{"schema_version":"1.0","name":"DEF Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"62cb4a9c-d231-4dae-8368-434073f9f81b","symbol":"DEF","name":"DEFAMA Deutsche Fachmarkt AG","exchange":"GER","country":"DE","asset_type":"equity","currency":"EUR","sector":"Real Estate","industry":"Real Estate Services"},"summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. 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conflict","tone":"caution","headline":"Market Dynamics is repairing against a downward price structure","use":"The downside structure remains in place, but improving Market Dynamics weakens that case. A positive price response is needed to confirm the repair.","confirm":"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.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"strengthening","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 stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeekContext":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"priceContext":{"label":"Price remains in a downward structure","detail":"Improving Market Dynamics has not yet produced a positive price response."}},"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 distribution to protect capital before considering the short case","tone":"negative","finding":"After distribution, 100.0% of completed 12-week outcomes were lower across 2 cases. Distinct visits lasted 5.0 weeks on average before leaving the zone.","approach":"Review long exposure and define the evidence that would confirm a rollover. Short exposure should begin only after price weakens and the loss limit is known.","watch":"A sustained repair in price and Market Dynamics invalidates the downside setup."},{"eyebrow":"Disagreement playbook","title":"Use improving Market Dynamics to prepare, not anticipate","tone":"recovery","finding":"Comparable disagreements produced an average recovery of 5.8% across 23 completed cases, with the largest move arriving after 5.7 weeks on average.","approach":"Define the price level that would confirm the repair. Until that response occurs, keep the idea at watchlist or starter-position size.","watch":"The early repair fails if Market Dynamics fades before price responds."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[],"distribution_rollovers":[{"date":"2025-10-24","price":29.200001},{"date":"2025-11-21","price":27.799999}],"price_pressure_gaps":[{"date":"2025-11-07","price":30.799999}]}},"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":[25.8343,25.8343,26.4214,26.4214,26.4214,26.8129,27.0086,27.0086,27.2043,27.4,27.5957,27.4,27.5957,28.5743,28.77,28.1829,27.5957,27.2043,27.5957,27.5957,26.8129,27.5957,28.1829,27.9871,27.5957,27.4,27.0086,27.5957,26.6171,26.2257,26.8129,27.2043,25.4429,25.4429,26.4214,26.2257,25.4429,25.2471,25.4429,26.2257,27.0086,27.2043,26.2257,27.2043,26.6171,27.2043,27.4,27.4,28.0,27.8,27.8,27.8,27.8,29.2,29.6,30.2,29.8,29.8,30.2,30.0,29.8,29.2,29.6,30.8,29.8,27.8,28.0,28.2,28.0,28.0,28.0,27.8,28.2,28.0,27.8,27.8,27.8,28.0,27.0,27.6,26.4,26.6,25.6,25.0,24.2,24.8,25.3,25.2,24.7,24.0,24.7,24.5,23.9,23.8,23.1509,23.1509,23.0536,22.8591,22.3727,23.2,22.4,22.4,22.9,22.1],"consensus":[27.7726,0.0,41.6868,28.6625,18.656,47.6341,34.1766,24.4161,30.9463,35.9728,28.3392,10.9375,26.9643,60.5203,27.0797,0.0,-22.349,-36.1429,12.6451,0.0,-37.9428,25.0043,30.7841,14.0384,0.0,0.0,-26.2739,10.305,-48.6429,-32.6143,0.0,11.139,-63.4294,-24.3899,17.358,-14.1301,-37.8909,-29.3113,-15.1846,22.5704,36.8484,26.6135,-16.5403,34.0354,-9.3495,24.7972,19.9905,24.0149,40.2123,15.5389,17.838,17.3339,14.3977,60.1178,25.7544,47.9201,8.7038,27.5088,39.9788,13.0322,9.684,-10.6007,12.9112,40.4733,0.0,-59.7913,-22.3524,-20.868,-27.9877,-16.2993,0.0,-22.4659,11.4713,-11.398,-10.985,0.0,0.0,0.0,-44.3107,12.588,-49.4368,-8.4444,-51.2343,-42.5209,-66.5769,-19.8862,0.0,-9.6188,-25.275,-52.8808,0.0,-25.2024,-43.5094,-35.021,-41.719,-43.637,-18.9996,-32.8504,-59.0448,15.4215,-53.0989,-28.6636,16.1044,-58.9745],"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":[20.7479,51.5841,11.8464,50.425,3.9422,28.2918,43.4669,14.3194,10.4218,-8.6621,19.7467,41.3362,0.0,-56.1557,-17.6047,-15.0839,-23.9126,-19.9405,0.0,-23.3015,16.373,-10.8535,-8.1117,0.0,0.0,0.0,-36.3958,11.4637,-49.3843,-5.275,-49.5283,-35.328,-65.6672,-12.9485,0.0,-9.1705,-36.2574,-49.4552,0.0,-25.5689,-46.9204,-48.6868,-41.9977,-50.9175,-7.9543,-31.1898,-66.5395,11.7106,-48.6884,-31.77,9.4743,-57.9306],"force":[6.8409,85.2213,10.0507,29.7825,31.05,10.1208,32.8548,1.3225,3.5872,-21.2041,17.4643,44.956,0.0,-89.9538,-6.7836,-8.1841,-22.7833,-11.4584,0.0,-18.8075,29.3313,-10.8324,-5.5065,0.0,0.0,0.0,-71.0265,50.3533,-57.2594,-13.3005,-56.153,-36.6387,-79.6091,-11.4861,0.0,-4.3773,-13.3506,-69.5783,0.0,-14.5839,-42.7222,-17.1045,-26.9225,-22.8947,-1.6274,-13.7545,-58.7896,68.2225,-74.8919,-12.4172,54.039,-81.9582],"direction":[12.5382,51.9394,52.8662,58.0127,51.5521,39.034,41.0808,21.8145,18.3202,-5.2424,1.8469,36.2853,0.0,-42.4016,-38.8988,-36.5382,-36.3624,-15.5959,0.0,-24.1239,6.8878,-12.4243,-18.1819,0.0,0.0,0.0,-34.2737,13.1023,-43.9092,-39.6558,-49.6708,-54.9428,-58.3079,-50.2237,0.0,-20.1286,-21.2413,-44.869,0.0,-32.3682,-40.1733,-32.2006,-51.9694,-50.1325,-46.3563,-48.3882,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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 strengthening","directionState":"Downward follow-through","persistenceState":"Developing","confirmationState":"Strong support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-59.0","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-57.9","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-82.0","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}