{"schema_version":"1.0","name":"ZENA-SDR Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"6e854c93-823f-471d-a561-4aedff088bfc","symbol":"ZENA-SDR","name":"Zenith Energy Ltd. SDR","exchange":"STO","country":"SE","asset_type":"equity","currency":"SEK","sector":"Energy","industry":"Oil & Gas E&P"},"summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price has not yet established a clear direction.","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, Drawdown and recovery pressure, Activity pressure and cumulative balance, Range position and boundary pressure, Acceleration, deceleration and rollover, Directional strength and control."},{"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":45,"displayedObservations":45,"assetType":"Equity","state":"Rotational","stateTone":"caution","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price has not yet established a clear direction.","evidenceAlignment":{"status":"Repair in progress","headline":"Market Dynamics is improving while price remains rotational","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price has not yet established a clear direction.","take":"Treat the repair as constructive context until price confirms it.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"values":[0.264375,0.343805,0.295044,0.130528,0.00536,-0.225673,-0.431603,-0.521779,-0.651302,-0.666153,-0.820683,-1.109753,-1.157124,-1.165307,-1.160315,-1.14694,-0.898466],"opens":[1.2,1.035,0.85,0.766,0.74,0.778,0.714,0.664,0.68,0.63,0.594,0.586,0.554,0.572,0.52,0.5,0.532],"highs":[1.21,1.15,0.85,0.88,0.836,0.85,0.766,0.698,0.694,0.63,0.598,0.606,0.604,0.572,0.54,0.534,0.728],"lows":[1.0,0.802,0.622,0.65,0.642,0.688,0.572,0.59,0.61,0.524,0.564,0.566,0.506,0.497,0.49,0.49,0.526],"closes":[1.035,0.882,0.766,0.74,0.778,0.714,0.664,0.68,0.65,0.568,0.584,0.6,0.572,0.546,0.51,0.51,0.618],"hoverRows":[[{"label":"Open","value":"1.20","className":"is-ohlc","compact":true},{"label":"High","value":"1.21","className":"is-ohlc","compact":true},{"label":"Low","value":"1.00","className":"is-ohlc","compact":true},{"label":"Close","value":"1.03","className":"is-ohlc","compact":true},{"label":"Market 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repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[0.4785,1.0665],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.898466,"state":"Negative but repairing over four weeks","context":{"scenario":"negativeRepair","latestDirection":"strengthening","fourWeekDirection":"strengthening","now":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeek":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"price":{"label":"Price and Market Dynamics are broadly aligned","detail":"The current price response is broadly consistent with the underlying Market Dynamics path."}},"diagnosis":{"label":"Underlying pressure is repairing","detail":"Market Dynamics remains below zero, but it has improved across the recent completed path. This is an early repair watch until price confirms it.","tone":"caution"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Market Dynamics remains below zero, but it has improved across the recent completed path. This is an early repair watch until price confirms it.","annotations":[{"label":"Current tape relationship","value":"Underlying pressure is repairing","detail":"Market Dynamics improved this week but remains below zero.","tone":"caution"},{"label":"Price location","value":"Between zones","detail":"Price is travelling between the two major positioning zones.","tone":"neutral"},{"label":"Latest positioning marker","value":"None in view","detail":"Entering the lower zone alone does not create a positioning confirmation.","tone":"neutral"},{"label":"Market Dynamics confirmation","value":"Repairing","detail":"Underlying support has strengthened across the recent completed path.","tone":"positive"}],"relationshipEvidence":{"available":false,"observations":17,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"close":[0.405,0.38,0.368,0.369,0.318,0.4,0.58,0.506,0.49,0.465,0.436,0.412,0.428,0.457,0.411,0.416,0.447,0.451,0.44,0.434,0.426,0.5,0.72,1.355,1.28,1.17,1.265,1.19,1.035,0.882,0.766,0.74,0.778,0.714,0.664,0.68,0.65,0.568,0.584,0.6,0.572,0.546,0.51,0.51,0.618],"consensus":[40.0,-40.625,-20.0,23.2,-76.3127,32.7055,68.35,12.85,24.1168,10.5055,-27.1346,-29.0389,0.0,12.133,-27.3277,0.0,14.839,0.0,0.0,0.0,0.0,45.5207,65.7749,75.3462,25.1497,19.4303,56.8873,0.0,-23.0695,-34.778,-34.9616,-25.1731,0.0,-31.642,-24.281,0.0,-23.5997,-35.9515,-18.0764,-9.0957,-18.0