{"schema_version":"1.0","name":"2659 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"9ef7985a-be56-4db5-960b-702cd4fb7e4f","symbol":"2659","name":"Shanghai Bao Pharmaceuticals Co., Ltd.","exchange":"HKG","country":"HK","asset_type":"equity","currency":"HKD","sector":"Healthcare","industry":"Biotechnology"},"summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. 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, Drawdown and recovery pressure, Activity pressure and cumulative balance, Range position and boundary pressure, Range pressure and compression, Directional strength and control."},{"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":37,"displayedObservations":37,"assetType":"Equity","state":"Aligned downward","stateTone":"negative","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price structure remains downward.","evidenceAlignment":{"status":"Countertrend conflict","headline":"Improving Market Dynamics is challenging the downward price structure","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price structure remains downward.","take":"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.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[-0.882662,-1.154862,-1.133635,-1.101177,-1.02705,-0.894928,-0.650587,-0.416756,-0.234283],"opens":[16.549999,19.940001,19.379999,19.879999,17.85,17.99,17.38,18.290001,17.059999],"highs":[17.200001,19.940001,22.120001,19.879999,18.389999,20.219999,18.42,18.77,17.059999],"lows":[15.68,18.32,19.1,17.299999,17.02,16.889999,16.93,16.700001,15.88],"closes":[16.42,18.690001,19.84,17.33,17.25,17.25,17.98,16.9,16.09],"hoverRows":[[{"label":"Open","value":"16.5","className":"is-ohlc","compact":true},{"label":"High","value":"17.2","className":"is-ohlc","compact":true},{"label":"Low","value":"15.7","className":"is-ohlc","compact":true},{"label":"Close","value":"16.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.88","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.9","className":"is-ohlc","compact":true},{"label":"High","value":"19.9","className":"is-ohlc","compact":true},{"label":"Low","value":"18.3","className":"is-ohlc","compact":true},{"label":"Close","value":"18.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.15","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.4","className":"is-ohlc","compact":true},{"label":"High","value":"22.1","className":"is-ohlc","compact":true},{"label":"Low","value":"19.1","className":"is-ohlc","compact":true},{"label":"Close","value":"19.8","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.13","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.9","className":"is-ohlc","compact":true},{"label":"High","value":"19.9","className":"is-ohlc","compact":true},{"label":"Low","value":"17.3","className":"is-ohlc","compact":true},{"label":"Close","value":"17.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.10","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"17.9","className":"is-ohlc","compact":true},{"label":"High","value":"18.4","className":"is-ohlc","compact":true},{"label":"Low","value":"17.0","className":"is-ohlc","compact":true},{"label":"Close","value":"17.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.03","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"18.0","className":"is-ohlc","compact":true},{"label":"High","value":"20.2","className":"is-ohlc","compact":true},{"label":"Low","value":"16.9","className":"is-ohlc","compact":true},{"label":"Close","value":"17.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.89","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"17.4","className":"is-ohlc","compact":true},{"label":"High","value":"18.4","className":"is-ohlc","compact":true},{"label":"Low","value":"16.9","className":"is-ohlc","compact":true},{"label":"Close","value":"18.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.65","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"18.3","className":"is-ohlc","compact":true},{"label":"High","value":"18.8","className":"is-ohlc","compact":true},{"label":"Low","value":"16.7","className":"is-ohlc","compact":true},{"label":"Close","value":"16.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.42","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"17.1","className":"is-ohlc","compact":true},{"label":"High","value":"17.1","className":"is-ohlc","compact":true},{"label":"Low","value":"15.9","className":"is-ohlc","compact":true},{"label":"Close","value":"16.