{"schema_version":"1.0","name":"BKW Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"5230182e-f6ec-4a1a-89a8-cdf9dd275597","symbol":"BKW","name":"BKW AG","exchange":"VIE","country":"AT","asset_type":"equity","currency":"EUR","sector":"Utilities","industry":"Utilities - Renewable"},"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 evidence","description":"Six condition-selected views: Trend, acceptance and volatility envelope, Drawdown and recovery pressure, Range position and boundary pressure, Range pressure and compression, Directional strength and control, Directional pressure and rotation."},{"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":43,"displayedObservations":43,"assetType":"Equity","state":"Aligned downward","stateTone":"negative","summary":"Price structure and the underlying tape currently reinforce the same downside read.","evidenceAlignment":{"status":"Evidence aligned downward","headline":"Downward price structure is confirmed by Market Dynamics","summary":"Price structure and the underlying tape currently reinforce the same downside read.","take":"The downside state remains confirmed until Market Dynamics repairs or price structure 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Dynamics","value":"-0.93","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[138.546006,167.554],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.927937,"state":"Negative and broadly steady","context":{"scenario":"negativeSteady","latestDirection":"easing","fourWeekDirection":"steady","now":{"label":"Easier this week","detail":"Market Dynamics weakened this week and remains below zero."},"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":"Accumulation pressure","detail":"Price is within accumulation conditions, but the completed tape has not yet confirmed a recovery. The zone is a watch area rather than a directional signal.","tone":"negative"},"chartSummary":"Price is in the accumulation zone. The Market Dynamics bars show whether underlying conditions are repairing or continuing to weaken.","summary":"Price is within accumulation conditions, but the completed tape has not yet confirmed a recovery. The zone is a watch area rather than a directional signal.","annotations":[{"label":"Current tape relationship","value":"Accumulation pressure","detail":"Market Dynamics weakened this week and remains below zero.","tone":"negative"},{"label":"Price location","value":"Accumulation zone","detail":"Price is being tested for a confirmed recovery through the lower zone.","tone":"caution"},{"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":15,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-10-24","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":[193.5923,189.9746,175.4063,175.113,172.7664,175.113,174.1353,173.7442,177.8507,176.7752,178.6329,182.6416,186.5526,165.5312,157.3182,156.3404,158.5892,158.0026,160.9358,157.6115,163.3801,162.4024,159.7625,168.3666,167.8777,166.3134,169.5399,169.4,166.0,163.5,161.8,162.2,159.7,151.1,146.0,149.5,145.4,143.2,148.0,146.6,143.6,141.2,140.1],"consensus":[100.0,-20.9304,-93.6306,-51.8518,-87.7687,-22.4064,-49.8865,-37.0125,27.0018,-17.3807,22.2169,48.5594,66.1688,-76.6228,-81.5981,-38.2023,-35.5696,-48.8691,9.3968,-46.8006,26.5166,0.0,-30.1716,45.9007,0.0,0.0,34.3749,19.978,-31.0896,-34.22,-34.1668,-23.1778,-51.1137,-65.392,-72.2401,-42.537,-47.3866,-52.1795,11.7736,-48.1211,-57.9809,-56.6957,-46.4612],"supportDates":["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":[null,null,null,null,null,-4.4956,-51.748,-34.4032,22.3436,-24.5519,15.5855,38.2472,56.7102,-61.121,-78.4891,-20.8685,-28.1677,-47.569,8.7408,-56.9662,23.9046,0.0,-35.3574,50.005,0.0,0.0,32.2405,18.3661,-34.5364,-38.1309,-38.1263,-16.7937,-56.4375,-68.824,-77.8469,-42.3629,-40.1119,-50.64,12.4963,-52.5951,-68.2761,-65.9511,-43.4175],"force":[100.0,-20.9304,-93.6306,-51.8518,-70.7802,-28.5414,-31.1454,-8.9109,86.2665,-5.1714,59.7129,64.369,79.3031,-98.4528,-84.8215,-5.3037,-2.5782,-31.0028,61.0666,-46.2732,75.1276,0.0,-23.4101,52.2955,0.0,0.0,25.485,14.016,-63.9974,-48.3729,-26.9265,-22.3366,-58.4757,-70.0674,-74.5961,-18.8831,-36.5276,-38.518,65.1361,-44.8697,-58.7248,-53.4362,-33.4747],"direction