{"schema_version":"1.0","name":"CMA Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"5004ca4a-6348-4b99-b84b-a156b9043a3a","symbol":"CMA","name":"CARMA LTD FPO [CMA]","exchange":"ASX","country":"AU","asset_type":"equity","currency":"AUD","sector":"Consumer Cyclical","industry":"Auto & Truck Dealerships"},"summary":"Market Dynamics eased this week but remains positive. The broader path has not changed enough to establish a new direction. Price structure remains downward.","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, Drawdown and recovery pressure, Directional strength and control, Range position and boundary pressure, Range pressure and compression, 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":"2026-08-21","observations":42,"displayedObservations":42,"assetType":"Equity","state":"Aligned downward","stateTone":"negative","summary":"Market Dynamics eased this week but remains positive. The broader path has not changed enough to establish a new direction. Price structure remains downward.","evidenceAlignment":{"status":"Countertrend conflict","headline":"Improving Market Dynamics is challenging the downward price structure","summary":"Market Dynamics eased this week but remains positive. The broader path has not changed enough to establish a new direction. Price structure remains downward.","take":"This is an early challenge rather than a confirmed reversal. Price must respond to the improvement before the downward technical state can be considered resolved.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[-0.232385,-0.318807,-0.248107,-0.114023,0.014117,0.186573,0.363877,0.465919,0.567114,0.672887,0.717119,0.731268,0.718889,0.639854],"opens":[0.73,0.705,0.72,0.725,0.71,0.775,0.9,0.915,0.915,0.915,1.0,0.915,0.885,0.87],"highs":[0.73,0.72,0.825,0.77,0.745,0.785,0.98,0.94,0.92,1.0,1.07,0.95,0.885,0.87],"lows":[0.545,0.69,0.665,0.7,0.7,0.76,0.9,0.905,0.9,0.89,0.93,0.85,0.8,0.68],"closes":[0.655,0.72,0.705,0.77,0.745,0.76,0.9,0.94,0.9,1.0,0.965,0.85,0.82,0.695],"hoverRows":[[{"label":"Open","value":"0.73","className":"is-ohlc","compact":true},{"label":"High","value":"0.73","className":"is-ohlc","compact":true},{"label":"Low","value":"0.55","className":"is-ohlc","compact":true},{"label":"Close","value":"0.66","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"0.72","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"0.87","className":"is-ohlc","compact":true},{"label":"High","value":"0.87","className":"is-ohlc","compact":true},{"label":"Low","value":"0.68","className":"is-ohlc","compact":true},{"label":"Close","value":"0.69","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.64","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[0.6343,1.0207],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":0.639854,"state":"Positive and broadly steady","context":{"scenario":"positiveSteady","latestDirection":"easing","fourWeekDirection":"steady","now":{"label":"Easier this week","detail":"Market Dynamics eased this week but 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 eased this week but 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":14,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-11-07","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":[2.4,2.2,1.7,1.56,1.735,1.835,1.825,1.88,1.925,2.2,2.04,2.07,1.98,1.6,1.405,1.295,1.2,0.96,0.95,0.9,0.915,0.95,0.92,0.84,0.81,0.81,0.72,0.72,0.655,0.72,0.705,0.77,0.745,0.76,0.9,0.94,0.9,1.0,0.965,0.85,0.82,0.695],"consensus":[-64.2857,-100.0,-63.9344,-56.0984,-49.2841,-12.0145,-12.3104,10.1725,8.8855,49.0793,-10.5783,12.1009,-8.3072,-69.2078,-70.7028,-57.8767,-47.838,-64.6967,-43.4543,-50.4364,-35.2141,-14.5261,-24.4255,-41.5073,-30.0369,-20.9025,-48.9938,-27.8367,-36.9585,0.0,-25.4966,9.3715,0.0,-16.5414,20.2