{"schema_version":"1.0","name":"CADLR Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"5afc7c2e-8ace-436d-8766-39b7c7d3dcf9","symbol":"CADLR","name":"Cadeler A/S","exchange":"OSL","country":"NO","asset_type":"equity","currency":"NOK","sector":"Industrials","industry":"Engineering & Construction"},"summary":"Market Dynamics weakened this week and remains below zero. The broader path has not changed enough to establish a new direction. The downward price structure agrees with that pressure, but price has not declined to the same extent.","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, Drawdown and recovery pressure, Activity pressure and cumulative balance, Acceleration, deceleration and rollover, Range position and boundary pressure."},{"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":260,"displayedObservations":104,"assetType":"Equity","state":"Aligned downward","stateTone":"negative","summary":"Market Dynamics weakened this week and remains below zero. The broader path has not changed enough to establish a new direction. The downward price structure agrees with that pressure, but price has not declined to the same extent.","evidenceAlignment":{"status":"Downside evidence leads price","headline":"Market Dynamics remains weaker than price","summary":"Market Dynamics weakened this week and remains below zero. The broader path has not changed enough to establish a new direction. The downward price structure agrees with that pressure, but price has not declined to the same extent.","take":"The downside remains supported. 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cautious, Market Dynamics positive","kind":"disagreement","expectedDirection":"higher","episodes":18,"completedEpisodes":17,"activeEpisodes":1,"medianExpectedMove":10.4,"averageExpectedMove":11.6,"averageWeeksToLargestMove":7.1,"horizons":[{"weeks":4,"sample":18,"expectedCount":10,"expectedPercent":55.6,"averageReturn":1.4,"medianReturn":2.6,"confidenceLow":33.7,"confidenceHigh":75.4,"confidence":"Mixed historical record"},{"weeks":12,"sample":17,"expectedCount":10,"expectedPercent":58.8,"averageReturn":0.6,"medianReturn":2.4,"confidenceLow":36.0,"confidenceHigh":78.4,"confidence":"Mixed historical record"},{"weeks":26,"sample":16,"expectedCount":9,"expectedPercent":56.2,"averageReturn":8.8,"medianReturn":8.3,"confidenceLow":33.2,"confidenceHigh":76.9,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-0.5,"sample":18},{"week":2,"averageReturn":-0.3,"sample":18},{"week":3,"averageReturn":-0.5,"sample":18},{"week":4,"averageReturn":1.4,"sample":18},{"week":5,"averageReturn":2.0,"sample":18},{"week":6,"averageReturn":1.3,"sample":18},{"week":7,"averageReturn":0.4,"sample":18},{"week":8,"averageReturn":1.6,"sample":18},{"week":9,"averageReturn":0.8,"sample":18},{"week":10,"averageReturn":2.2,"sample":18},{"week":11,"averageReturn":0.8,"sample":18},{"week":12,"averageReturn":0.6,"sample":17},{"week":13,"averageReturn":3.1,"sample":17},{"week":14,"averageReturn":2.0,"sample":17},{"week":15,"averageReturn":4.2,"sample":17},{"week":16,"averageReturn":3.7,"sample":17},{"week":17,"averageReturn":5.3,"sample":17},{"week":18,"averageReturn":4.8,"sample":17},{"week":19,"averageReturn":5.0,"sample":17},{"week":20,"averageReturn":5.3,"sample":17},{"week":21,"averageReturn":6.9,"sample":17},{"week":22,"averageReturn":6.4,"sample":17},{"week":23,"averageReturn":5.5,"sample":17},{"week":24,"averageReturn":6.2,"sample":16},{"week":25,"averageReturn":7.9,"sample":16},{"week":26,"averageReturn":8.8,"sample":16}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":1,"completedEpisodes":1,"activeEpisodes":0,"medianExpectedMove":12.4,"averageExpectedMove":12.4,"averageWeeksToLargestMove":12.0,"horizons":[{"weeks":4,"sample":1,"expectedCount":0,"expectedPercent":0.0,"averageReturn":3.6,"medianReturn":3.6,"confidenceLow":0.0,"confidenceHigh":79.3,"confidence":"Mixed historical