{"schema_version":"1.0","name":"ETS Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"a1d7d66d-013d-4e43-8e52-3682ad28ca47","symbol":"ETS","name":"E.T.S. S.P.A. Engineering and Technical Services","exchange":"MIL","country":"IT","asset_type":"equity","currency":"EUR","sector":"Industrials","industry":"Engineering & Construction"},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has contracted across the recent completed path. Price remains elevated in the distribution zone.","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, Directional strength and control, Activity pressure and cumulative balance, Range position and boundary pressure, Range pressure and compression, Acceleration, deceleration and rollover."},{"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":47,"displayedObservations":47,"assetType":"Equity","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has contracted across the recent completed path. Price remains elevated in the distribution zone.","evidenceAlignment":{"status":"Evidence conflict","headline":"Price is ahead of Market Dynamics","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has contracted across the recent completed path. Price remains elevated in the distribution zone.","take":"The gap can close through stronger Market Dynamics or weaker price. Until then, the upward structure should be treated as vulnerable rather than fully aligned.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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"],"values":[0.710518,1.12922,1.476136,1.618782,1.614713,1.555888,1.514491,1.557333,1.440333,1.409102,1.385967,1.256219,1.205242,1.068156,0.825886,0.592643,0.362009,0.288453,0.401919],"opens":[4.815118,5.509606,5.417008,5.555906,5.509606,5.833701,6.1,6.1,6.9,6.5,6.9,6.7,6.4,6.5,6.5,6.4,6.4,6.5,7.1],"highs":[5.694803,5.741102,6.204094,5.694803,5.9263,5.972599,6.4,7.1,6.9,6.5,6.9,7.0,6.55,6.5,6.5,6.4,6.5,7.0,7.7],"lows":[4.72252,5.370709,5.417008,5.370709,5.509606,5.694803,5.9,5.8,6.3,6.5,6.55,6.35,6.35,6.5,6.45,6.4,6.35,6.5,7.1],"closes":[5.417008,5.555905,5.555905,5.463307,5.9263,5.88,6.1,7.05,6.45,6.5,6.6,6.4,6.45,6.5,6.45,6.4,6.35,7.0,7.5],"hoverRows":[[{"label":"Open","value":"4.82","className":"is-ohlc","compact":true},{"label":"High","value":"5.69","className":"is-ohlc","compact":true},{"label":"Low","value":"4.72","className":"is-ohlc","compact":true},{"label":"Close","value":"5.42","className":"is-ohlc","compact":true},{"label":"Market 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The gap is a downside-risk warning until support catches up or price resets."}},"diagnosis":{"label":"Unsupported elevation","detail":"Price is in distribution and ahead of Market Dynamics. The advance is not fully confirmed while that gap remains open.","tone":"caution"},"chartSummary":"Price is in the distribution zone. The Market Dynamics bars show whether underlying support is keeping pace with that elevated price.","summary":"Price is in distribution and ahead of Market Dynamics. The advance is not fully confirmed while that gap remains open.","annotations":[{"label":"Current tape relationship","value":"Unsupported elevation","detail":"Market Dynamics strengthened this week and remains positive.","tone":"caution"},{"label":"Price location","value":"Distribution zone","detail":"Price is extended; support can persist, but rollover risk must be monitored.","tone":"caution"},{"label":"Latest positioning marker","value":"8 May 2026","detail":"The green dot marks a confirmed recovery where institutional positioning is most plausible.","tone":"neutral"},{"label":"Market Dynamics confirmation","value":"Not confirming","detail":"Market Dynamics has weakened over four weeks and now lags the elevated price.