":[null,null,null,null,-99.9033,-79.267,-61.1455,-60.067,10.0065,-25.2936,3.0128,49.0522,67.5971,-78.7462,-82.8489,-81.5113,-67.5943,-63.1167,26.7604,-35.5594,5.2204,0.0,-29.0748,36.6424,0.0,0.0,43.1641,26.0787,-3.6448,-19.6412,-34.8135,-31.0748,-39.7709,-58.13,-64.1495,-59.6318,-63.457,-63.6973,27.1685,-45.3304,-45.6837,-48.4464,-59.2158],"intensity":[null,null,null,null,25.0,20.0,16.6667,28.5714,75.0,33.3333,40.0,81.8182,66.6667,100.0,100.0,73.3333,62.5,23.5294,44.4444,63.1579,75.0,47.619,59.0909,78.2609,75.0,36.0,38.4615,22.2222,42.8571,65.5172,20.0,6.4516,53.125,84.8485,70.5882,42.8571,75.0,29.7297,68.4211,25.641,45.0,31.7073,33.3333],"confirmation":[54.6667,29.3644,52.6285,39.2592,72.6427,11.9791,83.3642,79.0273,35.3191,51.2018,53.6865,84.178,89.7184,93.4208,94.257,56.8196,55.823,83.1134,32.9672,82.8052,56.4536,25.5526,77.3698,82.8206,28.1668,28.6603,78.7616,74.2358,56.2324,79.3221,78.6524,75.4885,84.4996,89.0156,91.1032,80.8936,82.9436,84.3046,33.8454,83.2315,86.4197,85.9023,90.5182],"persistence":[null,null,33.3333,50.0,60.0,66.6667,71.4286,75.0,75.0,75.0,50.0,25.0,0.0,0.0,0.0,0.0,25.0,25.0,25.0,50.0,50.0,37.5,37.5,12.5,0.0,12.5,12.5,37.5,12.5,0.0,0.0,25.0,37.5,50.0,75.0,100.0,100.0,100.0,75.0,75.0,75.0,75.0,75.0],"assessmentRisk":[null,null,null,null,6.0618,38.2062,13.3652,5.3714,23.7592,24.7545,25.2947,23.1402,14.1596,7.4939,8.8962,30.8687,32.1954,16.432,20.3209,32.9034,16.8827,32.724,6.4583,22.2511,26.7394,28.2071,31.9527,5.098,9.0657,15.849,31.5927,36.7854,21.9038,17.1657,13.8479,28.5284,26.2954,23.2764,19.3363,10.9261,4.2938,1.3031,25.937],"volumeParticipation":false,"latest":{"consensus":-46.5,"control":-43.4,"force":-33.5,"direction":-59.2,"confirmation":90.5,"persistence":75.0,"assessmentRisk":25.9,"intensity":33.3,"evidenceDepth":100},"analysis":{"status":"Joint 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":"Downward commitment","forcePath":"Commitment is easing","directionState":"Downward follow-through","persistenceState":"Established","confirmationState":"Strong support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-46.5","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-43.4","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-33.5","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-59.2","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"91/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"28.0","detail":"Stretched negative","tone":"negative"},{"label":"Risk pressure","value":"3.3%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"28.3","detail":"Directional","tone":"positive"},{"label":"Range position","value":"3%","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 downward.","series":[{"label":"Close","values":[193.5923,189.9746,175.4063,175.113,172.7664,175.113,174.1353,173.7442,177.8507,176.7752,178.6329,182.6416,186.5526,165.5312,157.3182,156.3404,158.5892,158.0026,160.9358,157.6115,163.3801,162.4024,159.7625,168.3666,167.8777,166.3134,169.5399,169.4,166.0,163.5,161.8,162.2,159.7,151.1,146.0,149.5,145.4,143.2,148.0,146.6,143.6,141.2,140.1],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,184.4831,182.7794,181.2077,179.8507,179.4871,178.994,178.9283,179.6035,180.8669,178.0786,174.304,171.0379,168.7745,166.816,165.7468,164.2677,164.1063,163.7965,163.0631,164.0273,164.7274,165.0158,165.8383,166.4859,166.3976,165.8707,165.1306,164.5978,163.7073,161.415,158.6123,156.9555,154.8545,152.7355,151.8745,150.9155,149.5854,148.0608,146.6134],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,184.5591,183.1496,181.2362,179.392,177.8511,176.3808,175.2368,173.9312,173.1496,172.3535,171.4209,171.1946,170.9489,170.6056,170.5266,170.4432,170.114,169.6241,169.0445,168.5375,167.8829,166.6397,165.1109,163.9545,162.5801,161.1445,160.1709,159.1656,158.0126,156.7672,155.5326],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,192.1565,191.5358,191.5387,192.312,192.7592,194.4107,195.3138,195.3594,195.2596,194.7837,194.5133,191.0328,187.928,187.3923,186.8196,186.4626,185.7473,185.2972,184.8713,183.591,182.3113,180.4726,177.2025,170.9723,171.5648,173.1423,173.7389,174.7943,175.8896,176.009,176.3039,176.292,176.3676,176.5416],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}