record"},{"weeks":12,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-12.4,"medianReturn":-12.4,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-25.5,"medianReturn":-25.5,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":3.9,"sample":1},{"week":2,"averageReturn":5.1,"sample":1},{"week":3,"averageReturn":2.2,"sample":1},{"week":4,"averageReturn":3.6,"sample":1},{"week":5,"averageReturn":1.9,"sample":1},{"week":6,"averageReturn":-4.7,"sample":1},{"week":7,"averageReturn":-7.9,"sample":1},{"week":8,"averageReturn":-8.4,"sample":1},{"week":9,"averageReturn":-6.6,"sample":1},{"week":10,"averageReturn":-7.2,"sample":1},{"week":11,"averageReturn":-10.7,"sample":1},{"week":12,"averageReturn":-12.4,"sample":1},{"week":13,"averageReturn":-11.6,"sample":1},{"week":14,"averageReturn":-9.4,"sample":1},{"week":15,"averageReturn":-14.3,"sample":1},{"week":16,"averageReturn":-20.9,"sample":1},{"week":17,"averageReturn":-21.8,"sample":1},{"week":18,"averageReturn":-17.1,"sample":1},{"week":19,"averageReturn":-16.5,"sample":1},{"week":20,"averageReturn":-26.2,"sample":1},{"week":21,"averageReturn":-28.4,"sample":1},{"week":22,"averageReturn":-29.1,"sample":1},{"week":23,"averageReturn":-29.1,"sample":1},{"week":24,"averageReturn":-29.6,"sample":1},{"week":25,"averageReturn":-24.2,"sample":1},{"week":26,"averageReturn":-25.5,"sample":1}]},"currentApplication":{"status":"Downside evidence leads price","tone":"negative","headline":"Price is leading its underlying support","use":"Market Dynamics must catch up or price may correct toward the weaker underlying position.","confirm":"The downside remains supported. Further price weakness would confirm that price is catching up with the weaker underlying position.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"weakening","zone":"middle","zoneContext":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":50.0,"averageReturn":5.5,"sample":20},"nowContext":{"label":"Slightly easier this week","detail":"Market Dynamics weakened this week and remains below zero."},"fourWeekContext":{"label":"Broadly steady over four weeks","detail":"The broader path has not changed enough to establish a new direction."},"priceContext":{"label":"Price is ahead of the underlying support","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets."}},"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":"Divergence control","title":"Do not chase price while the underlying evidence lags","tone":"caution","approach":"Use the gap to review position size, protect gains and wait for either Market Dynamics to catch up or price to correct. The disagreement is a warning condition, not an automatic exit.","finding":"In this ticker's completed record, 50.0% of comparable cases moved lower after 12 weeks, with an average move of 5.5% 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, 0.0% of completed 12-week outcomes were higher across 2 cases. Distinct visits lasted 7.5 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 8.2% across 20 completed cases, with the largest move arriving after 6.4 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":[{"date":"2024-11-08","price":69.199997}],"price_pressure_gaps":[{"date":"2024-09-27","price":72.599998}]}},"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":[71.1,70.3,66.7,70.5,70.7,72.6,75.4,76.3,74.2,75.2,74.0,69.2,66.9,66.5,67.8,67.4,64.8,63.6,64.2,65.8,62.2,57.4,56.8,60.2,60.6,53.6,52.0,51.5,51.5,51.1,55.0,54.1,48.45,52.75,54.0,53.2,56.5,50.8,50.95,50.0,51.05,53.55,53.75,52.7,50.85,50.7,51.45,53.2,55.8,52.65,54.25,50.9,56.3,52.7,52.1,52.35,52.05,50.95,53.5,54.1,48.74,48.36,47.0,43.42,46.34,40.1,44.58,47.04,46.32,46.68,47.64,48.1,50.9,55.3,53.0,57.45,58.55,61.7,63.1,61.5,58.3,60.6,56.35,54.0,56.7,61.9,59.0,61.4,64.0,67.45,68.0,61.9,59.35,57.2,53.45,52.75,53.25,57.55,55.0,56.85,54.65,53.55,56.15,54.3],"consensus":[32.791,21.9816,-29.8945,39.8389,14.9552,37.4762,61.2647,45.5984,0.0,34.2075,0.0,-49.9998,-47.2496,-28.4551,-11.8183,-25.5393,-49.0712,-37.701,-27.609,0.0,-56.3591,-76.6479,-47.7019,0.0,-14.0792,-74.2915,-58.5796,-38.8867,-40.1844,-32.7781,29.0459,-19.8473,-71.1878,24.7676,0.0,-9.0089,42.8939,-49.1247,-20.9998,-26.1904,0.0,28.504,0.0,0.0,-26.2605,-15.1977,0.0,17.604,41.3891,-19.2967,25.0171,-35.2243,49.811,-29.7147,-14.2234,0.0,-15.085,-27.3827,28.133,18.5829,-53.1909,-22.8218,-47