{"schema_version":"1.0","name":"TRA Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"5c6fa34b-661a-4df6-b4bb-5c8d8670d1f5","symbol":"TRA","name":"Turners Automotive Group Limited","exchange":"NZE","country":"NZ","asset_type":"equity","currency":"NZD","sector":"Consumer Cyclical","industry":"Auto & Truck Dealerships"},"summary":"Market Dynamics weakened this week and remains below zero. The broader path remains constructive, so one softer week does not by itself establish weakening confirmation. Price has not yet established a clear direction.","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, Directional strength and control, Strength versus the research benchmark, 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":260,"displayedObservations":104,"assetType":"Equity","state":"Rotational","stateTone":"caution","summary":"Market Dynamics weakened this week and remains below zero. The broader path remains constructive, so one softer week does not by itself establish weakening confirmation. Price has not yet established a clear direction.","evidenceAlignment":{"status":"Repair in progress","headline":"Market Dynamics is improving while price remains rotational","summary":"Market Dynamics weakened this week and remains below zero. The broader path remains constructive, so one softer week does not by itself establish weakening confirmation. 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This is an early repair watch until price confirms it.","tone":"caution"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Market Dynamics remains below zero, but it has improved across the recent completed path. 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cautious, Market Dynamics positive","kind":"disagreement","expectedDirection":"higher","episodes":18,"completedEpisodes":18,"activeEpisodes":0,"medianExpectedMove":12.6,"averageExpectedMove":12.2,"averageWeeksToLargestMove":8.7,"horizons":[{"weeks":4,"sample":18,"expectedCount":14,"expectedPercent":77.8,"averageReturn":4.2,"medianReturn":3.0,"confidenceLow":54.8,"confidenceHigh":91.0,"confidence":"Historically consistent"},{"weeks":12,"sample":18,"expectedCount":16,"expectedPercent":88.9,"averageReturn":9.9,"medianReturn":8.9,"confidenceLow":67.2,"confidenceHigh":96.9,"confidence":"Historically consistent"},{"weeks":26,"sample":18,"expectedCount":15,"expectedPercent":83.3,"averageReturn":21.4,"medianReturn":28.3,"confidenceLow":60.8,"confidenceHigh":94.2,"confidence":"Historically consistent"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":1.2,"sample":18},{"week":2,"averageReturn":1.7,"sample":18},{"week":3,"averageReturn":3.5,"sample":18},{"week":4,"averageReturn":4.2,"sample":18},{"week":5,"averageReturn":4.6,"sample":18},{"week":6,"averageReturn":5.9,"sample":18},{"week":7,"averageReturn":5.6,"sample":18},{"week":8,"averageReturn":6.8,"sample":18},{"week":9,"averageReturn":7.4,"sample":18},{"week":10,"averageReturn":9.0,"sample":18},{"week":11,"averageReturn":9.0,"sample":18},{"week":12,"averageReturn":9.9,"sample":18},{"week":13,"averageReturn":11.2,"sample":18},{"week":14,"averageReturn":11.9,"sample":18},{"week":15,"averageReturn":13.5,"sample":18},{"week":16,"averageReturn":14.7,"sample":18},{"week":17,"averageReturn":16.3,"sample":18},{"week":18,"averageReturn":16.7,"sample":18},{"week":19,"averageReturn":16.3,"sample":18},{"week":20,"averageReturn":17.1,"sample":18},{"week":21,"averageReturn":17.5,"sample":18},{"week":22,"averageReturn":19.4,"sample":18},{"week":23,"averageReturn":21.0,"sample":18},{"week":24,"averageReturn":20.6,"sample":18},{"week":25,"averageReturn":21.5,"sample":18},{"week":26,"averageReturn":21.4,"sample":18}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":4,"completedEpisodes":1,"activeEpisodes":3,"medianExpectedMove":0.8,"averageExpectedMove":0.8,"averageWeeksToLargestMove":1.0,"horizons":[{"weeks":4,"sample":3,"expectedCount":2,"expectedPercent":66.7,"averageReturn":-1.7,"medianReturn":-2.0,"confidenceLow":20.8,"confidenceHigh":93.9,"confidence":"Mixed historical record"},{"weeks":12,"sample":1,"expectedCount":0,"expectedPercent":0.0,"averageReturn":4.4,"medianReturn":4.4,"confidenceLow":0.0,"confidenceHigh":79.3,"confidence":"Mixed