{"schema_version":"1.0","name":"ERCB Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"64f2cf97-543a-475c-8f88-f7a0ae380e84","symbol":"ERCB","name":"Telefonaktiebolaget LM Ericsson (publ)","exchange":"GER","country":"DE","asset_type":"equity","currency":"EUR","sector":"Technology","industry":"Communication Equipment"},"summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","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, Activity pressure and cumulative balance, Acceleration, deceleration and rollover, Directional strength and control, Drawdown and recovery 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":"Rotational","stateTone":"caution","summary":"Market Dynamics weakened this week and remains below zero. 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consistent"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":1.7,"sample":22},{"week":2,"averageReturn":2.2,"sample":22},{"week":3,"averageReturn":3.3,"sample":22},{"week":4,"averageReturn":3.0,"sample":22},{"week":5,"averageReturn":1.1,"sample":22},{"week":6,"averageReturn":3.5,"sample":22},{"week":7,"averageReturn":3.6,"sample":22},{"week":8,"averageReturn":6.1,"sample":22},{"week":9,"averageReturn":6.8,"sample":22},{"week":10,"averageReturn":8.7,"sample":21},{"week":11,"averageReturn":9.0,"sample":21},{"week":12,"averageReturn":7.6,"sample":21},{"week":13,"averageReturn":7.7,"sample":21},{"week":14,"averageReturn":11.4,"sample":21},{"week":15,"averageReturn":17.4,"sample":21},{"week":16,"averageReturn":16.9,"sample":20},{"week":17,"averageReturn":17.3,"sample":20},{"week":18,"averageReturn":17.5,"sample":20},{"week":19,"averageReturn":19.6,"sample":20},{"week":20,"averageReturn":20.7,"sample":20},{"week":21,"averageReturn":21.0,"sample":19},{"week":22,"averageReturn":29.1,"sample":19},{"week":23,"averageReturn":31.2,"sample":19},{"week":24,"averageReturn":31.5,"sample":19},{"week":25,"averageReturn":31.5,"sample":19},{"week":26,"averageReturn":31.0,"sample":19}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":0,"completedEpisodes":0,"activeEpisodes":0,"horizons":[{"weeks":4,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":12,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"sample":0},{"week":2,"sample":0},{"week":3,"sample":0},{"week":4,"sample":0},{"week":5,"sample":0},{"week":6,"sample":0},{"week":7,"sample":0},{"week":8,"sample":0},{"week":9,"sample":0},{"week":10,"sample":0},{"week":11,"sample":0},{"week":12,"sample":0},{"week":13,"sample":0},{"week":14,"sample":0},{"week":15,"sample":0},{"week":16,"sample":0},{"week":17,"sample":0},{"week":18,"sample":0},{"week":19,"sample":0},{"week":20,"sample":0},{"week":21,"sample":0},{"week":22,"sample":0},{"week":23,"sample":0},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]},"currentApplication":{"status":"Underlying support lags price","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":"This is a downside risk watch, not a completed reversal. Stronger Market Dynamics or weaker price is needed to close the gap.","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":47.6,"averageReturn":11.1,"sample":21},"nowContext":{"label":"Slightly easier this week","detail":"Market Dynamics weakened this week and remains below zero."},"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, 47.6% of comparable cases moved lower after 12 weeks, with an average move of 11.1% across 21 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 32.0 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 10.6% across 21 completed cases, with the largest move arriving after 6.6 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":"2026-06-19","price":9.842}],"price_pressure_gaps":[]}},"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":[2.9059,2.9612,2.8752,2.9489,2.9673,3.0323,3.6881,3.7517,4.2691,4.2998,4.3053,4.1782,4.1442,4.2516,4.2231,4.3459,4.3196,4.2505,4.2812,4.336,4.4128,4.5553,4.0433,4.0104,4.0389,4.1507,4.2067,4.3273,4.3459,4.1255,4.1683,4.8764,4.3328,4.2588,4.8778,4.871,5.0015,4.9585,5.1361,5.1765,5.0217,5.0648,4.8872,4.8656,4.8778,4.945,4.645,4.3288,4.2884,4.2184,4.3637,4.4458,4.5602,4.5615,4.6033,4.5588,4.6436,5.8165,6.0342,6.0426,6.8511,6.8849,7.393,7.0655,7.1381,6.9035,7.0064,6.9339,6.8933,7.0166,6.9929,6.8765,6.814,6.8967,7.5111,7.7373,7.9027,7.8403,8.0749,8.2808,8.1289,8.4816,8.2521,8.2133,9.938,10.19,9.786,9.634,9.84,10.09,10.795,11.555,11.125,11.09,10.7,9.842,9.634,9.674,9.984,8.624,8.274,8.554,8.816,8.858],"consensus":[62.4954,62.3594,0.0,59.1451,42.8275,55.7299,76.7267,59.1012,91.351,59.3631,50.6934,27.5123,16.2436,57.1416,11.3615,65.4018,24.3419,11.4864,43.8315,38.2311,51.0624,65.5928,-60.