698,-18.8014,-29.2509,-23.2842,-22.6248],"supportDates":["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","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"control":[null,null,null,null,null,33.7074,64.2253,2.6249,10.567,1.219,-20.3298,-22.0692,0.0,14.9302,-29.2677,0.0,14.7018,0.0,0.0,0.0,0.0,41.033,56.7356,67.9293,21.7483,10.5218,45.0801,0.0,-15.0596,-25.2024,-22.407,-19.0248,0.0,-31.9278,-23.6555,0.0,-21.3976,-35.9632,-14.441,-0.5398,-13.432,-18.2821,-30.7642,-20.963,-17.2822],"force":[40.0,-40.625,-20.0,23.2,-47.2305,38.3049,56.0503,39.1679,1.9578,4.873,-37.6104,-30.7823,0.0,13.4911,-36.1122,0.0,23.7738,0.0,0.0,0.0,0.0,78.1999,87.9765,90.5273,33.0794,32.1019,64.714,0.0,-78.0763,-76.1395,-56.7129,-19.6322,0.0,-31.4358,-15.0491,0.0,-13.0657,-27.3925,-0.1888,-7.5467,-3.4784,-4.3297,-14.0465,-5.5744,-63.2662],"direction":[null,null,null,null,-97.0857,27.561,81.8496,67.6913,58.227,34.8895,-27.4288,-35.7589,0.0,7.9662,-18.8358,0.0,8.6138,0.0,0.0,0.0,0.0,27.3071,60.2471,72.9789,70.6293,66.4203,64.7909,0.0,-7.0668,-16.1776,-33.773,-36.1576,0.0,-31.4628,-31.5902,0.0,-33.6406,-42.0518,-35.0082,-31.9951,-33.7925,-29.7319,-38.3818,-38.587,-0.2988],"intensity":[null,null,null,null,100.0,100.0,100.0,71.4286,12.5,77.7778,60.0,18.1818,50.0,69.2308,42.8571,93.3333,93.75,52.9412,61.1111,31.5789,5.0,71.4286,100.0,100.0,91.6667,84.0,88.4615,77.7778,78.5714,86.2069,90.0,22.5806,28.125,42.4242,70.5882,48.5714,22.2222,62.1622,23.6842,2.5641,42.5,24.3902,26.1905,2.3256,86.3636],"confirmation":[35.4667,35.6667,29.0667,30.0907,68.4239,78.6212,89.56,11.6783,52.8802,27.038,77.106,77.4518,25.6316,49.2147,76.983,24.5214,73.0229,47.7088,48.1628,0.7574,25.1087,83.6309,89.8623,92.6865,36.0488,34.298,86.6224,31.1621,56.0216,80.5354,80.0419,75.9802,4.4543,78.1148,75.4981,3.739,75.2644,79.2435,50.628,26.942,50.7416,50.9167,76.8739,52.2799,53.957],"persistence":[null,null,33.3333,0.0,20.0,0.0,14.2857,25.0,25.0,50.0,50.0,25.0,37.5,37.5,12.5,0.0,0.0,12.5,0.0,12.5,12.5,12.5,37.5,50.0,50.0,62.5,75.0,75.0,62.5,37.5,12.5,12.5,25.0,50.0,75.0,75.0,75.0,75.0,75.0,75.0,87.5,87.5,87.5,100.0,75.0],"assessmentRisk":[null,null,null,null,11.8319,4.5451,15.3622,40.2223,36.8128,30.2151,34.7855,29.6454,34.6231,12.4086,5.005,2.6092,7.0053,8.5431,24.9094,28.3446,33.4288,23.4447,17.0947,12.3243,37.4185,40.2181,21.2952,37.9707,31.1298,27.2598,31.7678,36.1991,39.4335,17.8403,10.7763,11.2511,35.5995,30.4287,31.3916,38.4747,33.5908,10.1145,32.5652,37.8761,25.9521],"volumeParticipation":true,"latest":{"consensus":-22.6,"control":-17.3,"force":-63.3,"direction":-0.3,"confirmation":54.0,"persistence":75.0,"assessmentRisk":26.0,"intensity":86.4,"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":"Seller control supports the view","controlPath":"Broadly stable","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Follow-through is limited","persistenceState":"Established","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"-22.6","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-17.3","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-63.3","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-0.3","detail":"Follow-through is limited","tone":"negative"},{"label":"SM Confirmation Gauge","value":"54/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"47.0","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"26.1%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"15.8","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"17%","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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tape.","series":[{"label":"Drawdown","values":[0.0,-6.1728,-9.1358,-8.8889,-21.4815,-1.2346,0.0,-12.7586,-15.5172,-19.8276,-24.8276,-28.9655,-26.2069,-21.2069,-29.1379,-28.2759,-22.931,-22.2414,-24.1379,-25.1724,-26.5517,-13.7931,0.0,0.0,-5.5351,-13.6531,-6.6421,-12.1771,-23.6162,-34.9077,-43.4686,-45.3875,-42.583,-47.3063,-50.9963,-49.8155,-52.0295,-58.0812,-56.9004,-55.7196,-57.786,-59.7048,-62.3616,-62.3616,-54.3911],"stroke":"#c13f3f","width":1.9,"fill":"rgba(193,63,63,.10)"},{"label":"Recovery","values":[null,null,null,null,null,null,null,59.1195,54.0881,46.2264,37.1069,29.5597,34.5912,43.7107,29.2453,30.8176,40.566,41.8239,38.3648,36.478,33.9623,57.2327,126.4151,326.1006,302.5157,267.9245,297.7987,274.2138,225.4717,177.3585,91.5,80.0487,89.2944,73.7226,61.5572,65.4501,58.1509,38.1995,42.0925,45.9854,37.5,28.169,19.7183,19.7183,45.0704],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Prior 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}