438,37.8214,0.0,51.3805,0.0,-38.8464,-22.9389,-58.9313],"supportDates":["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,-7.1406,-17.4929,7.2198,6.26,42.7651,-25.7891,5.2424,-12.0193,-65.6323,-61.9098,-55.8484,-40.2794,-69.8215,-41.7309,-53.2248,-32.1095,-11.8915,-25.1306,-49.1499,-26.538,-15.6499,-54.3996,-28.4643,-35.1775,0.0,-31.541,13.5061,0.0,-32.5569,7.7913,41.2783,0.0,52.785,0.0,-39.6996,-28.9436,-56.654],"force":[-64.2857,-100.0,-63.9344,-56.0984,-6.0326,-13.6169,-2.9859,26.7195,20.4675,63.1053,-26.1191,10.9715,-10.2845,-78.0239,-83.133,-39.4789,-41.2579,-56.0509,-17.7238,-28.0222,-6.9685,-16.4348,-2.3857,-28.0233,-15.3929,-2.7761,-39.9641,-5.6195,-27.3437,0.0,-15.6098,27.5635,0.0,-7.5338,21.5524,29.01,0.0,48.3597,0.0,-79.1997,-26.0161,-88.5834],"direction":[null,null,null,null,-88.7961,-52.2143,-17.3136,1.7277,3.6133,46.2769,-17.9061,20.746,-2.6524,-66.9968,-71.8733,-73.3361,-61.1766,-65.0153,-63.8027,-63.2598,-58.9375,-39.6522,-39.3625,-42.4044,-44.4956,-43.8186,-49.2655,-42.989,-45.8617,0.0,-25.6507,8.348,0.0,-4.6721,33.5404,40.1645,0.0,51.933,0.0,-9.0475,-13.8784,-40.3537],"intensity":[null,null,null,null,25.0,20.0,16.6667,14.2857,12.5,77.7778,50.0,27.2727,33.3333,92.3077,71.4286,66.6667,68.75,70.5882,50.0,5.2632,5.0,14.2857,4.5455,26.087,33.3333,4.0,34.6154,25.9259,50.0,51.7241,40.0,19.3548,3.125,21.2121,73.5294,14.2857,13.8889,43.2432,28.9474,56.4103,25.0,58.5366],"confirmation":[43.2381,54.6667,43.1257,40.6181,37.8393,7.7837,49.3645,26.4711,25.903,84.2291,30.1135,49.2757,47.9953,90.4697,91.1377,85.9908,83.2228,88.3614,81.1475,83.4141,55.7883,29.9177,52.4671,80.7549,77.2188,51.9728,83.3204,53.5544,79.5608,6.0878,75.7655,27.9379,25.0136,27.4414,52.041,79.7816,29.5998,84.3283,5.7641,81.6477,75.3427,44.64],"persistence":[null,null,100.0,100.0,100.0,100.0,100.0,75.0,50.0,25.0,25.0,0.0,0.0,0.0,0.0,25.0,50.0,75.0,75.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,87.5,87.5,62.5,50.0,50.0,25.0,0.0,12.5,25.0,37.5,12.5,0.0,0.0],"assessmentRisk":[null,null,null,null,24.9709,39.4721,31.6846,40.2533,32.3075,22.0812,43.7979,30.7542,17.9715,15.0875,14.4297,21.0529,26.0736,17.615,27.9809,24.1695,30.0357,3.9889,0.4464,3.2685,21.9323,31.6946,24.9432,32.9991,30.5004,39.3187,4.0234,34.0018,46.3267,42.5806,39.699,30.6678,49.2256,24.2597,34.8725,24.0159,29.6899,20.5049],"volumeParticipation":true,"latest":{"consensus":-58.9,"control":-56.7,"force":-88.6,"direction":-40.4,"confirmation":44.6,"persistence":0.0,"assessmentRisk":20.5,"intensity":58.5,"evidenceDepth":100},"analysis":{"status":"Price structure has stronger support","headline":"The gauges support the price-technical view","summary":"Price structure and Market Dynamics disagree. The completed evidence gives the downward price structure stronger support.","take":"Current assessment: price structure remains primary, but the disagreement lowers confirmation.","tone":"negative","supportedView":"Price structure","direction":"downward","disagreement":true},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Broadly stable","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":"-58.9","detail":"Price structure has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-56.7","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-88.6","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-40.4","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"45/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"28.7","detail":"Stretched negative","tone":"negative"},{"label":"Risk pressure","value":"21.3%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"32.4","detail":"Directional","tone":"positive"},{"label":"Range position","value":"18%","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 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}