{"schema_version":"1.0","name":"LUCE Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"68d790a2-5c82-4408-8d67-c5381d145c5d","symbol":"LUCE","name":"Luceco plc","exchange":"LSE","country":"GB","asset_type":"equity","currency":"GBP","sector":"Industrials","industry":"Electrical Equipment & Parts"},"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, Drawdown and recovery pressure, Acceleration, deceleration and rollover, Directional strength and control, Range pressure and compression."},{"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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record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-0.7,"sample":19},{"week":2,"averageReturn":-2.3,"sample":19},{"week":3,"averageReturn":-2.4,"sample":19},{"week":4,"averageReturn":-1.4,"sample":19},{"week":5,"averageReturn":0.6,"sample":19},{"week":6,"averageReturn":0.5,"sample":18},{"week":7,"averageReturn":3.2,"sample":18},{"week":8,"averageReturn":4.9,"sample":18},{"week":9,"averageReturn":6.3,"sample":17},{"week":10,"averageReturn":7.0,"sample":17},{"week":11,"averageReturn":10.2,"sample":17},{"week":12,"averageReturn":11.0,"sample":17},{"week":13,"averageReturn":14.1,"sample":17},{"week":14,"averageReturn":12.4,"sample":17},{"week":15,"averageReturn":14.6,"sample":17},{"week":16,"averageReturn":19.2,"sample":17},{"week":17,"averageReturn":16.7,"sample":17},{"week":18,"averageReturn":16.2,"sample":17},{"week":19,"averageReturn":18.2,"sample":17},{"week":20,"averageReturn":16.7,"sample":17},{"week":21,"averageReturn":19.9,"sample":17},{"week":22,"averageReturn":20.7,"sample":17},{"week":23,"averageReturn":21.8,"sample":16},{"week":24,"averageReturn":27.2,"sample":16},{"week":25,"averageReturn":26.8,"sample":16},{"week":26,"averageReturn":28.2,"sample":16}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":1,"completedEpisodes":0,"activeEpisodes":1,"horizons":[{"weeks":4,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-10.7,"medianReturn":-10.7,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"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,"averageReturn":-3.8,"sample":1},{"week":2,"averageReturn":-18.0,"sample":1},{"week":3,"averageReturn":-13.4,"sample":1},{"week":4,"averageReturn":-10.7,"sample":1},{"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":60.0,"averageReturn":-4.7,"sample":15},"nowContext":{"label":"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, 60.0% of comparable cases moved lower after 12 weeks, with an average move of -4.7% across 15 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, 37.5% of completed 12-week outcomes were higher across 8 cases. Distinct visits lasted 10.6 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 12.6% across 15 completed cases, with the largest move arriving after 7.2 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":"2025-02-07","price":157.099106},{"date":"2025-06-06","price":146.348038},{"date":"2025-06-20","price":149.746841},{"date":"2026-01-30","price":156.76622}],"distribution_rollovers":[{"date":"2026-07-24","price":251.0}],"price_pressure_gaps":[{"date":"2026-07-17","price":261.0}]}},"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":[150.8861,152.8846,149.8868,155.6825,150.9031,150.5034,152.702,156.0998,159.4976,142.1087,133.3144,129.9166,132.9147,126.9185,128.3176,127.9179,128.7173,127.9179,128.7173,128.7173,115.9256,122.3214,138.3112,156.8992,157.0991,149.9037,146.5059,143.5079,139.3105,138.1113,143.9076,134.9133,120.7225,116.9585,128.3544,131.5533,142.9492,142.9492,151.1463,149.7468,144.9485,146.348,143.549,149.7468,150.3466,149.9468,145.9482,141.9496,137.5512,122.9563,126.755,123.956,121.9567,119.9574,117.7582,126.9549,126.9726,129.972,138.3702,129.972,130.5719,134.9709,131.9716,133.9711,133.9711,129.972,137.7703,131.1717,129.972,131.9716,132.7714,134.371,129.972,133.1713,134.9709,156.7662,163.1648,175.9621,181.9608,177.9617,165.9642,165.5643,161.9651,168.5637,183.1605,198.0,206.0,205.0,218.0,239.0,234.0,269.0,267.0,272.0,290.0,267.0,261.0,279.0,267.0,261.0,251.0,214.0,226.0,233.0],"consensus":[-41.0743,-9.7004,-26.6937,8.3701,-27.9245,-18.7352,0.0,0.0,21.8112,-54.92,-54.8984,-51.4898,-24.1774,-48.6786,-25.6311,-25.7687,-22.751,-19.0523,0.0,-14.2503,-52.8538,0.0,46.6644,68.6464,37.1319,0.0,0.0,-14.329,-19.8083,-13.8109,15.739,-37.9607,-61.9957,-41.515,0.0,0.0,44.7716,23.6529