{"schema_version":"1.0","name":"FORTE Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"616943d5-39f6-4a6f-8faa-e654715321e0","symbol":"FORTE","name":"Fineco AM Active Collection US UCITS ETF A EUR Acc","exchange":"MIL","country":"IT","asset_type":"etf","currency":"EUR","sector":null,"industry":null},"summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. The upward price structure is leading its underlying support.","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, Activity pressure and cumulative balance, Strength versus the research benchmark, Range position and boundary pressure, 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":"2026-08-21","observations":60,"displayedObservations":60,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. The upward price structure is leading its underlying support.","evidenceAlignment":{"status":"Price ahead of underlying support","headline":"The upward price response is leading Market Dynamics","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. The upward price structure is leading its underlying support.","take":"Treat the gap as an early-downside risk watch. Stronger Market Dynamics would confirm the price move; a weaker price response would confirm that the gap is closing through 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support","tone":"caution","headline":"Price is leading its underlying support","use":"Market Dynamics must catch up or price may correct toward the weaker underlying position.","confirm":"Treat the gap as an early-downside risk watch. Stronger Market Dynamics would confirm the price move; a weaker price response would confirm that the gap is closing through correction.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","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":0.0,"averageReturn":8.4,"sample":2},"nowContext":{"label":"Easier this week","detail":"Market Dynamics eased this week but remains positive."},"fourWeekContext":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"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, 0.0% of comparable cases moved lower after 12 weeks, with an average move of 8.4% across 2 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 1 cases. Distinct visits lasted 1.0 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 4.6% across 2 completed cases, with the largest move arriving after 1.5 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":[],"reversal_warnings":[{"date":"2026-05-08","price":11.924}],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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","2026-08-21"],"close":[10.085,10.292,10.348,10.364,10.62,10.516,10.618,10.402,10.602,10.602,10.602,10.632,10.8,11.086,10.994,10.996,11.13,11.338,11.396,10.904,10.928,11.296,11.34,10.884,11.362,11.362,11.176,11.49,11.514,11.24,11.108,11.136,10.756,11.18,11.066,10.936,11.16,10.546,10.156,11.532,11.508,11.576,11.6,11.65,11.924,12.142,12.278,12.344,12.308,12.218,12.42,12.276,12.48,12.482,12.386,12.42,12.238,12.736,12.754,12.47],"consensus":[100.0,100.0,-63.3987,-100.0,80.8306,39.176,54.7546,-23.1016,58.92,35.6358,25.8052,40.7372,81.2541,91.2458,29.3831,49.5212,70.587,73.777,40.251,-38.9672,-12.6347,52.0081,31.1088,-45.2818,60.3376,20.3366,-31.7924,54.9294,27.8665,-20.2285,-14.0146,-19.2741,-47.6392,8.7821,-12.838,-30.0969,19.9349,-58.1434,-56.7599,57.873,12.4735,29.1702,15.936,9.8068,25.8044,36.1449,45.5375,34.1013,13.3332,21.4009,18.9344,19.4841,21.221,23.0971,0.0,21.2816,-26.1701,59.2331,17.8583,17.9288],"supportDates":["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","2026-08-21"],"control":[66.2422,31.1985,30.2978,26.6942,83.8118,91.6914,22.018,42.7464,75.5395,79.9414,17.7474,-38.5524,-13.0489,56.2053,38.9971,-45.4721,54.115,23.3539,-26.0144,45.8186,29.7082,-11.0204,-14.5207,-16.3686,-46.2256,5.0919,-13.2054,-27.5004,16.586,-49.7063,-44.3959,53.9609,5.8387,23.3031,3.7765,6.5813,10.4562,36.1048,51.9577,29.1145,0.6269,24.0948,13.7067,30.1399,17.9607,22.0376,0.0,24.1791,-19.93,62.1406,9.4065,24.0566],"force":[69.2826,6.3562,1.4692,22.8899,83.1411,99.0969,29.8926,21.0212,66.313,69.4961,32.135,-83.8755,-13.3768,78.5243,24.048,-86.4825,93.3026,2.3031,-81.1397,83.5139,17.6599,-56.7132,-13.7,-22.8562,-53.3677,30.6195,-17.735,-45.5878,33.5249,-88.8443,-79.568,94.2001,3.7095,24.0112,2.7499,4.4105,32.7191,23.3759,30.1351,20.0933,7.9669,8.8496,4.6912,3.182,7.5878,5.558,0.0,11.3099,-63.3782,84.1451,0.8973,48.4746],"direction":[43.1499,61.621,40.1524,69.5344,76.9831,85.1285,80.14,77.6211,67.9798,69.7898,71.7665,-7.3638,-11.6312,28.2713,27.1369,-15.6352,43.9026,29.7694,-3.1479,44.9243,33.0522,-4.6915,-13.6608,-20.0361,-45.163,2.5986,-8.9201,-21.9995,14.0551,-45.8565,-54.5987,36.3959,31.6153,39.5604,39.2512,23.6484,38.4062,45.3114,49.2019,49.8063,43.069,27.2875,35.0826,18.9503,34.6851,36.8358,0.0,25.0928,-6.7245,38.1159,40