{"schema_version":"1.0","name":"PRTC Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"40a5e333-7a58-4da5-9a4c-4e554f98f8c2","symbol":"PRTC","name":"PureTech Health plc","exchange":"LSE","country":"GB","asset_type":"equity","currency":"GBP","sector":"Healthcare","industry":"Biotechnology"},"summary":"Price structure and the underlying tape currently reinforce the same downside read.","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 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adverse"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-0.6,"sample":19},{"week":2,"averageReturn":-0.5,"sample":19},{"week":3,"averageReturn":-1.3,"sample":19},{"week":4,"averageReturn":-1.4,"sample":19},{"week":5,"averageReturn":-1.0,"sample":19},{"week":6,"averageReturn":-0.7,"sample":19},{"week":7,"averageReturn":-0.5,"sample":19},{"week":8,"averageReturn":-0.4,"sample":19},{"week":9,"averageReturn":0.6,"sample":19},{"week":10,"averageReturn":-0.7,"sample":19},{"week":11,"averageReturn":-0.8,"sample":18},{"week":12,"averageReturn":-2.3,"sample":18},{"week":13,"averageReturn":-3.6,"sample":18},{"week":14,"averageReturn":-4.5,"sample":17},{"week":15,"averageReturn":-3.2,"sample":17},{"week":16,"averageReturn":-5.7,"sample":17},{"week":17,"averageReturn":-8.3,"sample":17},{"week":18,"averageReturn":-8.8,"sample":17},{"week":19,"averageReturn":-9.5,"sample":17},{"week":20,"averageReturn":-9.4,"sample":17},{"week":21,"averageReturn":-11.1,"sample":17},{"week":22,"averageReturn":-10.5,"sample":17},{"week":23,"averageReturn":-9.6,"sample":17},{"week":24,"averageReturn":-8.6,"sample":17},{"week":25,"averageReturn":-9.2,"sample":17},{"week":26,"averageReturn":-9.7,"sample":17}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":0,"completedEpisodes":0,"activeEpisodes":0,"horizons":[{"weeks":4,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"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,"sample":0},{"week":2,"sample":0},{"week":3,"sample":0},{"week":4,"sample":0},{"week":5,"sample":0},{"week":6,"sample":0},{"week":7,"sample":0},{"week":8,"sample":0},{"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":"Evidence aligned downward","tone":"negative","headline":"Price and Market Dynamics remain aligned downward","use":"The downside remains supported until Market Dynamics repairs or price structure changes.","confirm":"The downside state remains confirmed until Market Dynamics repairs or price structure changes.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"weakening","zone":"middle","zoneContext":"Price is between the accumulation and distribution zones. The Market Dynamics bars describe whether the current move is gaining or losing underlying support.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":50.0,"averageReturn":-0.6,"sample":20},"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 structure is downward","detail":"Price is responding in the same broad direction as Market Dynamics."}},"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":"Capital protection","title":"Treat agreement on the downside as a defensive condition","tone":"negative","approach":"Reduce the burden of proof for risk control and raise it for new long exposure. A short position still needs a defined entry, exit and maximum loss.","finding":"In this ticker's completed record, 50.0% of comparable cases moved lower after 12 weeks, with an average move of -0.6% across 20 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 2 cases. Distinct visits lasted 2.0 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 12.6% across 19 completed cases, with the largest move arriving after 6.8 