,52.6642,22.4658,0.0,17.6772,-9.0696,34.708,24.5539,16.5371,-9.0112,-22.6897,-40.3859,-71.9727,-19.9299,-44.3073,-42.854,-37.4154,-40.9843,23.7273,-8.6656,25.0252,54.5987,-23.5468,0.0,29.4316,-19.3091,13.6424,0.0,-18.2469,39.7856,-23.2028,-18.629,0.0,0.0,15.5362,-22.6775,21.8913,20.6856,72.4633,62.0006,79.1265,67.2015,18.1086,-9.8716,10.981,-13.7267,29.8659,67.5552,70.9594,58.7923,27.3018,74.6711,79.8077,24.1715,84.5009,31.4957,53.9785,65.2416,17.7305,0.0,56.6624,8.3021,0.0,-25.4029,-67.1568,-10.38,-9.0775],"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":[-43.0631,-43.2927,-37.9081,20.8455,-16.2977,21.7819,46.8867,-29.7834,0.0,30.6026,-20.4531,10.4877,0.0,-17.2238,42.3496,-28.5588,-22.5096,0.0,0.0,16.8659,-28.2418,19.8756,25.7027,66.5234,54.5911,79.2717,60.0899,9.9846,-12.7874,18.934,-6.5619,31.4545,64.4572,72.4732,59.7764,16.6459,75.1374,82.3167,12.1803,85.7159,19.8616,55.6496,70.3111,22.1997,0.0,70.9267,21.8236,0.0,-24.5842,-55.8103,-1.03,-0.7205],"force":[-27.021,-20.953,-32.8348,73.0732,-4.9887,45.4088,86.6412,-51.9563,0.0,38.0461,-34.8087,14.1556,0.0,-27.7148,52.4681,-37.0335,-20.5441,0.0,0.0,15.1461,-36.3257,46.2424,21.0682,97.7928,69.4185,91.2806,72.3376,38.0249,-72.0254,5.7655,-40.9641,51.2864,89.5111,78.5099,46.4311,8.0415,83.5023,86.1518,18.5821,96.0848,6.8284,26.7779,44.4788,22.1707,0.0,44.8551,19.3588,0.0,-44.4734,-96.0379,-27.3401,-16.8679],"direction":[-53.9243,-42.4572,-50.321,8.2263,-2.5697,14.1722,40.5247,-3.8734,0.0,21.9402,-6.9307,16.8811,0.0,-12.6533,27.7964,-7.2026,-12.826,0.0,0.0,14.2951,-6.5697,6.8014,14.6785,61.1593,65.17,70.279,71.6605,67.4886,-37.8562,13.8536,-2.4599,12.75,55.413,63.8361,66.497,64.7252,67.8302,72.4087,68.4141,74.8381,72.1662,71.4978,74.2784,41.1236,0.0,48.7942,12.6067,0.0,-12.7167,-59.4948,-50.363,-38.8076],"intensity":[15.3846,30.7692,59.6154,71.1538,73.0769,25.0,69.2308,61.5385,36.5385,38.4615,50.0,9.6154,51.9231,69.2308,59.6154,50.0,3.8462,7.6923,9.6154,1.9231,36.5385,26.9231,28.8462,100.0,98.0769,90.3846,82.6923,28.8462,88.4615,42.3077,28.8462,75.0,96.1538,96.1538,96.1538,53.8462,88.4615,98.0769,78.8462,100.0,98.0769,82.6923,90.3846,96.1538,48.0769,88.4615,69.2308,44.2308,61.5385,100.0,96.1538,65.3846],"confirmation":[81.2276,79.3816,80.9135,33.5621,25.2113,76.6787,86.5656,54.4654,1.372,77.6628,51.9672,72.4293,24.5996,74.1431,81.0788,53.0981,73.9605,24.1648,1.1628,72.9394,52.9213,53.1114,74.5546,92.0507,88.1792,93.6887,89.7694,34.9865,35.7514,49.4457,27.9985,78.1857,90.334,90.9141,86.4218,32.204,92.1568,93.6936,33.2455,95.3748,55.878,84.4187,88.1673,31.786,5.8264,85.5548,28.4042,3.8668,76.7226,90.5433,8.3982,6.0156],"persistence":[75.0,100.0,100.0,75.0,75.0,50.0,25.0,25.0,12.5,12.5,12.5,12.5,25.0,0.0,0.0,0.0,12.5,25.0,12.5,12.5,25.0,0.0,0.0,25.0,50.0,62.5,75.0,75.0,75.0,75.0,50.0,50.0,50.0,50.0,50.0,50.0,75.0,75.0,100.0,100.0,100.0,100.0,100.0,100.0,87.5,87.5,87.5,75.0,50.0,25.0,0.0,25.0],"assessmentRisk":[28.4169,9.1693,27.4331,12.7652,41.86,35.2985,22.6079,34.3749,24.647,18.6112,34.0442,27.8783,29.5407,30.2265,21.1674,12.3615,24.6339,17.9085,38.4201,24.2558,11.3388,4.2349,16.5034,13.6363,18.9934,10.4359,16.3991,40.6463,21.8263,48.7103,42.4188,55.81,14.2977,14.4536,20.5989,36.3186,12.6476,10.0837,37.6707,7.7463,34.2185,22.7606,17.3754,16.1201,21.9104,5.7209,49.6566,17.3963,15.3889,16.3235,43.7365,41.0501],"volumeParticipation":true,"latest":{"consensus":-9.1,"control":-0.7,"force":-16.9,"direction":-38.8,"confirmation":6.0,"persistence":25.0,"assessmentRisk":41.1,"intensity":65.4,"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":"Broadly stable","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Present","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-9.1","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-0.7","detail":"Control support is limited","tone":"negative"},{"label":"SM Force Gauge","value":"-16.9","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-38.8","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"6/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"52.9","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"9.2%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"44.7","detail":"Directional","tone":"positive"},{"label":"Range position","value":"57%","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 is rotating through its trend 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