.9143,10.8929],"intensity":[37.5,44.4444,10.0,27.2727,33.3333,92.3077,42.8571,13.3333,25.0,76.4706,100.0,100.0,20.0,90.4762,22.7273,95.6522,95.8333,96.0,92.3077,74.0741,25.0,82.7586,66.6667,96.7742,81.25,78.7879,35.2941,25.7143,50.0,94.5946,94.7368,100.0,97.5,82.9268,50.0,62.7907,68.1818,40.0,26.087,25.5319,14.5833,81.6327,88.0,47.0588,57.6923,3.8462,46.1538,5.7692,78.8462,80.7692,59.6154,48.0769],"confirmation":[87.0586,55.9121,53.0047,80.706,94.0198,97.4311,36.7521,83.0815,90.3821,91.3843,80.9759,59.1778,72.0594,85.3868,77.6194,83.7429,88.4075,51.2455,57.0989,86.5874,76.5782,53.0587,72.4674,74.3212,83.4407,26.7531,72.2518,78.1427,74.8444,87.6701,87.0467,87.6861,27.0574,77.2666,27.5496,26.3616,76.702,79.1778,82.0048,78.5615,28.1774,74.4247,51.0379,50.909,51.7583,52.206,28.1535,74.4621,54.9368,87.6695,50.7966,39.5652],"persistence":[25.0,25.0,50.0,75.0,75.0,75.0,75.0,100.0,100.0,100.0,100.0,75.0,50.0,50.0,50.0,25.0,25.0,25.0,0.0,25.0,50.0,25.0,0.0,0.0,25.0,25.0,25.0,50.0,50.0,50.0,50.0,25.0,0.0,0.0,25.0,50.0,50.0,75.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,87.5,87.5,62.5,62.5,62.5,37.5],"assessmentRisk":[35.3314,8.7474,18.6369,26.6124,4.7249,4.2796,34.9259,24.6572,13.7282,10.56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upward confirmation","headline":"The gauges support the upward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same upward assessment.","take":"Current assessment: upward pressure has broad support.","tone":"positive","supportedView":"Price structure and Market Dynamics","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Broadly stable","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Follow-through is limited","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"+17.9","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+24.1","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+48.5","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+10.9","detail":"Follow-through is 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pressure and cumulative balance","description":"Observed activity is compared with its normal backdrop while cumulative balance tracks directional participation.","reason":"Selected because participation is confirming or diverging from the latest price path.","series":[{"label":"Activity versus norm","values":[null,null,null,null,null,null,null,1.524,1.6299,0.0,0.0,1.6169,1.4561,77.8999,2.4527,359.31,1.3573,1.0446,33.8677,479.8322,382.8911,30.7252,38.9523,156.0332,307.4214,0.0,68.9786,112.0949,25.5963,254.0684,10.4268,17.7791,1.4208,39.019,21.4256,135.9498,26.3529,203.0898,249.8095,195.9927,0.471,1.9633,215.4451,24.1296,166.2165,15.5575,11.1567,139.2174,2.0208,9.4544,9.7059,0.0474,8.0214,0.0,58.5905,5.9698,44.5634,44.8602,44.9117,24.6896],"stroke":"#1678a7","width":1.8},{"label":"Cumulative 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leadership","title":"Strength versus the research benchmark","description":"Relative performance is separated from absolute price direction to reveal leadership and lagging pressure.","reason":"Selected because benchmark-relative leadership is strengthening, fading or diverging from price.","series":[{"label":"Relative 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map","title":"Range position and boundary pressure","description":"Price location inside its observed range shows whether the tape is pressing an outer boundary or rotating through value.","reason":"Selected because price is testing an observed boundary or moving rapidly through its recent range.","series":[{"label":"Range position","values":[null,null,null,null,null,null,null,58.5557,89.9529,89.9529,89.9529,84.5722,100.0,100.0,91.2961,91.4853,97.5199,95.3387,95.2613,57.0776,58.6432,82.6484,85.5186,55.773,86.9537,86.9537,60.5009,75.9189,76.8531,59.0377,50.4551,43.8471,21.147,46.4755,32.3963,23.6948,38.6881,0.2608,11.2344,74.8497,73.7402,74.3406,75.4135,77.6486,84.0368,91.54,97.1253,95.1468,93.7378,90.2153,98.1213,92.4853,98.4657,98.5424,94.86,96.1642,76.1546,92.4664,93.056,83.7537],"stroke":"#10243b","width":2.0},{"label":"From 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quality","title":"Directional strength and control","description":"Directional pressure shows which side controls the tape while strength remains direction-neutral.","reason":"Selected because directional control or trend strength is materially changing.","series":[{"label":"Trend strength","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,42.5516,40.2128,38.041,36.3538,34.7871,33.9459,32.452,31.0648,29.095,27.1846,25.8739,24.5684,24.8228,23.7774,22.7681,21.8398,20.9777,20.1773,20.1221,19.8055,19.5116,19.6702,19.8174,18.4146,17.1878,16.5638,15.464,14.4427,14.0326,13.6256,13.4573,13.301,13.5172,12.8267],"stroke":"#10243b","width":2.0},{"label":"Positive 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