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":[],"distribution_rollovers":[],"price_pressure_gaps":[]}},"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":[166.0,163.0,148.6,146.4,142.4,154.4,150.0,151.6,150.6,151.2,155.4,156.8,171.6,171.2,166.8,166.0,162.8,154.6,153.0,151.2,140.0,142.0,140.0,149.8,144.4,146.0,142.0,144.2,136.2,130.0,129.2,146.4,129.2,118.0,123.4,125.6,130.2,125.2,130.8,135.0,136.2,139.0,141.0,129.2,126.4,128.6,130.2,137.2,142.6,138.0,133.2,133.8,138.6,123.6,117.0,113.8,120.2,125.0,141.2,130.6,132.4,133.6,132.0,124.0,123.6,121.0,126.0,122.0,122.0,126.0,126.2,124.6,129.2,136.0,134.6,132.4,126.6,128.8,127.0,122.8,123.6,121.2,115.6,110.0,113.0,121.4,132.4,122.6,138.8,127.2,131.8,137.6,138.8,126.2,131.2,131.4,131.2,120.2,120.0,125.0,123.0,119.0,117.4,118.8],"consensus":[-39.8461,-37.9266,-70.288,-42.2467,-57.189,0.0,-25.9167,0.0,-17.7391,-21.3995,0.0,0.0,57.4174,29.5992,0.0,8.2774,-17.487,-44.5927,-28.451,-24.2773,-58.0723,-19.2571,-26.0362,19.5745,-23.7565,0.0,-28.6609,0.0,-43.8237,-45.0017,-39.4018,43.0847,-54.0155,-48.6772,-9.1715,-19.0684,12.1465,-20.118,17.8515,23.5183,11.1917,24.6633,21.9583,-34.4289,-25.7047,-10.7406,0.0,33.4179,42.0981,0.0,-16.0719,0.0,21.9642,-58.2627,-57.5609,-52.4552,0.0,14.2631,62.3849,-17.7094,22.8395,17.7569,-10.9107,-41.6882,-23.5171,-32.5135,0.0,-22.68,-16.3734,21.7726,0.0,-9.5546,33.6555,50.9662,19.9336,0.0,-29.207,0.0,-17.5515,-39.1245,-14.272,-30.973,-52.0202,-59.8641,-16.4841,31.2569,59.0383,-23.4491,65.5877,-19.0539,26.2413,50.1716,20.777,-27.6119,12.0993,0.0,0.0,-36.7444,-33.2425,0.0,-24.213,-35.1719,-26.9833,-17.766],"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":[30.1017,-54.6759,-52.8853,-52.757,0.0,12.6501,56.826,-31.5271,17.2622,12.9868,-7.4095,-43.2167,-23.6644,-30.5644,0.0,-26.4412,-19.3061,23.1353,0.0,-17.3578,33.149,47.0392,15.2097,0.0,-32.4404,0.0,-14.0771,-41.5929,-14.5297,-30.4494,-51.0825,-63.2175,-14.9246,32.006,54.6029,-34.0148,57.6254,-25.7756,29.0944,48.3068,23.2084,-39.1868,14.6409,0.0,0.0,-36.7322,-35.1933,0.0,-20.4292,-39.6178,-25.4365,-15.3813],"force":[29.6797,-90.2954,-77.9624,-51.7713,0.0,43.9313,92.3829,-52.4339,28.3912,14.9647,-22.7827,-61.6063,-15.8993,-29.8612,0.0,-21.4711,-11.0027,36.7556,0.0,-12.7771,46.0476,66.0659,1.5481,0.0,-49.6374,0.0,-21.7174,-42.1428,-4.4939,-26.5349,-58.5636,-60.6066,-24.946,76.7937,82.8215,-63.2389,94.0785,-60.9054,32.5203,57.6089,4.7527,-37.3214,14.6916,0.0,0.0,-40.511,-21.0075,0.0,-25.6953,-41.307,-24.8191,-3.4449],"direction":[7.1533,-39.4815,-48.332,-52.5989,0.0,5.0849,47.3108,-22.8854,25.248,25.2028,-6.4322,-25.7143,-28.7899,-36.6355,0.0,-19.2449,-16.8579,9.5131,0.0,-1.665,25.3828,44.6687,38.465,0.0,-10.9185,0.0,-18.5466,-34.1476,-20.9619,-34.7414,-48.4181,-55.5012,-47.8593,2.1256,47.1194,-17.0472,54.3368,-18.5222,18.4955,46.9905,29.4443,-7.448,7.343,0.0,0.0,-34.0681,-39.7522,0.0,-27.4784,-25.7086,-30.297,-30.7207],"intensity":[42.3077,88.4615,80.7692,65.3846,69.2308,86.5385,90.3846,75.0,63.4615,11.5385,1.9231,63.4615,44.2308,23.0769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downward confirmation","headline":"The gauges support the downward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same downward assessment.","take":"Current assessment: downward pressure has broad support.","tone":"negative","supportedView":"Price structure and Market Dynamics","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is strengthening","forceState":"Commitment is limited","forcePath":"Broadly stable","directionState":"Downward follow-through","persistenceState":"Established","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-17.8","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-15.4","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-3.4","detail":"Commitment is limited","tone":"negative"},{"label":"SM Direction Gauge","value":"-30.7","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"59/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"44.5","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"7.9%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"12.7","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"31%","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 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