{"schema_version":"1.0","name":"PAP Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"94b9785f-2f27-4fb8-8c49-bc8a21b9cea4","symbol":"PAP","name":"Papoutsanis S.A.","exchange":"ATH","country":"GR","asset_type":"equity","currency":"EUR","sector":"Consumer Defensive","industry":"Household & Personal Products"},"summary":"Market Dynamics improved this week but remains below zero. The broader path has not changed enough to establish a new direction. 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cautious, Market Dynamics positive","kind":"disagreement","expectedDirection":"higher","episodes":22,"completedEpisodes":22,"activeEpisodes":0,"medianExpectedMove":9.1,"averageExpectedMove":9.1,"averageWeeksToLargestMove":5.9,"horizons":[{"weeks":4,"sample":22,"expectedCount":11,"expectedPercent":50.0,"averageReturn":1.2,"medianReturn":0.3,"confidenceLow":30.7,"confidenceHigh":69.3,"confidence":"Mixed historical record"},{"weeks":12,"sample":22,"expectedCount":14,"expectedPercent":63.6,"averageReturn":3.6,"medianReturn":1.9,"confidenceLow":43.0,"confidenceHigh":80.3,"confidence":"Mixed historical record"},{"weeks":26,"sample":22,"expectedCount":13,"expectedPercent":59.1,"averageReturn":8.0,"medianReturn":3.4,"confidenceLow":38.7,"confidenceHigh":76.7,"confidence":"Mixed historical 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elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":2,"completedEpisodes":2,"activeEpisodes":0,"medianExpectedMove":12.6,"averageExpectedMove":12.6,"averageWeeksToLargestMove":10.0,"horizons":[{"weeks":4,"sample":2,"expectedCount":2,"expectedPercent":100.0,"averageReturn":-8.2,"medianReturn":-8.2,"confidenceLow":34.2,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":2,"expectedCount":2,"expectedPercent":100.0,"averageReturn":-10.9,"medianReturn":-10.9,"confidenceLow":34.2,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-10.2,"medianReturn":-10.2,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-1.4,"sample":2},{"week":2,"averageReturn":-2.4,"sample":2},{"week":3,"averageReturn":-4.4,"sample":2},{"week":4,"averageReturn":-8.2,"sample":2},{"week":5,"averageReturn":-7.4,"sample":2},{"week":6,"averageReturn":-7.5,"sample":2},{"week":7,"averageReturn":-9.9,"sample":2},{"week":8,"averageReturn":-8.0,"sample":2},{"week":9,"averageReturn":-10.0,"sample":2},{"week":10,"averageReturn":-11.1,"sample":2},{"week":11,"averageReturn":-10.0,"sample":2},{"week":12,"averageReturn":-10.9,"sample":2},{"week":13,"averageReturn":-11.3,"sample":2},{"week":14,"averageReturn":-7.5,"sample":2},{"week":15,"averageReturn":-6.2,"sample":2},{"week":16,"averageReturn":-5.6,"sample":1},{"week":17,"averageReturn":-3.3,"sample":1},{"week":18,"averageReturn":-4.3,"sample":1},{"week":19,"averageReturn":-5.1,"sample":1},{"week":20,"averageReturn":-11.0,"sample":1},{"week":21,"averageReturn":-12.8,"sample":1},{"week":22,"averageReturn":-11.7,"sample":1},{"week":23,"averageReturn":-10.7,"sample":1},{"week":24,"averageReturn":-13.0,"sample":1},{"week":25,"averageReturn":-11.7,"sample":1},{"week":26,"averageReturn":-10.2,"sample":1}]},"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":36.4,"averageReturn":5.9,"sample":22},"nowContext":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeekContext":{"label":"Broadly steady over four weeks","detail":"The broader path has not changed enough to establish a new direction."