{"schema_version":"1.0","name":"CPI Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"97a2c67e-6c88-453d-93f2-38e33985d139","symbol":"CPI","name":"Capita plc","exchange":"LSE","country":"GB","asset_type":"equity","currency":"GBP","sector":"Industrials","industry":"Specialty Business Services"},"summary":"Market Dynamics weakened this week and remains below zero. The broader path remains constructive, so one softer week does not by itself establish weakening confirmation. Price structure remains downward.","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, Strength versus the research benchmark, Drawdown and recovery pressure, Acceleration, deceleration and rollover, Directional strength and control, 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":"Aligned downward","stateTone":"negative","summary":"Market Dynamics weakened this week and remains below zero. The broader path remains constructive, so one softer week does not by itself establish weakening confirmation. Price structure remains downward.","evidenceAlignment":{"status":"Countertrend conflict","headline":"Improving Market Dynamics is challenging the downward price structure","summary":"Market Dynamics weakened this week and remains below zero. The broader path remains constructive, so one softer week does not by itself establish weakening confirmation. Price structure remains downward.","take":"This is an early challenge rather than a confirmed reversal. 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record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-0.4,"sample":16},{"week":2,"averageReturn":-1.6,"sample":16},{"week":3,"averageReturn":-2.1,"sample":16},{"week":4,"averageReturn":-1.0,"sample":16},{"week":5,"averageReturn":0.8,"sample":16},{"week":6,"averageReturn":3.8,"sample":16},{"week":7,"averageReturn":2.3,"sample":16},{"week":8,"averageReturn":-2.1,"sample":16},{"week":9,"averageReturn":-2.7,"sample":16},{"week":10,"averageReturn":-3.0,"sample":16},{"week":11,"averageReturn":-3.0,"sample":16},{"week":12,"averageReturn":-2.4,"sample":16},{"week":13,"averageReturn":-1.5,"sample":16},{"week":14,"averageReturn":-1.7,"sample":16},{"week":15,"averageReturn":-2.1,"sample":16},{"week":16,"averageReturn":-6.5,"sample":16},{"week":17,"averageReturn":-8.7,"sample":16},{"week":18,"averageReturn":-8.4,"sample":16},{"week":19,"averageReturn":-10.9,"sample":16},{"week":20,"averageReturn":-11.0,"sample":15},{"week":21,"averageReturn":-9.7,"sample":15},{"week":22,"averageReturn":-8.9,"sample":15},{"week":23,"averageReturn":-8.5,"sample":15},{"week":24,"averageReturn":-8.1,"sample":15},{"week":25,"averageReturn":-7.0,"sample":15},{"week":26,"averageReturn":-0.5,"sample":15}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":2,"completedEpisodes":2,"activeEpisodes":0,"medianExpectedMove":9.3,"averageExpectedMove":9.3,"averageWeeksToLargestMove":6.0,"horizons":[{"weeks":4,"sample":1,"expectedCount":0,"expectedPercent":0.0,"averageReturn":3.4,"medianReturn":3.4,"confidenceLow":0.0,"confidenceHigh":79.3,"confidence":"Mixed historical record"},{"weeks":12,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-8.7,"medianReturn":-8.7,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":4.3,"sample":2},{"week":2,"averageReturn":1.0,"sample":1},{"week":3,"averageReturn":2.9,"sample":1},{"week":4,"averageReturn":3.4,"sample":1},{"week":5,"averageReturn":0.1,"sample":1},{"week":6,"averageReturn":0.8,"sample":1},{"week":7,"averageReturn":-4.0,"sample":1},{"week":8,"averageReturn":-3.8,"sample":1},{"week":9,"averageReturn":-8.0,"sample":1},{"week":10,"averageReturn":-7.9,"sample":1},{"week":11,"averageReturn":-13.0,"sample":1},{"week":12,"averageReturn":-8.7,"sample":1},{"week":13,"averageReturn":-31.6,"sample":1},{"week":14,"averageReturn":-39.0,"sample":1},{"week":15,"averageReturn":-31.8,"sample":1},{"week":16,"averageReturn":-30.0,"sample":1},{"week":17,"averageReturn":-32.8,"sample":1},{"week":18,"averageReturn":-25.4,"sample":1},{"week":19,"averageReturn":-28.6,"sample":1},{"week":20,"averageReturn":-21.2,"sample":1},{"week":21,"averageReturn":-20.8,"sample":1},{"week":22,"averageReturn":-19.6,"sample":1},{"week":23,"averageReturn":-3.7,"sample":1},{"week":24,"averageReturn":1.7,"sample":1},{"week":25,"sample":0},{"week":26,"sample":0}]},"currentApplication":{"status":"Countertrend