{"schema_version":"1.0","name":"PPH Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"85e6ad54-aa95-43c8-9975-9768645a4241","symbol":"PPH","name":"PPHE Hotel Group Limited","exchange":"LSE","country":"GB","asset_type":"equity","currency":"GBP","sector":"Consumer Cyclical","industry":"Lodging"},"summary":"Price structure and the underlying tape currently reinforce the same downside read.","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 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aligned downward","tone":"negative","headline":"Price and Market Dynamics remain aligned downward","use":"The downside remains supported until Market Dynamics repairs or price structure changes.","confirm":"The downside state remains confirmed until Market Dynamics repairs or price structure changes.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"weakening","zone":"middle","zoneContext":"Price is between the accumulation and distribution zones. The Market Dynamics bars describe whether the current move is gaining or losing underlying support.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":42.1,"averageReturn":5.1,"sample":19},"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 structure is downward","detail":"Price is responding in the same broad direction as Market Dynamics."}},"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":"Capital protection","title":"Treat agreement on the downside as a defensive condition","tone":"negative","approach":"Reduce the burden of proof for risk control and raise it for new long exposure. A short position still needs a defined entry, exit and maximum loss.","finding":"In this ticker's completed record, 42.1% of comparable cases moved lower after 12 weeks, with an average move of 5.1% across 19 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 2 cases. Distinct visits lasted 7.0 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 improving Market Dynamics to prepare, not anticipate","tone":"recovery","finding":"Comparable disagreements produced an average recovery of 11.7% across 19 completed cases, with the largest move arriving after 7.0 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":"2026-03-13","price":1689.777588}],"price_pressure_gaps":[{"date":"2025-11-28","price":1925.746582},{"date":"2026-02-06","price":1971.740479},{"date":"2026-05-29","price":1990.0}]}},"smTape":{"available":true,"dates":["2024-08-16","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","2026-03-13","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":[1354.2504,1319.2698,1334.2614,1244.3113,1279.2919,1249.4771,1234.4834,1199.4979,1159.5146,1179.5063,1184.5041,1259.4729,1209.4937,1169.5106,1169.5106,1174.5084,1324.4456,1324.4456,1364.429,1369.4268,1414.408,1249.4771,1304.4541,1274.4666,1304.4541,1324.4456,1334.4415,1324.4456,1309.4519,1309.4519,1299.4561,1244.4791,1189.5022,1281.4636,1215.4913,1315.4493,1335.6501,1245.6737,1319.6543,1383.6375,1419.6281,1495.6082,1557.5918,1501.6066,1565.5898,1593.5824,1639.5704,1597.5814,1561.5908,1647.5682,1607.5787,1727.5474,1705.5531,1693.5563,1285.6632,1351.6458,1379.6385,1315.8268,1325.8254,1327.8252,1301.8286,1329.825,1377.8186,1431.8115,1487.8042,1743.7705,1779.7657,1925.7466,1811.7615,1759.7683,1751.7694,1761.7681,1757.7687,1801.7628,1823.76,1825.7596,1785.7649,1971.7405,1999.7368,1967.741,1999.7368,1689.7776,1671.7799,1603.7889,1595.7899,1695.7769,1749.7697,1610.0,1500.0,1562.0,1580.0,1562.0,1990.0,1962.0,2015.0,1684.0,1654.0,1602.0,1622.0,1580.0,1538.0,1570.0,1526.0,1528.0],"consensus":[0.0,-48.4722,0.0,-68.7595,0.0,-50.9262,-50.158,-52.307,-65.3313,-13.7336,-19.2535,41.0792,-35.374,-40.7224,-19.9376,-24.1888,62.1932,36.8726,68.3948,41.3204,57.8455,-49.9856,21.0229,-24.0659,10.7487,22.4357,21.0146,11.1055,0.0,0.0,0.0,-50.9607,-60.3454,26.66,-47.041,45.9806,33.8763,-44.6408,40.3116,49.468,49.1556,65.2694,69.0777,0.0,64.1423,52.8847,56.8007,13.0415,0.0,61.3636,0.0,66.1905,23.1477,24.1153,-71.5112,-8.2141,-25.0622,-61.6026,-11.8899,-29.397,-49.5355,0.0,17.7826,32.6752,39.8562,75.1493,46.5224,74.1703,0.0,0.0,20.3123,9.9092,0.0,31.9098,33.3134,33.2516,0.0,67.5893,50.4868,14.0757,41.8771,-55.3727,-35.5856,-53.8062,-37.2126,14.2313,21.8705,-47.3086,-58.1