historical record"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-1.8,"sample":4},{"week":2,"averageReturn":-1.5,"sample":4},{"week":3,"averageReturn":-1.8,"sample":4},{"week":4,"averageReturn":-1.7,"sample":3},{"week":5,"averageReturn":-1.5,"sample":3},{"week":6,"averageReturn":-0.6,"sample":2},{"week":7,"averageReturn":-1.0,"sample":2},{"week":8,"averageReturn":-1.5,"sample":2},{"week":9,"averageReturn":2.5,"sample":1},{"week":10,"averageReturn":3.2,"sample":1},{"week":11,"averageReturn":8.7,"sample":1},{"week":12,"averageReturn":4.4,"sample":1},{"week":13,"averageReturn":0.2,"sample":1},{"week":14,"averageReturn":-1.6,"sample":1},{"week":15,"averageReturn":-3.1,"sample":1},{"week":16,"averageReturn":-1.4,"sample":1},{"week":17,"averageReturn":1.4,"sample":1},{"week":18,"averageReturn":-0.8,"sample":1},{"week":19,"averageReturn":-2.6,"sample":1},{"week":20,"averageReturn":-0.3,"sample":1},{"week":21,"averageReturn":-2.6,"sample":1},{"week":22,"averageReturn":-1.0,"sample":1},{"week":23,"averageReturn":-2.6,"sample":1},{"week":24,"averageReturn":-2.3,"sample":1},{"week":25,"averageReturn":-3.2,"sample":1},{"week":26,"sample":0}]},"currentApplication":{"status":"Repair in progress","tone":"caution","headline":"Market Dynamics is repairing while price remains rotational","use":"The repair is constructive, but price has not yet established a clear response.","confirm":"Treat the repair as constructive context until price confirms it.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"weakening","zone":"middle","zoneContext":"Market Dynamics remains below zero, but it has improved across the recent completed path. This is an early repair watch until price confirms it.","historical":{"label":"Broad directional cases","weeks":12,"sample":0},"nowContext":{"label":"Slightly easier this week","detail":"Market Dynamics weakened this week and remains below zero."},"fourWeekContext":{"label":"Strengthened over four weeks","detail":"The broader path remains constructive, so one softer week does not by itself establish weakening confirmation."},"priceContext":{"label":"Price has no clear direction","detail":"Price remains rotational while the Market Dynamics condition develops."}},"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":"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 3 cases. Distinct visits lasted 8.0 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 5.9% across 20 completed cases, with the largest move arriving after 7.3 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":[{"date":"2024-09-06","price":3.918395}],"distribution_rollovers":[{"date":"2026-02-06","price":8.0845},{"date":"2026-05-29","price":8.25},{"date":"2026-07-17","price":8.16}],"price_pressure_gaps":[{"date":"2026-02-20","price":8.38136},{"date":"2026-06-19","price":8.498509},{"date":"2026-07-10","price":8.36},{"date":"2026-07-24","price":8.3}]}},"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":[4.0198,3.7801,3.9184,3.9461,4.1489,4.1028,4.2411,4.2959,4.2025,4.1932,4.1745,4.2306,4.2025,4.4454,5.0244,4.9683,5.1364,4.9216,4.9497,5.2018,5.0809,5.0714,5.1187,5.185,5.3364,5.2607,5.677,5.5729,5.677,5.6013,5.554,5.4972,5.4404,5.5554,5.5554,5.5075,5.6416,5.7182,5.8331,5.7469,6.2258,6.1684,6.2833,6.3599,6.609,6.8005,6.5316,6.5025,6.551,6.6286,6.6092,6.5607,6.6772,6.6966,6.7936,6.7936,6.6966,6.8422,6.8907,7.0071,7.1737,7.1149,7.1639,7.6148,7.6442,7.8598,7.9088,7.5462,7.6246,7.8892,8.1342,8.1244,8.1835,8.411,8.4803,8.51,8.0845,8.2131,8.3814,8.3121,8.3814,8.322,8.4506,8.4605,8.609,8.51,8.51,8.59,8.65,9.11,8.75,8.4,8.25,8.12,8.2611,8.4985,8.3105,8.1621,8.36,8.16,8.3,8.16,8.19,8.11],"consensus":[29.2239,-51.1519,27.7045,15.5724,60.6308,14.2643,63.1055,42.1191,0.0,9.1937,0.0,38.8421,0.0,68.004,85.4511,32.0806,69.9352,0.0,21.6053,62.9526,0.0,22.0262,33.3887,40.2497,63.3979,11.44,73.0573,20.3031,60.6773,11.2708,12.7371,0.0,-15.3595,33.8413,20.0625,0.0,56.2786,43.6601,42.0947,0.0,80.3289,34.834,61.2177,49.7906,75.6567,61.7312,0.0,13.2482,15.8785,29.6681,14.1758,0.0,38.176,19.011,48.2123,34.5862,-9.0385,38.7299,31.6808,46.2818