},"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, 36.4% of comparable cases moved lower after 12 weeks, with an average move of 5.9% across 22 cases.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."},{"eyebrow":"Zone positioning","title":"Use distribution to protect capital before considering the short case","tone":"negative","finding":"After distribution, 100.0% of completed 12-week outcomes were lower across 2 cases. Distinct visits lasted 2.5 weeks on average before leaving the zone.","approach":"Review long exposure and define the evidence that would confirm a rollover. Short exposure should begin only after price weakens and the loss limit is known.","watch":"A sustained repair in price and Market Dynamics invalidates the downside setup."},{"eyebrow":"Disagreement playbook","title":"Use unsupported price strength to tighten discipline","tone":"caution","finding":"Comparable disagreements produced an average pullback of 3.9% across 22 completed cases, with the largest move arriving after 4.8 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":"2026-01-30","price":3.64366}],"price_pressure_gaps":[{"date":"2026-01-02","price":3.897641},{"date":"2026-05-01","price":3.77}]}},"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":[2.274,2.3022,2.1894,2.2082,2.1612,2.1706,2.1518,2.18,2.1612,2.0578,2.1518,2.1988,2.2562,2.2657,2.2371,2.2276,2.2657,2.2562,2.2562,2.3228,2.4275,2.3894,2.399,2.4466,2.3133,2.5513,2.4846,2.4751,2.418,2.4751,2.418,2.4942,2.437,2.3894,2.3894,2.4275,2.4376,2.5821,2.6014,2.5532,2.6881,2.929,2.8615,2.717,2.7652,2.7266,2.9579,2.8712,2.9001,3.006,2.9771,3.035,3.006,2.9771,2.8712,2.9868,2.9579,2.8808,2.8423,2.9208,2.8524,2.9599,2.8915,2.8622,2.9306,2.8719,2.9306,2.9403,2.9013,3.3213,3.292,3.8976,3.8293,3.7804,3.8683,3.6437,3.6632,3.6144,3.5167,3.6144,3.3994,3.4678,3.6046,3.3994,3.3994,3.6339,3.7023,3.68,3.77,3.73,3.7,3.47,3.4,3.44,3.48,3.39,3.44,3.5,3.35,3.3,3.43,3.4,3.46,3.49],"consensus":[19.2785,25.1248,-44.6633,0.0,-44.0829,-15.5851,-35.7109,0.0,-11.2748,-60.8258,20.5937,20.8893,43.2283,31.0058,0.0,0.0,28.7657,9.685,15.6687,50.884,65.1585,11.5573,31.5959,61.9396,-39.7235,70.2542,0.0,17.2325,-9.0763,23.8896,-21.5302,42.4597,-11.1816,-11.8711,-11.575,16.5033,8.2639,60.3052,34.1257,0.0,56.6223,74.7062,22.3867,0.0,34.0089,0.0,62.01,13.117,31.642,54.9103,0.0,45.6561,19.1483,0.0,-29.7132,33.9475,0.0,-23.501,-18.9193,18.0168,-35.6257,37.6503,-21.3118,-22.0291,26.7897,-30.9195,25.9674,15.973,-20.0431,71.642,32.3252,85.0109,27.2736,33.4483,60.0262,-24.1254,14.1267,0.0,-18.7948,20.9733,-38.5946,0.0,31.802,-40.6059,0.0,44.4116,37.14,17.326,48.5431,0.0,0.0,-52.0979,-47.1728,-23.1273,-19.4024,-40.7619,0.0,0.0,-25.0522,-44.4197,16.2331,-16.4287,27.3388,-22.6211],"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":[16.5827,0.0,-19.9408,47.3039,0.0,-21.3159,-13.8159,18.7584,-31.7662,34.2254,-30.3395,-17.1155,30.0196,-26.037,23.1234,18.1362,-23.5996,66.5411,28.3775,86.9074,16.0762,32.5359,62.3696,-20.6107,20.7745,0.0,-13.4231,27.6603,-33.3906,0.0,34.3769,-38.5595,0.0,49.7109,45.4633,11.9728,52.9279,0.0,0.0,-50.4013,-40.1337,-18.0094,-13.6509,-50.3855,0.0,0.0,-13.8917,-43.6913,13.7701