{"schema_version":"1.0","name":"VESTL Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"9810a35c-2e42-4f7d-96bb-dcab681d4af6","symbol":"VESTL","name":"Vestel Elektronik Sanayi ve Ticaret Anonim Sirketi","exchange":"IST","country":"TR","asset_type":"equity","currency":"TRY","sector":"Consumer Cyclical","industry":"Furnishings, Fixtures & Appliances"},"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 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record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-1.3,"sample":16},{"week":2,"averageReturn":-0.4,"sample":16},{"week":3,"averageReturn":-1.6,"sample":16},{"week":4,"averageReturn":-4.7,"sample":16},{"week":5,"averageReturn":-5.2,"sample":16},{"week":6,"averageReturn":-4.4,"sample":16},{"week":7,"averageReturn":-5.3,"sample":16},{"week":8,"averageReturn":-3.7,"sample":16},{"week":9,"averageReturn":-6.9,"sample":16},{"week":10,"averageReturn":-9.6,"sample":16},{"week":11,"averageReturn":-10.5,"sample":16},{"week":12,"averageReturn":-10.9,"sample":16},{"week":13,"averageReturn":-13.2,"sample":16},{"week":14,"averageReturn":-12.6,"sample":15},{"week":15,"averageReturn":-11.7,"sample":15},{"week":16,"averageReturn":-10.9,"sample":14},{"week":17,"averageReturn":-11.3,"sample":14},{"week":18,"averageReturn":-9.3,"sample":14},{"week":19,"averageReturn":-10.3,"sample":14},{"week":20,"averageReturn":-8.5,"sample":14},{"week":21,"averageReturn":-7.1,"sample":14},{"week":22,"averageReturn":-5.2,"sample":14},{"week":23,"averageReturn":-6.5,"sample":14},{"week":24,"averageReturn":-5.6,"sample":14},{"week":25,"averageReturn":-2.4,"sample":14},{"week":26,"averageReturn":2.2,"sample":13}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":0,"completedEpisodes":0,"activeEpisodes":0,"horizons":[{"weeks":4,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":12,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"sample":0},{"week":2,"sample":0},{"week":3,"sample":0},{"week":4,"sample":0},{"week":5,"sample":0},{"week":6,"sample":0},{"week":7,"sample":0},{"week":8,"sample":0},{"week":9,"sample":0},{"week":10,"sample":0},{"week":11,"sample":0},{"week":12,"sample":0},{"week":13,"sample":0},{"week":14,"sample":0},{"week":15,"sample":0},{"week":16,"sample":0},{"week":17,"sample":0},{"week":18,"sample":0},{"week":19,"sample":0},{"week":20,"sample":0},{"week":21,"sample":0},{"week":22,"sample":0},{"week":23,"sample":0},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]},"currentApplication":{"status":"Evidence 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":"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,"direction":"lower","percent":64.3,"averageReturn":-3.4,"sample":14},"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, 64.3% of comparable cases moved lower after 12 weeks, with an average move of -3.4% across 14 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, 0.0% of completed 12-week outcomes were higher across 4 cases. Distinct visits lasted 1.3 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 10.1% across 16 completed cases, with the largest move arriving after 3.8 