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":19,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[{"date":"2026-05-08","price":5.9263}],"reversal_warnings":[{"date":"2026-05-29","price":7.05},{"date":"2026-08-07","price":7.0},{"date":"2026-08-14","price":7.5}],"reversal_dangers":[{"date":"2026-06-05","price":6.45}]}},"smTape":{"available":true,"dates":["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":[5.5096,5.3244,5.2226,5.0559,5.167,5.1855,5.0003,5.0031,5.0929,4.9077,5.0374,5.0374,4.8707,4.8151,5.1485,4.9262,4.8707,4.704,4.8336,4.7225,4.7225,4.704,4.7966,4.241,4.7781,4.667,4.741,4.7781,5.417,5.5559,5.5559,5.4633,5.9263,5.88,6.1,7.05,6.45,6.5,6.6,6.4,6.45,6.5,6.45,6.4,6.35,7.0,7.5],"consensus":[-28.7557,-45.6312,31.0347,-35.8344,-21.0084,0.0,-35.1126,-8.8284,-9.0484,-32.5155,0.0,0.0,-34.967,-32.257,32.424,-32.3814,-23.6059,-42.6029,0.0,-37.7653,0.0,0.0,12.9226,-64.2336,38.6804,-24.0623,13.5262,12.1041,63.8541,49.2495,29.2543,15.3217,74.7545,33.1963,51.3345,81.2516,0.0,36.5031,26.2423,-11.6494,21.1917,20.8265,0.0,9.6066,-8.5819,71.2572,71.342],"supportDates":["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":[null,null,null,null,null,0.0,-41.7255,-5.4268,-9.4261,-31.1087,0.0,0.0,-30.915,-41.4766,39.7316,-34.5352,-35.0885,-52.6252,0.0,-46.814,0.0,0.0,19.2435,-70.3404,40.2493,-34.767,25.1578,0.3823,54.1612,39.4691,18.5049,7.3389,76.5774,34.6294,37.4423,78.9441,0.0,31.8739,12.5195,-9.232,24.752,24.8046,0.0,11.3263,-12.3885,76.7875,69.0881],"force":[-28.7557,-45.6312,31.0347,-35.8344,-6.6701,0.0,-26.8441,-5.4185,-1.1236,-27.9991,0.0,0.0,-41.4352,-19.5771,44.4601,-44.2053,-19.5095,-45.2783,0.0,-32.9339,0.0,0.0,34.2517,-67.3777,86.0993,-23.8404,20.3118,17.2575,90.1357,49.3307,7.1421,22.4394,91.2167,0.1826,59.346,97.8563,0.0,12.4517,5.3568,-48.5541,4.9269,3.6079,0.0,4.1005,-21.811,85.4472,85.5756],"direction":[null,null,null,null,-40.7787,0.0,-33.4611,-22.8923,-15.8825,-37.3492,0.0,0.0,-34.9776,-30.7772,15.4752,-21.4741,-13.4089,-29.2379,0.0,-30.875,0.0,0.0,9.5364,-55.0085,3.0166,-11.9868,4.614,21.8196,56.1592,60.369,57.3337,51.4172,60.9124,55.1398,61.4888,72.0281,0.0,58.9732,56.8437,-11.9483,28.7405,28.5791,0.0,17.4319,-5.2177,54.801,63.751],"intensity":[null,null,null,null,25.0,20.0,66.6667,85.7143,87.5,77.7778,30.0,9.0909,50.0,69.2308,92.8571,60.0,43.75,41.1765,27.7778,21.0526,60.0,4.7619,18.1818,100.0,95.8333,68.0,11.5385,100.0,100.0,100.0,83.3333,83.871,81.25,48.4848,76.4706,100.0,91.6667,67.5676,68.4211,46.1538,75.0,24.3902,4.7619,16.2791,18.1818,97.7778,97.8261],"confirmation":[31.8685,37.2686,32.5978,34.1337,30.2585,25.2039,78.8833,26.2653,48.1528,78.2888,27.4686,25.9873,79.4483,77.7953,78.6311,78.6896,75.2541,81.5617,29.9241,79.7998,26.3956,25.6652,29.39,88.5575,59.1323,75.53,50.6756,49.5423,89.382,83.9113,54.1846,8.6609,92.3954,54.9282,84.8829,94.5417,35.922,79.0185,53.3035,30.105,51.5647,51.4124,4.6604,48.8383,49.5378,91.1505,99.2976],"persistence":[null,null,33.3333,50.0,60.0,50.0,57.1429,62.5,62.5,62.5,75.0,62.5,62.5,75.0,50.0,50.0,50.0,50.0,50.0,62.5,50.0,37.5,37.5,37.5,12.5,12.5,0.0,25.0,37.5,50.0,50.0,75.0,75.0,100.0,100.0,100.0,87.5,87.5,87.5,62.5,62.5,62.5,50.0,50.0,37.5,37.5,37.5],"assessmentRisk":[null,null,null,null,39.1998,39.4578,30.5429,18.1098,23.8605,32.9101,10.5956,11.7917,30.1236,17.1884,15.6013,14.3374,11.803,9.9123,49.9518,24.5891,33.8162,3.2439,18.901,17.0783,8.6579,4.7917,17.496,42.9036,16.9115,25.17,35.0713,41.553,9.4047,23.0267,21.7194,9.353,42.7906,28.4328,30.9769,41.2102,10.5958,10.4132,19.4147,4.8033,9.8759,8.395,13.9502],"volumeParticipation":true,"latest":{"consensus":71.3,"control":69.1,"force":85.6,"direction":63.8,"confirmation":99.3,"persistence":37.5,"assessmentRisk":14.0,"intensity":97.8,"evidenceDepth":100},"analysis":{"status":"Joint upward confirmation","headline":"The gauges support the upward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same upward assessment.","take":"Current assessment: upward pressure has broad support.","tone":"positive","supportedView":"Price structure and Market Dynamics","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":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+71.3","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+69.1","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+85.6","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+63.8","detail":"Upward 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