.2091,-69.6436,0.0,-74.5315,12.4404,25.8801,-10.0392,8.88,15.8079,12.1325,45.7154,68.4037,12.0169,62.9364,56.5902,63.3475,56.2036,17.9036,-8.1385,35.2019,-41.8825,-38.796,18.883,53.4518,-9.998,47.2606,51.9261,61.0138,40.7153,-28.417,-40.0149,-35.5258,-49.747,-33.1476,-25.108,22.7874,-9.2415,20.6711,-29.9614,-29.4635,21.123,-34.5539],"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":[54.7666,-29.2852,-13.6093,0.0,-10.3022,-32.0777,27.0518,17.4062,-54.3729,-19.8595,-46.9186,-72.7159,0.0,-73.6913,17.9246,16.2789,-10.32,0.4063,12.2527,13.1343,45.2814,65.6591,0.949,53.7239,61.4428,67.0967,57.952,6.2085,-14.3521,42.4882,-35.987,-26.216,26.065,60.2748,-17.9579,47.2308,51.3195,65.5508,38.9866,-30.9119,-33.2675,-35.1198,-53.1907,-25.439,-15.1169,35.0757,-8.1226,16.8394,-39.5572,-23.8021,25.5963,-29.1149],"force":[73.4232,-71.5804,-15.6222,0.0,-15.81,-29.7836,48.4366,17.9021,-73.5847,-8.596,-45.4648,-79.5983,0.0,-94.6142,71.5438,68.0276,-9.9577,16.9794,22.1437,10.4337,52.7542,86.7439,20.2261,80.8097,41.5858,54.5783,36.7013,20.4175,-44.2454,33.6865,-88.2417,-68.0993,37.8045,68.5835,-43.5692,54.3302,55.5654,61.702,19.3775,-77.1832,-71.2944,-27.097,-36.3081,-12.0423,-1.2881,43.7094,-0.5481,46.851,-33.9086,-21.1037,44.6213,-50.5887],"direction":[27.2814,-0.3015,-13.9262,0.0,-20.0333,-20.3022,14.8661,20.4141,-37.273,-36.3686,-48.7871,-59.0219,0.0,-61.1469,36.0441,6.7475,-9.7765,12.779,15.3455,12.2012,41.1838,58.4401,47.6967,60.6983,61.7618,65.3263,68.1358,58.6416,-24.7535,27.957,-15.5064,-32.2423,2.8405,34.8458,-23.0785,42.2449,50.02,55.337,57.9321,-9.2672,-25.3838,-42.0102,-55.4107,-57.0325,-53.5407,6.2007,-16.7296,6.3503,-16.1753,-41.905,0.7737,-29.3166],"intensity":[86.5385,67.3077,78.8462,1.9231,3.8462,11.5385,44.2308,61.5385,84.6154,76.9231,17.3077,65.3846,48.0769,94.2308,80.7692,82.6923,42.3077,9.6154,15.3846,30.7692,46.1538,76.9231,34.6154,94.2308,51.9231,69.2308,28.8462,25.0,61.5385,32.6923,75.0,63.4615,42.3077,86.5385,48.0769,34.6154,57.6923,67.3077,28.8462,100.0,86.5385,98.0769,73.0769,13.4615,3.8462,76.9231,34.6154,40.3846,26.9231,44.2308,36.5385,19.2308],"confirmation":[84.5836,56.1245,72.6035,1.6871,72.9222,76.7641,77.6378,73.9437,85.6246,74.9146,83.0582,90.5425,31.883,92.4749,36.0547,55.0458,71.2058,48.5509,73.3058,71.8154,82.8501,90.4899,7.3463,88.8247,85.5776,87.9468,85.3642,9.0952,31.5574,79.1074,82.9051,81.4995,52.4491,85.4618,31.6913,83.3393,84.7365,87.4762,80.4049,35.1853,81.8609,79.1176,83.457,78.0815,52.7942,54.3985,48.0427,52.8043,77.5617,77.2598,52.9057,87.6288],"persistence":[12.5,12.5,0.0,12.5,37.5,37.5,37.5,12.5,37.5,37.5,37.5,50.0,37.5,37.5,37.5,37.5,37.5,12.5,12.5,37.5,50.0,75.0,75.0,75.0,100.0,100.0,100.0,100.0,75.0,75.0,50.0,25.0,25.0,25.0,0.0,0.0,25.0,25.0,50.0,50.0,25.0,0.0,0.0,25.0,50.0,50.0,75.0,50.0,50.0,50.0,25.0,25.0],"assessmentRisk":[14.4492,15.8245,27.7359,26.1573,39.3008,16.9877,11.0086,20.5984,14.2329,25.3139,25.6315,15.1389,31.328,12.5313,39.8402,28.3541,4.6945,44.1776,29.9203,10.8985,22.1342,15.5023,41.1047,18.2494,21.1723,17.0628,21.8938,39.2199,1.2887,39.8043,28.377,30.1049,34.5954,6.8577,39.9825,25.645,23.4282,17.1685,29.4485,21.6076,23.9182,32.0236,25.1077,33.0865,35.3617,6.1138,28.3255,33.6332,37.184,29.8739,9.5272,19.7487],"volumeParticipation":true,"latest":{"consensus":-34.6,"control":-29.1,"force":-50.6,"direction":-29.3,"confirmation":87.6,"persistence":25.0,"assessmentRisk":19.7,"intensity":19.2,"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":"Broadly stable","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-34.6","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-29.1","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-50.6","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-29.3","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"88/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"46.6","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"7.5%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"14.9","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"17%","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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