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":[{"date":"2026-03-20","price":29.02},{"date":"2026-04-03","price":29.08},{"date":"2026-04-17","price":30.08}],"distribution_rollovers":[],"price_pressure_gaps":[]}},"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":[67.7,66.05,65.5,64.0,65.9,66.25,61.7,57.65,59.3,58.75,57.05,59.4,59.95,60.9,63.85,71.1,71.15,66.9,69.75,71.4,70.8,65.35,65.8,61.35,60.3,60.6,57.25,55.95,61.4,59.95,46.76,48.92,47.6,47.0,45.5,44.54,41.1,41.5,41.8,38.74,33.12,34.8,32.76,32.44,32.86,36.5,37.3,37.26,38.38,39.7,38.58,39.08,40.0,42.3,37.86,36.92,39.3,38.04,35.42,33.46,32.18,33.3,33.32,33.3,29.88,30.84,32.1,32.46,32.64,31.0,29.64,29.42,29.1,30.2,30.5,31.4,30.86,32.5,30.22,30.18,27.98,28.28,29.02,28.44,29.08,28.28,30.08,28.74,27.8,28.62,28.0,26.2,26.36,25.54,24.46,24.3,26.04,24.92,26.42,24.8,24.42,22.46,22.76,22.24],"consensus":[-44.6784,-40.2088,-38.2171,-28.9529,-11.8178,-19.9337,-49.6522,-58.2779,-19.8359,-29.5896,-45.1558,0.0,0.0,0.0,30.2343,62.5043,22.9672,-10.5953,42.4425,29.9676,10.7925,-32.7394,0.0,-46.7288,-28.4871,-25.5339,-54.6455,-47.0911,28.7463,-17.9233,-74.4937,-19.0709,-48.7938,-39.6803,-44.6479,-41.5329,-60.6019,-28.7877,-33.6561,-62.3874,-77.6375,-17.3177,-53.2234,-43.6313,-23.1643,18.7145,10.0617,0.0,14.0386,31.3863,-14.1041,18.6277,26.7421,42.3007,-40.0995,-20.5845,23.8662,-27.0062,-51.0155,-49.0604,-40.0998,-8.2905,-18.3384,-20.3585,-60.3809,-10.0044,0.0,-10.5509,0.0,-32.7874,-46.3094,-23.3724,-33.3208,0.0,0.0,18.67,0.0,35.451,-33.3461,-14.2692,-43.7568,-18.0762,0.0,-22.3292,0.0,-21.4188,34.8043,-20.9759,-32.2093,9.3971,-28.6293,-42.7383,-20.6964,-44.6972,-40.7617,-44.2792,17.8446,-34.0372,30.744,-41.8986,-32.8953,-60.6345,-29.4716,-39.5909],"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":[21.5982,29.2399,-42.9384,-22.3456,25.402,-28.0552,-53.4276,-54.7701,-37.6389,-1.4399,-15.5676,-27.8709,-65.7569,-0.5319,0.0,-12.3067,0.0,-40.9015,-55.5122,-17.8343,-33.513,0.0,0.0,11.9335,0.0,32.8665,-38.5603,-14.0473,-38.106,-11.7607,0.0,-21.4376,0.0,-25.2012,35.5608,-27.6042,-36.6663,8.47,-25.86,-40.3684,-20.7474,-52.4739,-41.8269,-53.5631,26.4747,-43.5183,31.5984,-47.6146,-33.3596,-55.725,-27.8904,-39.1251],"force":[36.1366,62.9025,-82.8796,-20.2873,45.199,-40.6103,-78.2668,-52.2193,-32.0802,-21.9023,-2.3524,-7.9841,-72.8481,-19.0717,0.0,-0.5714,0.0,-40.3456,-40.8969,-7.0187,-19.9139,0.0,0.0,32.0011,0.0,43.7541,-57.0545,-12.6785,-59.0727,-0.0906,0.0,-18.1556,0.0,-26.5777,59.969,-33.2321,-35.7906,27.206,-39.3766,-50.898,-3.7597,-32.5903,-25.2258,-26.9953,50.5934,-26.3816,53.7636,-69.5628,-29.853,-85.3135,-5.7324,-28.8305],"direction":[25.9105,42.5116,-6.2977,-18.7841,6.8733,-16.0901,-28.7937,-40.2788,-48.6405,-40.9772,-32.9236,-20.6118,-45.3316,-41.5987,0.0,-16.4888,0.0,-18.1154,-39.658,-41.383,-42.6776,0.0,0.0,16.8466,0.0,32.4739,-10.4526,-15.659,-39.275,-38.2701,0.0,-26.3294,0.0,-13.4109,15.9649,-4.6463,-24.5575,2.2641,-24.1175,-39.6185,-32.7356,-44.4573,-50.6415,-46.0147,15.4104,-28.6699,13.3249,-15.6061,-34.5377,-48.6176,-48.2352,-47.8091],"intensity":[11.5385,82.6923,73.0769,78.8462,44.2308,23.0769,53.8462,44.2308,46.1538,9.6154,7.6923,11.5385,65.3846,53.8462,84.6154