{"schema_version":"1.0","name":"MAW Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"6e22d5c5-9013-407f-b835-07ea1034c22c","symbol":"MAW","name":"Maruwa Co.,Ltd.","exchange":"LSE","country":"GB","asset_type":"equity","currency":"JPY","sector":"Technology","industry":"Electronic Components"},"summary":"Market Dynamics improved this week but 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, Acceleration, deceleration and rollover, Strength versus the research benchmark, Directional strength and control, Drawdown and recovery pressure, 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 improved this week but remains below zero. 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elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":2,"completedEpisodes":0,"activeEpisodes":2,"horizons":[{"weeks":4,"sample":2,"expectedCount":2,"expectedPercent":100.0,"averageReturn":-19.8,"medianReturn":-19.8,"confidenceLow":34.2,"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":-11.8,"sample":2},{"week":2,"averageReturn":-12.6,"sample":2},{"week":3,"averageReturn":-10.9,"sample":2},{"week":4,"averageReturn":-19.8,"sample":2},{"week":5,"averageReturn":-21.3,"sample":2},{"week":6,"averageReturn":-19.1,"sample":2},{"week":7,"averageReturn":-21.6,"sample":1},{"week":8,"averageReturn":-24.8,"sample":1},{"week":9,"averageReturn":-17.5,"sample":1},{"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":"strengthening","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":17.6,"averageReturn":14.9,"sample":17},"nowContext":{"label":"Stronger this week","detail":"Market Dynamics improved this week but 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, 17.6% of comparable cases moved lower after 12 weeks, with an average move of 14.9% across 17 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, 50.0% of completed 12-week outcomes were higher across 2 cases. Distinct visits lasted 14.5 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 6.7% across 17 completed cases, with the largest move arriving after 3.3 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":"2025-06-27","price":41592.992188}],"distribution_rollovers":[{"date":"2026-07-10","price":60020.0}],"price_pressure_gaps":[{"date":"2026-06-12","price":73930.0},{"date":"2026-07-03","price":73070.0}]}},"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":[38183.6406,38183.6406,38183.6406,38183.6406,38880.6016,38927.4531,41718.668,41718.668,40721.8047,40721.8047,40721.8047,40721.8047,40721.8047,40721.8047,40721.8047,40721.8047,40721.8047,44499.9102,44499.9102,44499.9102,44499.9102,44499.9102,44499.9102,44499.9102,44499.9102,44499.9102,44499.9102,44499.9102,44499.9102,44499.9102,44499.9102,44546.8125,44546.8125,26694.1582,26694.1582,26694.1582,26694.1582,30865.4336,30865.4336,33380.168,33380.168,33380.168,37042.5078,37042.5078,41592.9922,39926.4766,39926.4766,39926.4766,39926.4766,44317.293,45744.3047,45744.3047,45744.3047,45744.3047,45744.3047,45744.3047,45744.3047,41503.1758,41554.1328,41554.1328,38946.3867,38946.3867,43832.168,42213.5664,43612.3594,44581.5234,45710.5469,46459.8984,44951.2031,40964.6445,40964.6445,40964.6445,44511.582,47159.2969,51175.8281,47598.918,48078.5039,52534.6562,55032.5,61227.1562,61287.1016,54363.0781,56980.8203,59089.0,56920.0,64230.0,66660.0,66660.0,66660.0,66660.0,64520.0,67630.0,67630.0,73930.0,73930.0,69680.0,68570.0,73070.0,60020.0,60020.0,57940.0,57940.0,55630.0,61010.0],"consensus":[24.317,22.8049,21.2649,19.7295,72.6314,50.8836,84.4849,44.3527,0.0,38.7367,15.0407,13.5417,23.2085,21.7256,20.2438,18.7879,17.3719,80.1694,46.2512,46.8081,46.6712,34.5302,33.4891,32.11,30.4549,28.6127,26.702,24.8468,23.1432,21.6378,20.3288,42.4545,21.5453,-85.0964,-55.1428,-55.2392,-55.023,16.6986,-25.2597,27.2916,-10.2842,-8.3933,58.3123,35.6757,75.9776,11.7868,41.2621,41.1008