,-9.7989,26.5469,-21.7773],"force":[5.2565,0.0,-67.3971,44.1285,0.0,-33.9218,-26.788,51.5491,-56.4463,69.6356,-37.4097,-33.478,40.6497,-53.0003,54.9868,13.7175,-30.5415,96.9485,1.6504,98.7981,18.0263,16.0763,41.3431,-92.157,6.3329,0.0,-37.1439,17.8156,-53.7536,0.0,43.6018,-54.6464,0.0,58.0027,33.59,1.0964,48.1401,0.0,0.0,-76.1975,-59.0483,-6.5026,-10.3493,-32.5625,0.0,0.0,-21.3254,-50.9755,57.5795,-18.9599,53.9835,-27.8239],"direction":[39.5124,0.0,-13.9645,11.411,0.0,-18.5548,-19.1312,6.7823,-25.1646,18.7179,-0.504,-19.4669,13.1984,-20.7276,8.4895,15.1118,-8.4797,59.3955,58.7475,72.9956,72.4278,69.8656,70.693,-20.4518,21.1433,0.0,-11.8273,15.5866,-33.7142,0.0,20.4307,-32.9156,0.0,28.6473,30.1633,35.0364,43.8196,0.0,0.0,-36.8227,-46.7351,-40.8511,-32.4421,-35.6202,0.0,0.0,-40.4691,-40.5695,10.4852,-22.1976,9.212,-19.8692],"intensity":[19.2308,17.3077,94.2308,86.5385,32.6923,69.2308,53.8462,84.6154,46.1538,65.3846,46.1538,50.0,48.0769,34.6154,67.3077,94.2308,11.5385,100.0,98.0769,100.0,98.0769,59.6154,46.1538,86.5385,65.3846,17.3077,78.8462,46.1538,92.3077,36.5385,76.9231,84.6154,86.5385,86.5385,69.2308,25.0,40.3846,75.0,53.8462,82.6923,46.1538,61.5385,36.5385,42.3077,13.4615,48.0769,90.3846,50.0,65.3846,57.6923,17.3077,7.6923],"confirmation":[51.8775,5.4121,78.8056,78.97,25.9663,75.8712,74.3718,53.5562,80.0936,81.0751,52.6137,75.4731,76.9459,78.6416,77.2373,73.0096,74.6795,91.7744,54.8027,95.5948,34.0299,35.3043,86.6033,36.8768,50.4801,4.3535,74.6554,74.5133,80.8916,28.5193,78.497,81.453,25.4033,82.5452,79.6498,50.4646,83.4547,5.7607,3.7869,85.4316,83.5645,52.3054,74.0205,80.6473,28.6923,23.8303,76.0732,82.4252,31.3957,73.4353,77.5725,75.4102],"persistence":[75.0,75.0,50.0,50.0,37.5,12.5,0.0,0.0,25.0,12.5,12.5,37.5,25.0,25.0,0.0,0.0,0.0,0.0,25.0,50.0,50.0,75.0,75.0,50.0,75.0,62.5,37.5,37.5,12.5,0.0,0.0,0.0,12.5,0.0,25.0,25.0,50.0,50.0,37.5,37.5,25.0,0.0,25.0,50.0,62.5,62.5,75.0,75.0,50.0,50.0,25.0,0.0],"assessmentRisk":[27.0251,13.582,25.2962,39.5824,21.7853,27.2211,5.7069,45.7202,27.727,20.4968,40.7933,23.0165,26.5283,26.4114,11.0724,32.7754,12.225,14.0871,33.5138,7.4888,36.3538,32.2931,19.684,29.6588,40.0007,31.1082,37.0048,17.2827,21.8865,31.0007,4.796,18.4153,2.4322,19.5818,11.7493,39.735,25.473,31.1033,0.0817,19.479,26.0003,37.5614,37.6796,9.291,14.3674,24.7124,32.0685,16.528,13.241,31.5796,27.3832,36.837],"volumeParticipation":true,"latest":{"consensus":-22.6,"control":-21.8,"force":-27.8,"direction":-19.9,"confirmation":75.4,"persistence":0.0,"assessmentRisk":36.8,"intensity":7.7,"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":"Control support is easing","forceState":"Downward commitment","forcePath":"Commitment is easing","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-22.6","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":"-27.8","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-19.9","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"75/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"52.1","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"5.1%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"14.1","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"39%","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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