0341,-37.796,-10.3808,10.3859,29.2097,42.5272,24.7502,-41.7897,0.0,62.9768,-36.476,0.0,70.6068,22.0837,53.915,25.3037,59.9402,36.3669,-13.0478,30.5665,-31.0629,-16.9358,9.106,19.1391,-54.7272,-70.8815,-56.1824,-58.1192,0.0,0.0,26.1669,0.0,20.4586,-13.5584,25.3367,70.1309,70.2597,32.8814,85.8644,46.4981,86.4442,10.2209,43.4099,0.0,38.2423,0.0,0.0,48.7436,8.2764,0.0,-12.3649,20.9506,66.8853,63.405,55.2791,26.6454,63.3352,62.3897,22.2649,64.8102,0.0,15.5072,79.2551,61.3385,8.5369,14.8367,38.6789,35.2924,73.9191,79.2747,9.7851,20.6664,21.7313,-44.7663,-31.6225,-12.0927,0.0,-73.152,-62.1791,-26.521,-18.5172,-11.4421],"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":[29.7367,0.0,18.0714,-25.9435,30.9042,72.9389,75.4288,15.3186,84.6621,34.3313,84.9636,9.5738,32.5024,0.0,59.9521,0.0,0.0,60.2302,3.2753,0.0,-8.9126,29.999,60.6387,58.9825,58.0959,18.1722,66.8456,71.8794,21.9604,58.6281,0.0,20.9963,76.6555,58.9296,1.672,3.9202,49.0597,39.4873,73.2063,80.1794,0.3221,4.9502,33.8498,-51.2952,-26.5247,-5.4576,0.0,-63.8117,-64.7036,-17.3028,-5.7914,-11.9853],"force":[47.4902,0.0,30.9012,-17.1124,30.4698,66.3881,54.7295,0.516,94.5259,16.8399,92.8286,52.2115,24.1351,0.0,13.6117,0.0,0.0,35.8143,17.0937,0.0,-41.9997,26.8982,94.6566,76.9446,42.8707,4.1717,62.4336,48.9352,15.0123,82.7767,0.0,3.4584,99.5194,52.5838,60.0375,31.6059,24.3976,25.2995,87.7742,90.8866,49.8851,10.0165,4.6887,-49.2062,-21.3131,-4.9581,0.0,-98.4381,-47.0435,-13.0011,-15.4115,-10.3892],"direction":[6.8564,0.0,15.7277,-3.1344,15.3073,69.595,75.445,76.8084,81.0517,81.5874,83.576,77.4379,69.6434,0.0,31.0243,0.0,0.0,44.8512,32.1136,0.0,-4.8574,6.3613,54.1877,58.7882,60.9231,58.3413,59.9674,61.1546,49.2396,59.0422,0.0,22.7808,67.7515,70.3449,65.3641,60.486,37.016,37.6359,64.8372,69.9465,63.9578,60.5442,26.7529,-34.1334,-44.8123,-44.3294,0.0,-65.765,-70.1051,-65.2863,-57.2956,-26.415],"intensity":[44.2308,51.9231,7.6923,13.4615,23.0769,100.0,100.0,71.1538,94.2308,92.3077,82.6923,75.0,71.1538,67.3077,28.8462,15.3846,1.9231,40.3846,25.0,46.1538,51.9231,65.3846,90.3846,90.3846,59.6154,7.6923,65.3846,57.6923,46.1538,82.6923,73.0769,73.0769,100.0,100.0,76.9231,46.1538,57.6923,76.9231,86.5385,86.5385,76.9231,65.3846,84.6154,90.3846,55.7692,1.9231,73.0769,96.1538,96.1538,51.9231,48.0769,9.6154],"confirmation":[54.3022,25.0174,74.9014,50.2603,76.1793,90.285,89.931,55.2153,95.7589,82.1609,95.8793,37.5171,81.47,12.55,79.1561,6.9122,5.4265,83.0289,5.5981,6.4032,51.2821,52.0809,90.3448,88.7696,85.2682,53.9398,88.1863,87.4101,31.8626,89.381,33.5251,50.3718,94.0188,87.3982,13.5545,10.2413,79.7838,78.9251,92.0872,93.708,12.1776,8.0545,52.2978,82.361,77.8827,28.5062,25.7151,92.3216,87.3976,32.863,8.3732,27.8709],"persistence":[25.0,37.5,12.5,12.5,12.5,37.5,50.0,62.5,62.5,75.0,75.0,100.0,100.0,87.5,87.5,75.0,62.5,62.5,62.5,50.0,25.0,37.5,37.5,50.0,62.5,62.5,62.5,75.0,100.0,100.0,87.5,87.5,87.5,87.5,87.5,87.5,87.5,87.5,100.0,100.0,100.0,100.0,100.0,75.0,50.0,25.0,12.5,12.5,37.5,62.5,87.5,87.5],"assessmentRisk":[34.6562,48.0142,36.5106,40.9439,14.2718,14.8632,14.843,33.5463,7.0674,26.5182,6.7334,44.4093,9.982,1.5491,56.5513,18.6687,29.1061,10.6725,6.5067,6.9221,7.21,38.0653,14.9275,18.2536,22.3586,36.6682,18.0723,18.4583,29.5782,17.3987,34.2168,22.212,10.3173,19.2561,45.5015,42.2397,29.0053,27.4936,11.0853,10.287,44.0499,36.9116,18.9423,27.155,33.2334,43.7882,42.1905,12.091,18.0707,34.7667,39.061,26.5323],"volumeParticipation":true,"latest":{"consensus":-11.4,"control":-12.0,"force":-10.4,"direction":-26.4,"confirmation":27.9,"persistence":87.5,"assessmentRisk":26.5,"intensity":9.6,"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":"Control support is limited","controlPath":"Control support is easing","forceState":"Commitment is limited","forcePath":"Commitment is easing","directionState":"Downward follow-through","persistenceState":"Established","confirmationState":"Limited support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-11.4","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-12.0","detail":"Control support is limited","tone":"negative"},{"label":"SM Force Gauge","value":"-10.4","detail":"Commitment is limited","tone":"negative"},{"label":"SM Direction Gauge","value":"-26.4","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"28/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"47.9","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"6.4%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"39.0","detail":"Directional","tone":"positive"},{"label":"Range position","value":"26%","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 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