,59.6154,17.3077,40.3846,38.4615,19.2308,1.9231,11.5385,3.8462,28.8462,28.8462,38.4615,57.6923,9.6154,78.8462,1.9231,36.5385,11.5385,9.6154,25.0,51.9231,40.3846,15.3846,13.4615,53.8462,82.6923,46.1538,13.4615,51.9231,5.7692,61.5385,34.6154,57.6923,59.6154,11.5385,71.1538,80.7692,9.6154],"confirmation":[76.9222,82.3631,59.4257,74.5511,53.5973,77.0406,85.1187,83.7086,80.625,6.8607,50.7566,51.3565,87.6199,6.5282,29.0893,48.4658,25.3345,78.5987,82.5138,52.3985,78.2511,29.3285,24.9506,74.4833,26.7683,79.6367,79.3138,72.521,82.5551,50.6796,25.8074,75.0317,25.2514,74.9536,79.8928,52.3181,78.3482,49.3803,77.5311,81.9611,51.4392,81.8156,80.554,81.5011,32.531,78.5141,78.5266,82.1636,78.4267,88.23,54.0649,88.3482],"persistence":[62.5,62.5,37.5,25.0,25.0,0.0,0.0,25.0,50.0,75.0,75.0,75.0,100.0,100.0,87.5,87.5,75.0,75.0,75.0,75.0,75.0,62.5,62.5,37.5,37.5,12.5,12.5,12.5,12.5,25.0,25.0,50.0,50.0,75.0,50.0,50.0,50.0,25.0,37.5,37.5,50.0,50.0,75.0,75.0,50.0,75.0,50.0,50.0,50.0,50.0,50.0,50.0],"assessmentRisk":[18.8938,26.4993,2.1385,30.971,29.4924,35.1983,17.559,22.8076,29.8856,45.1087,31.155,5.9223,10.5567,36.9726,25.3875,18.6379,48.7169,21.9277,23.6437,37.2976,32.9854,30.404,27.9942,36.4535,47.0303,31.4607,4.5661,33.6048,27.3475,40.8782,35.0997,34.6173,34.3039,10.7094,17.7323,22.1691,22.6472,8.379,32.9926,27.638,32.7212,27.4657,29.5375,26.048,23.0666,8.537,31.0622,42.1438,28.9116,18.3245,35.1251,29.2128],"volumeParticipation":true,"latest":{"consensus":-39.6,"control":-39.1,"force":-28.8,"direction":-47.8,"confirmation":88.3,"persistence":50.0,"assessmentRisk":29.2,"intensity":9.6,"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":"Downward commitment","forcePath":"Commitment is easing","directionState":"Downward follow-through","persistenceState":"Developing","confirmationState":"Strong support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-39.6","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-39.1","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-28.8","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-47.8","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"88/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"32.9","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"9.6%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"14.5","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"5%","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 downward.","series":[{"label":"Close","values":[67.7,66.05,65.5,64.0,65.9,66.25,61.7,57.65,59.3,58.75,57.05,59.4,59.95,60.9,63.85,71.1,71.15,66.9,69.75,71.4,70.8,65.35,65.8,61.35,60.3,60.6,57.25,55.95,61.4,59.95,46.76,48.92,47.6,47.0,45.5,44.54,41.1,41.5,41.8,38.74,33.12,34.8,32.76,32.44,32.86,36.5,37.3,37.26,38.38,39.7,38.58,39.08,40.0,42.3,37.86,36.92,39.3,38.04,35.42,33.46,32.18,33.3,33.32,33.3,29.88,30.84,32.1,32.46,32.64,31.0,29.64,29.42,29.1,30.2,30.5,31.4,30.86,32.5,30.22,30.18,27.98,28.28,29.02,28.44,29.08,28.28,30.08,28.74,27.8,28.62,28.0,26.2,26.36,25.54,24.46,24.3,26.04,24.92,26.42,24.8,24.42,22.46,22.76,22.24],"stroke":"#10243b","width":2.1},{"label":"Fast 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