conflict","tone":"caution","headline":"Market Dynamics is repairing against a downward price structure","use":"The downside structure remains in place, but improving Market Dynamics weakens that case. A positive price response is needed to confirm the repair.","confirm":"This is an early challenge rather than a confirmed reversal. Price must respond to the improvement before the downward technical state can be considered resolved.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"weakening","zone":"accumulation","zoneContext":"Price is within accumulation conditions, but the completed tape has not yet confirmed a recovery. The zone is a watch area rather than a directional signal.","historical":{"label":"Broad directional cases","weeks":12,"sample":0},"nowContext":{"label":"Easier this week","detail":"Market Dynamics weakened this week and remains below zero."},"fourWeekContext":{"label":"Strengthened over four weeks","detail":"The broader path remains constructive, so one softer week does not by itself establish weakening confirmation."},"priceContext":{"label":"Price remains in a downward structure","detail":"Improving Market Dynamics has not yet produced a positive price response."}},"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":"Disagreement playbook","title":"Use unsupported price strength to tighten discipline","tone":"caution","finding":"Comparable disagreements produced an average pullback of 15.0% across 17 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":"2026-02-13","price":360.5},{"date":"2026-06-05","price":3.7}],"price_pressure_gaps":[{"date":"2025-12-12","price":392.0},{"date":"2026-05-22","price":377.5}]}},"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":[284.3999,271.1999,274.4999,280.1999,293.0999,299.0999,290.0999,314.2499,314.9999,285.8999,283.4999,261.2999,258.8999,259.4999,259.7999,264.5999,253.1999,215.6999,206.9999,208.4999,200.6999,211.7999,213.5999,216.2999,214.7999,203.9999,201.8999,195.8999,206.9999,208.1999,205.7999,206.9999,183.2999,183.5999,195.5999,189.2999,194.1,204.0,221.0,216.2,227.4,245.6,249.5,279.5,335.5,340.5,347.5,344.5,309.5,288.0,253.0,230.5,236.5,239.5,245.0,253.0,258.5,263.0,334.0,350.5,302.0,329.0,313.0,300.0,319.5,319.0,339.5,354.0,392.0,404.0,396.0,403.5,405.5,392.5,395.0,376.5,377.0,360.5,361.0,341.0,358.0,268.0,239.0,267.5,274.5,263.5,292.5,280.0,309.0,310.5,315.0,377.5,398.5,3.7,3.49,3.195,2.97,3.115,2.29,2.355,2.365,2.585,2.64,2.73],"consensus":[31.3493,0.0,10.9152,24.8102,35.1382,28.5759,0.0,53.5175,24.9706,-28.9469,-8.8618,-47.9663,-23.4541,-15.3268,-18.4474,0.0,-34.5191,-66.7465,-54.2169,-37.8569,-49.5141,0.0,0.0,-8.0484,-14.9368,-39.8833,-28.1478,-40.6306,0.0,0.0,-18.258,-10.8104,-57.5286,-18.907,0.0,-24.7022,0.0,25.9923,48.926,12.9823,40.9475,61.2018,32.6747,72.882,86.2438,54.041,53.5342,38.066,-19.4383,-28.9423,-55.5385,-61.6021,-20.3482,-23.238,0.0,9.4533,9.2459,12.8512,71.337,55.7963,-17.5878,55.9498,-11.9706,-19.4846,34.3735,10.8555,46.2319,45.4935,66.2191,56.6313,30.2004,45.5201,33.6492,0.0,18.5158,-26.3862,0.0,-30.456,-12.3276,-46.0973,0.0,-76.5645,-76.949,0.0,-20.3961,-43.6017,19.1569,-24.5578,31.1187,13.8651,15.3393,70.063,53.682,-64.0112,-40.1248,-47.5355,-51.7376,-34.8125,-26.524,-31.1558,-37.4851,-30.0406,-28.4247,-23.7734],"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":[-10.995,-15.5301,0.0,6.9883,5.4457,6.1737,67.1376,55.0095,-28.4156,52.1878,-12.5369,-14.6811,34.6761,17.7159,49.426,44.