,46.9484,11.8842,32.2056,80.7132,39.441,76.4745,59.2981,-23.9648,25.2441,52.6428,59.5909,45.1298,42.3182,67.1031,53.7042,45.8697,-33.851,30.0274,39.5855,0.0,38.0561,11.0836,31.9979,15.5433,36.8673,0.0,0.0,19.0891,32.4678,67.9439,-10.4675,-45.2751,-47.435,-24.373,0.0,29.8948,-29.3764,-37.5263,25.0662,-47.9544,16.5048,-32.8394,-17.4864,-28.6328],"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":[40.4149,18.571,58.5012,37.6449,-8.999,41.4127,30.9607,50.4884,45.758,5.5941,27.891,85.2392,30.4897,77.4289,62.2007,-24.9458,29.5327,53.7508,71.6982,49.3178,38.9305,63.3041,59.0526,48.5697,-32.6282,40.8843,58.185,0.0,36.1502,12.4059,36.0293,12.3967,35.8751,0.0,0.0,19.4519,46.1951,66.0025,-22.5109,-44.8346,-38.8724,-9.436,0.0,40.1957,-40.3251,-49.6575,32.428,-44.9623,25.2333,-36.349,-14.4239,-25.8189],"force":[36.2751,3.4264,40.3768,19.5505,-44.5463,37.7873,29.416,40.9775,38.2807,28.8198,15.815,98.4757,20.7316,89.6598,45.7609,-88.2094,14.5932,70.2088,47.0667,18.3314,23.7203,80.0814,36.4607,22.2488,-88.6402,44.839,36.4091,0.0,41.1806,5.5799,34.211,3.7525,37.9743,0.0,0.0,10.084,24.5883,89.5051,-47.9873,-71.162,-64.4546,-5.6492,0.0,45.2131,-32.7188,-32.3455,51.3643,-58.1706,42.6345,-38.9664,-3.6224,-32.1491],"direction":[36.9752,30.6457,42.0504,41.8304,-16.2791,36.3371,34.1216,45.2632,54.5001,48.1471,48.8442,62.8531,63.0349,65.9656,65.6502,-23.0455,27.9507,38.8292,54.6998,59.4852,59.4741,62.1745,59.9086,59.6559,-3.8866,7.0397,20.5979,0.0,38.0024,21.4748,25.8097,27.5614,37.2105,0.0,0.0,25.1066,22.4078,54.7618,-30.0962,-27.2877,-45.064,-54.8179,0.0,7.1806,-14.4761,-27.3627,2.1318,-44.0766,12.1347,-24.4521,-30.8894,-29.3369],"intensity":[34.6154,23.0769,30.7692,7.6923,32.6923,53.8462,30.7692,42.3077,86.5385,23.0769,7.6923,94.2308,92.3077,73.0769,82.6923,92.3077,59.6154,92.3077,86.5385,38.4615,32.6923,82.6923,13.4615,57.6923,92.3077,76.9231,59.6154,13.4615,28.8462,21.1538,59.6154,76.9231,46.1538,48.0769,1.9231,40.3846,9.6154,100.0,86.5385,88.4615,90.3846,76.9231,44.2308,63.4615,61.5385,48.0769,65.3846,65.3846,51.9231,40.3846,7.6923,38.4615],"confirmation":[80.1243,50.9486,83.0324,78.5627,30.1146,80.324,78.0798,82.5844,82.7775,8.8065,77.872,94.3006,80.1873,92.8591,86.5186,37.1947,75.6882,85.3641,86.5029,81.561,81.0267,89.9264,84.5783,81.9173,58.6832,55.2281,80.2871,26.718,80.3022,49.5425,78.2453,49.9958,79.8464,7.5457,2.8767,73.8285,77.9404,90.4287,33.3967,83.2837,83.8284,52.7897,31.3927,55.2095,77.3355,79.6657,54.4986,83.7023,31.2003,78.6419,50.5531,77.3125],"persistence":[75.0,75.0,87.5,87.5,62.5,62.5,62.5,75.0,75.0,75.0,75.0,75.0,100.0,100.0,100.0,75.0,75.0,75.0,75.0,75.0,75.0,75.0,75.0,100.0,75.0,75.0,75.0,62.5,62.5,62.5,62.5,62.5,87.5,75.0,62.5,75.0,75.0,75.0,50.0,25.0,0.0,12.5,12.5,12.5,37.5,62.5,37.5,37.5,12.5,12.5,25.0,50.0],"assessmentRisk":[12.2557,15.3178,21.1885,30.5844,12.1488,23.3266,20.8105,26.6272,26.5255,43.9388,33.7849,9.6324,30.2104,11.7613,20.3496,6.2049,18.0679,18.2334,12.2275,27.2345,28.5933,16.051,20.8807,25.5601,5.5614,52.2695,42.3953,36.7716,27.9741,22.2319,3.8772,29.5197,26.3438,42.5318,17.0706,25.2992,2.9581,16.0114,48.7808,14.0397,24.259,37.8063,47.6935,6.1751,27.8562,28.1362,7.7858,20.7271,10.4694,15.9723,26.7118,0.2652],"volumeParticipation":true,"latest":{"consensus":-28.6,"control":-25.8,"force":-32.1,"direction":-29.3,"confirmation":77.3,"persistence":50.0,"assessmentRisk":0.3,"intensity":38.5,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the downward view","summary":"The completed evidence gives the downward view the clearer support.","take":"Current assessment: downward pressure has the stronger support.","tone":"negative","supportedView":"Market Dynamics","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is easing","forceState":"Downward commitment","forcePath":"Commitment is easing","directionState":"Downward follow-through","persistenceState":"Developing","confirmationState":"Strong support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-28.6","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-25.8","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-32.1","detail":"Downward 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