{"schema_version":"1.0","name":"544A Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"96d388ba-4c1b-4f6d-b8f9-b4280eba66e9","symbol":"544A","name":"GMS GROUP CO LTD","exchange":"JPX","country":"JP","asset_type":"equity","currency":"JPY","sector":"Industrials","industry":"Specialty Industrial Machinery"},"summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","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, Completed returns and cumulative progression, Range expansion and closing direction, Activity pressure and cumulative balance, Acceleration, deceleration and rollover, 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":"2026-08-21","observations":21,"displayedObservations":21,"assetType":"Equity","state":"Rotational","stateTone":"caution","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","evidenceAlignment":{"status":"Evidence developing","headline":"Price structure is visible; Market Dynamics is not yet established","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","take":"Treat movement through the zones as price-location context only. Reaching the upper zone shows extension, but without an established Market Dynamics read it does not by itself establish active distribution, divergence or reversal risk.","tone":"neutral","conflict":false},"marketDynamics":{"available":true,"readAvailable":false,"dates":["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","2026-08-21"],"values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"opens":[417.0,421.0,412.0,411.0,395.0,390.0,393.0,380.0,364.0,375.0,353.0,373.0,360.0,359.0,360.0,359.0,358.0,360.0,357.0,360.0,350.0],"highs":[429.0,423.0,420.0,411.0,396.0,403.0,396.0,389.0,375.0,388.0,357.0,375.0,361.0,362.0,362.0,361.0,361.0,362.0,361.0,361.0,377.0],"lows":[404.0,407.0,406.0,391.0,378.0,384.0,379.0,360.0,353.0,368.0,351.0,368.0,356.0,357.0,357.0,356.0,358.0,355.0,354.0,325.0,349.0],"closes":[429.0,409.0,411.0,395.0,390.0,394.0,380.0,364.0,365.0,375.0,351.0,375.0,359.0,357.0,360.0,358.0,360.0,357.0,361.0,349.0,365.0],"hoverRows":[[{"label":"Open","value":"417.0","className":"is-ohlc","compact":true},{"label":"High","value":"429.0","className":"is-ohlc","compact":true},{"label":"Low","value":"404.0","className":"is-ohlc","compact":true},{"label":"Close","value":"429.0","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[344.2,433.8],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"state":"Insufficient history","context":{"scenario":"developing","latestDirection":"steady","fourWeekDirection":"steady","now":{"label":"Little changed this week","detail":"Market Dynamics remains positive and was little changed this week."},"fourWeek":{"label":"Broadly steady over four weeks","detail":"The broader path has not changed enough to establish a new direction."},"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":"Zone progression","detail":"Price is travelling between the lower accumulation area and the upper positioning zone. Market Dynamics history is not yet sufficient to confirm or challenge that progression.","tone":"neutral"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price is travelling between the lower accumulation area and the upper positioning zone. Market Dynamics history is not yet sufficient to confirm or challenge that progression.","annotations":[{"label":"Current tape relationship","value":"Zone progression","detail":"Market Dynamics remains positive and was little changed this week.","tone":"neutral"},{"label":"Price location","value":"Between zones","detail":"Price is progressing between the lower and upper positioning zones while the Market Dynamics read develops.","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":"Unavailable","detail":"Too little usable Market Dynamics history is available for a directional confirmation read.","tone":"neutral"}],"relationshipEvidence":{"available":false,"observations":21,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-04-03","price":429.0}],"reversal_dangers":[{"date":"2026-04-10","price":409.0}]}},"smTape":{"available":true,"dates":["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","2026-08-21"],"close":[429.0,409.0,411.0,395.0,390.0,394.0,380.0,364.0,365.0,375.0,351.0,375.0,359.0,357.0,360.0,358.0,360.0,357.0,361.0,349.0,365.0],"consensus":[100.0,-75.0,-28.5714,-34.8,-55.3278,-21.3779,-56.348,-66.3809,-33.3054,-17.3257,-63.3241,16.7975,-33.6854,-44.1168,-8.6693,-32.2327,0.0,-26.7758,9.4483,-40.6542,29.7799],"supportDates":["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","2026-08-21"],"control":[null,null,null,null,null,-13.3897,-60.6685,-61.7513,-24.9407,-14.8582,-70.4987,23.0914,-34.6993,-48.2842,-13.7501,-28.1007,0.0,-32.9067,12.7402,-32.3475,24.2156],"force":[100.0,-75.0,-28.5714,-34.8,-13.4564,-0.8179,-38.7939,-69.8743,-3.9946,-23.0803,-45.3842,41.0876,-19.3944,-23.8533,-13.8353,-14.8557,0.0,-25.5559,33.1719,-63.4301,70.9611],"direction":[null,null,null,null,-85.2359,-46.3613,-63.9489,-69.1766,-63.8014,-49.0071,-67.9389,7.7456,-42.7346,-53.8279,-18.9372,-49.3672,0.0,-20.6404,11.2593,-33.8789,6.724],"intensity":[null,null,null,null,50.0,40.0,50.0,85.7143,50.0,66.6667,100.0,90.9091,66.6667,7.6923,21.4286,13.3333,18.75,35.2941,38.8889,94.7368,90.0],"confirmation":[54.6667,46.6667,31.8095,33.8027,61.1241,51.794,85.4305,89.4189,55.2253,31.9409,87.6077,53.0053,78.3284,81.4363,27.6291,77.8479,4.5439,76.4376,28.765,81.83,55.0],"persistence":[null,null,33.3333,50.0,60.0,66.6667,71.4286,75.0,100.0,100.0,100.0,75.0,75.0,75.0,75.0,75.0,62.5,62.5,37.5,62.5,37.5],"assessmentRisk":[null,null,null,null,22.323,35.1679,21.7162,16.7183,32.972,39.0128,17.8147,24.4786,3.7491,21.796,34.8608,27.5961,6.5064,13.3879,0.6226,11.3763,4.4374],"volumeParticipation":true,"latest":{"consensus":29.8,"control":24.2,"force":71.0,"direction":6.7,"confirmation":55.0,"persistence":37.5,"assessmentRisk":4.4,"intensity":90.0,"evidenceDepth":81},"analysis":{"status":"Completed tape has stronger support","headline":"The gauges support the upward view","summary":"The completed evidence gives the upward view the clearer support.","take":"Current assessment: upward pressure has the stronger support.","tone":"positive","supportedView":"Completed tape","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Control support is strengthening","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Follow-through is limited","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+29.8","detail":"Completed tape has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+24.2","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+71.0","detail":"Upward 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