7337,60.8266,55.439,23.8966,45.2401,35.4692,0.0,21.6111,-26.1784,0.0,-25.4854,-3.8688,-45.4726,0.0,-71.6388,-76.8656,0.0,-6.4538,-47.4762,16.5687,-30.0999,31.4596,9.0309,12.5295,67.4729,53.6073,-69.2059,-30.0392,-42.4551,-49.8174,-36.0033,-20.1605,-30.3078,-43.346,-31.0209,-29.9669,-23.2132],"force":[-8.0897,-1.1307,0.0,27.7755,18.978,23.0208,97.0041,49.1336,-74.3112,69.7122,-40.4697,-38.5524,40.3113,2.1589,46.8692,37.7326,82.6029,50.033,0.1483,28.3979,13.4503,0.0,3.2575,-55.2744,0.0,-43.5798,-5.2425,-51.6863,0.0,-99.0528,-85.522,0.0,-11.6272,-37.7639,55.2919,-21.389,55.2802,15.1941,17.4443,94.3101,43.8799,-45.3367,-6.1786,-13.0276,-17.1902,-0.3059,-7.2779,-2.7794,-4.4605,-2.2357,-2.3639,-5.5933],"direction":[-51.3504,-47.8379,0.0,0.8169,6.6374,13.2187,57.8026,61.4544,-35.3034,50.4189,-9.0331,-11.3543,29.7863,12.3112,42.1262,51.9053,60.6792,62.707,58.8706,58.0704,45.9972,0.0,25.8772,-5.9892,0.0,-26.7625,-27.0554,-42.819,0.0,-66.1307,-70.9208,0.0,-59.204,-43.3436,3.6958,-20.4875,13.4707,18.4405,17.0468,55.7036,60.769,-71.4133,-75.8985,-77.9901,-78.6089,-58.5362,-57.9407,-56.3643,-54.376,-51.9749,-48.654,-45.3898],"intensity":[53.8462,19.2308,19.2308,36.5385,34.6154,36.5385,100.0,96.1538,92.3077,76.9231,59.6154,65.3846,69.2308,25.0,71.1538,71.1538,94.2308,75.0,26.9231,23.0769,15.3846,50.0,5.7692,61.5385,25.0,71.1538,59.6154,65.3846,50.0,100.0,98.0769,73.0769,69.2308,32.6923,73.0769,34.6154,73.0769,61.5385,28.8462,94.2308,94.2308,100.0,1.9231,1.9231,1.9231,1.9231,9.6154,1.9231,1.9231,9.6154,3.8462,5.7692],"confirmation":[30.1797,52.2132,5.4761,26.4619,25.9799,49.8574,91.6741,85.6637,37.3899,86.3807,29.2842,74.8894,79.1759,48.7665,82.7649,82.333,89.7716,85.9391,54.1776,82.0489,78.1244,6.7605,50.7462,54.6605,47.4855,78.2216,26.5245,82.931,30.0141,93.261,92.8862,13.0297,8.2437,81.7156,53.3927,75.6775,78.6891,72.551,73.0155,91.1986,84.8807,87.8353,57.2924,82.2371,83.5324,55.4502,54.4404,54.8748,56.2328,54.4247,53.9717,61.2476],"persistence":[25.0,50.0,62.5,62.5,37.5,12.5,12.5,37.5,37.5,62.5,50.0,25.0,25.0,25.0,25.0,25.0,50.0,50.0,75.0,100.0,100.0,87.5,87.5,62.5,50.0,25.0,0.0,25.0,37.5,50.0,75.0,62.5,75.0,75.0,50.0,50.0,37.5,12.5,12.5,25.0,50.0,50.0,25.0,25.0,0.0,25.0,50.0,75.0,100.0,100.0,100.0,100.0],"assessmentRisk":[39.5473,36.4554,13.7703,31.7086,32.6761,38.6281,14.2287,22.0432,53.9264,21.0206,25.4144,37.9977,12.1731,23.7234,15.1181,25.6191,16.3791,21.4794,33.1869,26.2051,11.0283,31.4603,12.5509,33.8676,45.1954,33.3097,42.7137,25.9448,45.3426,11.6406,11.5185,45.7674,39.5595,13.6994,37.8344,32.3662,24.7895,38.526,23.5161,14.5603,22.5384,17.5837,29.5843,26.118,24.0567,17.1397,12.7157,15.193,18.4657,14.7761,14.3737,12.0597],"volumeParticipation":true,"latest":{"consensus":-23.8,"control":-23.2,"force":-5.6,"direction":-45.4,"confirmation":61.2,"persistence":100.0,"assessmentRisk":12.1,"intensity":5.8,"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":"Broadly stable","forceState":"Commitment is limited","forcePath":"Broadly stable","directionState":"Downward follow-through","persistenceState":"Established","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-23.8","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-23.2","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-5.6","detail":"Commitment is limited","tone":"negative"},{"label":"SM Direction Gauge","value":"-45.4","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"61/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"25.9","detail":"Stretched negative","tone":"negative"},{"label":"Risk pressure","value":"1109.6%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"38.8","detail":"Directional","tone":"positive"},{"label":"Range position","value":"0%","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 envelope.","reason":"Selected as the anchor because price and its trend references are aligned 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