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.23","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[15.865,20.065],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.234283,"state":"Negative but repairing over four weeks","context":{"scenario":"negativeRepair","latestDirection":"strengthening","fourWeekDirection":"strengthening","now":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeek":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"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":"Accumulation repair watch","detail":"Price is within accumulation conditions while Market Dynamics is improving. A green marker is required before the recovery is treated as confirmed.","tone":"caution"},"chartSummary":"Price is in the accumulation zone. The Market Dynamics bars show whether underlying conditions are repairing or continuing to weaken.","summary":"Price is within accumulation conditions while Market Dynamics is improving. A green marker is required before the recovery is treated as confirmed.","annotations":[{"label":"Current tape relationship","value":"Accumulation repair watch","detail":"Market Dynamics improved this week but remains below zero.","tone":"caution"},{"label":"Price location","value":"Accumulation zone","detail":"Price is being tested for a confirmed recovery through the lower zone.","tone":"caution"},{"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":"Repairing","detail":"Underlying support has strengthened across the recent completed path.","tone":"positive"}],"relationshipEvidence":{"available":false,"observations":25,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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","2026-08-21"],"close":[68.35,73.0,78.45,69.7,78.95,101.6,99.3,104.0,111.0,166.5,182.3,154.9,101.4,101.0,93.65,89.8,102.8,99.55,89.65,77.85,25.8,27.4,25.1,24.52,24.54,21.6,19.32,17.97,16.42,18.69,19.84,17.33,17.25,17.25,17.98,16.9,16.09],"consensus":[76.4285,52.0661,100.0,-25.0759,47.1492,66.0875,31.7579,55.0393,69.1796,89.6557,77.3994,0.0,-54.6111,-20.4332,-38.4527,-41.5403,16.7867,-16.9133,-32.9108,-49.8419,-78.6069,-33.9154,-52.9764,-49.6032,-34.5758,-48.1853,-39.7781,-44.5528,-34.7,-31.7694,-26.2008,-39.4708,-29.3273,-30.2339,-12.619,-29.6765,-27.589],"supportDates":["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","2026-08-21"],"control":[null,null,null,null,null,68.7912,20.0751,46.4421,63.0194,86.9552,78.656,0.0,-49.374,-5.2823,-29.6256,-36.6256,22.3716,-17.9316,-38.4709,-55.8241,-74.6054,-24.7165,-52.081,-49.7577,-40.2238,-57.9826,-44.8489,-52.9259,-33.8029,-37.9491,-34.6638,-54.0458,-40.9169,-40.7092,-11.4285,-42.6255,-38.9928],"force":[76.4285,52.0661,100.0,-25.0759,36.06,52.7005,1.6166,47.9411,74.9579,99.8441,62.9135,0.0,-92.8083,-9.4133,-32.2639,-31.0656,44.2682,-18.1191,-31.3225,-49.3743,-98.6971,-1.0618,-30.7861,-22.2641,-4.8896,-24.9096,-12.8223,-19.0282,-9.1545,-4.627,-0.0039,-20.3314,-7.9993,-11.2547,-7.5389,-15.9718,-13.109],"direction":[null,null,null,null,55.0699,72.5595,66.6392,69.9348,72.0926,85.4645,86.3104,0.0,-33.3127,-45.6199,-52.9613,-54.639,9.2257,-14.8883,-27.6909,-43.3392,-68.83,-69.4122,-69.85,-68.9547,-49.3253,-53.6139,-53.2369,-53.2153,-53.9722,-44.0945,-35.2463,-36.4845,-31.3162,-31.8187,-28.3782,-24.6666,-24.8989],"intensity":[null,null,null,null,100.0,100.0,83.3333,14.2857,25.0,100.0,100.0,81.8182,83.3333,76.9231,64.2857,6.6667,50.0,47.0588,55.5556,47.3684,85.0,100.0,4.5455,4.3478,16.6667,12.0,26.9231,7.4074,14.2857,17.2414,10.0,16.129,9.375,12.1212,11.7647,2.8571,13.8889],"confirmation":[47.1238,39.3278,54.6667,30.691,59.9141,88.6988,54.7553,85.5273,90.4075,97.0415,92.3072,40.1073,86.7195,51.767,80.2508,81.0485,30.759,73.4335,78.3983,83.844,93.8275,55.487,84.2898,83.0375,55.4068,82.5606,79.8302,81.3514,78.3392,54.5782,52.7908,79.8253,53.8915,76.9368,50.3835,76.8815,84.2134],"persistence":[null,null,100.0,50.0,60.0,66.6667,71.4286,75.0,75.0,75.0,75.0,87.5,62.5,37.5,12.5,12.5,12.5,37.5,62.5,75.0,75.0,75.0,75.0,75.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0],"assessmentRisk":[null,null,null,null,22.1732,16.6193,32.7427,22.4297,15.358,5.1074,11.2951,48.6765,9.1659,39.3317,30.7037,28.7484,5.5335,5.4905,8.1254,1.8661,10.34,32.5502,23.3212,24.7886,13.9997,5.0599,0.8576,1.0796,8.0306,5.43,14.978,17.4226,17.6733,20.6544,35.6834,0.5242,19.2426],"volumeParticipation":true,"latest":{"consensus":-27.6,"control":-39.0,"force":-13.1,"direction":-24.9,"confirmation":84.2,"persistence":100.0,"assessmentRisk":19.2,"intensity":13.9,"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":"Broadly stable","directionState":"Downward follow-through","persistenceState":"Established","confirmationState":"Strong support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-27.6","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-39.0","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-13.1","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-24.9","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"84/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"35.1","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"60.0%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"21.1","detail":"Range-led","tone":"neutral"},{"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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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}