223,0.0,-19.7911,-23.685,65.3569,21.7214,30.4784,-32.8337,-31.1605,-40.1136,-23.545,-37.01,-39.3826,-13.7883,-47.8319,-20.5043],"supportDates":["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","2026-03-13","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":[14.7755,24.2457,-62.6924,-1.6662,-22.6532,-52.9849,-13.0233,-33.2415,-56.2126,0.0,18.7802,32.9209,38.2705,71.6333,39.4269,78.6828,0.0,0.0,27.3286,18.9085,0.0,33.6819,34.4955,35.895,0.0,70.5381,54.2998,0.9389,37.8269,-54.1297,-27.882,-51.4265,-32.4828,20.1889,24.2519,-53.8685,-61.3125,0.0,-11.5635,-20.181,55.6023,10.0914,19.2829,-39.4007,-29.9378,-42.3827,-17.3038,-36.3104,-38.4546,-17.9389,-48.284,-19.3871],"force":[8.3185,0.7821,-99.7042,-52.6678,-14.0503,-75.8664,-18.6226,-5.5925,-34.3649,0.0,49.4906,49.784,43.6667,97.9271,32.5879,72.3921,0.0,0.0,1.5773,9.3704,0.0,19.5082,17.1916,20.0381,0.0,77.1073,33.3891,17.662,30.3958,-67.4424,-26.406,-52.5561,-15.4282,50.5297,40.0154,-60.1916,-60.1344,0.0,-0.4363,-14.6593,95.2746,6.7773,8.6553,-67.448,-24.4942,-30.2596,-9.2125,-36.1174,-34.6135,-13.5184,-55.8806,-2.6149],"direction":[55.1916,41.7501,-61.452,-59.1844,-55.7529,-61.2629,-32.3892,-42.0063,-52.7406,0.0,6.0062,20.1739,38.9465,62.8976,64.5848,70.2831,0.0,0.0,27.9292,13.3954,0.0,38.7428,43.4781,39.6688,0.0,57.4206,58.3419,51.7591,54.7069,-48.172,-50.9467,-57.4188,-58.1783,18.5049,6.1882,-30.6094,-53.0392,0.0,-43.6422,-34.1365,55.1353,55.3691,58.861,-0.604,-37.3195,-44.5587,-40.9154,-38.4471,-43.8496,-28.5496,-41.5662,-34.5591],"intensity":[90.3846,34.6154,100.0,98.0769,73.0769,55.7692,48.0769,21.1538,21.1538,13.4615,32.6923,50.0,59.6154,96.1538,94.2308,88.4615,82.6923,88.4615,34.6154,25.0,5.7692,30.7692,11.5385,9.6154,23.0769,92.3077,86.5385,63.4615,19.2308,96.1538,40.3846,51.9231,78.8462,75.0,57.6923,84.6154,80.7692,57.6923,69.2308,40.3846,100.0,96.1538,51.9231,98.0769,76.9231,28.8462,5.7692,21.1538,42.3077,11.5385,26.9231,13.4615],"confirmation":[31.0171,52.4563,91.8772,12.1086,32.5287,88.2788,29.4971,53.9563,83.2873,6.3971,53.2562,78.9737,80.8943,92.7955,82.5706,91.6115,35.8821,7.2246,51.3957,27.1119,4.1067,77.8062,78.151,78.1975,30.243,89.8737,83.5766,7.5051,81.1125,86.106,79.225,85.2161,79.3162,32.1838,52.8486,83.4314,86.6118,32.361,51.2685,75.3575,89.9746,53.0387,77.2586,56.795,77.7868,80.5015,75.1927,79.8267,80.4712,29.0674,83.5446,59.3665],"persistence":[75.0,75.0,50.0,25.0,12.5,12.5,25.0,50.0,75.0,87.5,62.5,37.5,12.5,12.5,37.5,62.5,75.0,75.0,75.0,75.0,62.5,62.5,62.5,62.5,62.5,75.0,75.0,75.0,87.5,62.5,37.5,12.5,0.0,0.0,0.0,25.0,50.0,37.5,37.5,37.5,12.5,12.5,12.5,12.5,12.5,25.0,25.0,25.0,50.0,75.0,100.0,100.0],"assessmentRisk":[37.8727,21.6549,13.6616,45.6437,36.9191,18.9702,21.6154,5.1014,3.3205,9.2069,11.3554,18.1902,25.9473,12.1674,26.4299,12.9146,47.222,5.5512,25.655,52.6673,28.778,6.7191,17.5731,14.8514,18.6301,13.1949,23.8571,40.645,28.9066,21.8853,32.0379,23.0051,31.3517,4.3465,19.8543,26.375,4.7499,38.2477,36.4155,9.9395,17.1003,38.4641,34.6111,47.9787,32.8185,28.7237,37.4642,9.9733,11.7444,3.3372,3.7904,6.0507],"volumeParticipation":true,"latest":{"consensus":-20.5,"control":-19.4,"force":-2.6,"direction":-34.6,"confirmation":59.4,"persistence":100.0,"assessmentRisk":6.1,"intensity":13.5,"evidenceDepth":100},"analysis":{"status":"Joint 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 easing","forceState":"Commitment is limited","forcePath":"Commitment is easing","directionState":"Downward follow-through","persistenceState":"Established","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-20.5","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-19.4","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-2.6","detail":"Commitment is limited","tone":"negative"},{"label":"SM Direction Gauge","value":"-34.6","detail":"Downward 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leadership","title":"Strength versus the research benchmark","description":"Relative performance is separated from absolute price direction to reveal leadership and lagging pressure.","reason":"Selected because benchmark-relative leadership is strengthening, fading or diverging from price.","series":[{"label":"Relative 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