,22.7807,78.5595,76.0671,47.0951,46.7205,44.7114,35.9224,35.1415,34.2258,-63.4625,-31.7662,-33.4631,-72.371,-44.1673,63.1907,-11.7448,34.9412,20.4122,55.8015,31.8512,-13.6526,-67.6403,-31.8501,-31.6688,49.1425,75.1359,83.8383,0.0,33.1657,79.8414,75.5008,88.8878,46.3775,9.1133,46.5528,54.0954,8.3183,77.4496,65.5124,39.5511,39.2308,35.2069,0.0,68.2127,29.537,56.4967,40.5925,8.6048,11.9514,38.3212,-53.1666,-37.5012,-71.6725,-40.323,-61.0936,-21.1372],"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":[37.4498,36.9455,36.4387,35.9239,35.3938,-57.5673,-26.937,-26.8657,-83.7887,-35.5058,57.7396,-22.2251,32.8599,9.428,69.563,10.3771,-20.7961,-63.5593,-26.8918,-25.7363,55.0651,78.0025,89.4543,0.0,22.7477,81.1415,75.2324,92.9137,42.3238,0.4591,47.8532,63.4771,23.5428,82.7889,72.0397,34.5316,33.9211,33.2611,0.0,76.6629,31.8732,57.8075,36.004,7.2394,10.9422,52.8655,-54.3037,-31.5367,-72.9959,-32.6375,-48.5619,-21.7593],"force":[10.4383,8.8335,0.0,0.0,0.0,-99.8954,-16.1898,-17.9917,-57.3351,-17.7432,98.8473,-20.94,31.3319,0.4538,40.6049,30.5667,-71.7477,-97.845,-10.3332,-10.4108,85.6789,95.9925,97.3189,0.0,23.7122,97.9242,86.0294,99.1455,12.0909,24.27,40.0859,72.1951,20.9571,87.7502,53.3641,10.137,10.3797,6.8448,0.0,84.5936,3.4602,39.7179,10.412,39.8078,8.5421,24.7547,-40.8211,-10.3695,-72.9809,-10.4389,-65.5823,-77.5628],"direction":[83.2314,79.2137,60.9912,59.3483,57.3379,-44.1766,-48.4113,-52.054,-70.0621,-72.9406,43.9515,-6.8005,39.8978,47.8699,50.9288,57.3106,-36.0078,-50.7296,-52.8858,-53.633,16.2762,56.9623,67.7911,0.0,51.8245,65.4393,68.2871,76.9599,75.5006,42.849,49.6858,30.4451,11.8299,63.99,66.7301,66.2978,65.907,57.6892,0.0,46.8547,45.4933,66.9835,67.3939,44.7458,27.7431,31.3896,-60.6851,-63.6974,-69.2255,-70.4523,-72.2092,-19.8777],"intensity":[53.8462,53.8462,53.8462,53.8462,55.7692,90.3846,88.4615,57.6923,73.0769,73.0769,96.1538,61.5385,71.1538,61.5385,53.8462,61.5385,53.8462,80.7692,75.0,44.2308,75.0,75.0,80.7692,73.0769,53.8462,92.3077,94.2308,96.1538,46.1538,96.1538,92.3077,36.5385,36.5385,96.1538,98.0769,23.0769,21.1538,23.0769,38.4615,59.6154,59.6154,94.2308,23.0769,76.9231,26.9231,84.6154,100.0,23.0769,34.6154,36.5385,44.2308,92.3077],"confirmation":[81.9861,81.3326,55.7259,55.4957,55.2247,89.5082,77.7641,78.3372,90.5265,81.4602,89.3908,50.663,79.1029,51.4935,85.1837,78.4805,36.3788,90.6276,77.6118,77.5765,84.7488,92.6354,95.1535,36.5867,78.4837,94.0805,92.4852,96.6954,81.8576,7.2083,82.68,85.7192,28.6752,93.0164,88.4943,79.8364,79.7555,55.7648,33.0318,90.1985,53.9548,85.5476,80.1397,9.7913,27.7043,79.6277,84.6197,79.2644,90.9549,80.1097,87.8777,35.3813],"persistence":[100.0,100.0,100.0,100.0,100.0,75.0,50.0,25.0,0.0,25.0,25.0,50.0,50.0,25.0,0.0,25.0,25.0,25.0,0.0,0.0,0.0,0.0,0.0,12.5,12.5,37.5,62.5,87.5,87.5,87.5,87.5,100.0,100.0,100.0,100.0,100.0,100.0,100.0,87.5,87.5,87.5,87.5,87.5,87.5,87.5,87.5,75.0,50.0,25.0,0.0,25.0,25.0],"assessmentRisk":[26.428,9.5476,17.9612,17.5707,17.1129,17.3804,33.3262,32.4778,13.7417,21.7214,9.3545,22.0303,31.5601,39.3973,8.1437,32.4326,34.8163,11.7213,33.046,33.6628,34.0587,12.0609,8.0621,50.3027,29.0917,8.6644,7.4669,5.5463,26.7977,18.7555,2.7432,55.1367,46.6338,10.7198,16.6348,28.5004,29.9981,12.2981,25.9174,20.7696,0.1254,20.0925,29.5915,24.3847,8.445,32.3004,23.1981,29.9327,13.2917,29.72,6.976,0.3559],"volumeParticipation":true,"latest":{"consensus":-21.1,"control":-21.8,"force":-77.6,"direction":-19.9,"confirmation":35.4,"persistence":25.0,"assessmentRisk":0.4,"intensity":92.3,"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":"Broadly stable","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"-21.1","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-21.8","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-77.6","detail":"Downward 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