9.261,8.8864,9.1417,8.408,8.2218,7.8088,7.2486,6.7599,6.586,6.1429,5.7304,5.5626,5.4533,5.5539,5.2698,5.0107],"stroke":"#c13f3f","width":1.9},{"label":"Envelope 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