{"schema_version":"1.0","name":"2476 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"a51061cf-de41-4868-bf80-ba6fc7bb855d","symbol":"2476","name":"VGT","exchange":"HKG","country":"HK","asset_type":"equity","currency":"HKD","sector":"Technology","industry":"Electronic Components"},"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, Drawdown and recovery pressure, Range pressure and compression, Activity pressure and cumulative balance."},{"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":18,"displayedObservations":18,"assetType":"Equity","state":"Aligned downward","stateTone":"negative","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":["2026-04-24","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],"opens":[330.0,315.600006,326.0,352.0,338.399994,404.200012,408.0,399.799988,390.0,367.600006,285.200012,268.399994,234.800003,220.0,215.0,184.399994,264.799988,246.0],"highs":[345.0,328.0,356.799988,410.0,405.0,475.0,408.0,408.799988,428.200012,367.600006,313.600006,275.0,237.800003,249.800003,227.800003,262.799988,266.0,258.0],"lows":[302.0,290.0,318.0,330.399994,337.799988,400.0,361.200012,370.600006,383.0,330.0,280.200012,228.399994,209.800003,201.600006,165.600006,178.899994,232.399994,216.800003],"closes":[315.600006,319.399994,345.399994,340.0,403.600006,426.0,368.600006,378.799988,411.600006,342.399994,297.0,230.199997,215.0,214.399994,184.399994,256.200012,241.0,233.600006],"hoverRows":[[{"label":"Open","value":"330.0","className":"is-ohlc","compact":true},{"label":"High","value":"345.0","className":"is-ohlc","compact":true},{"label":"Low","value":"302.0","className":"is-ohlc","compact":true},{"label":"Close","value":"315.6","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}],[{"label":"Open","value":"246.0","className":"is-ohlc","compact":true},{"label":"High","value":"258.0","className":"is-ohlc","compact":true},{"label":"Low","value":"216.8","className":"is-ohlc","compact":true},{"label":"Close","value":"233.6","className":"is-ohlc","compact":true},{"label":"Market 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":[169.903994,440.496],"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":18,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-05-22","price":403.600006}],"reversal_dangers":[{"date":"2026-05-29","price":426.0}]}},"smTape":{"available":true,"dates":["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":[315.6,319.4,345.4,340.0,403.6,426.0,368.6,378.8,411.6,342.4,297.0,230.2,215.0,214.4,184.4,256.2,241.0,233.6],"consensus":[-36.7442,54.7368,41.2371,-44.01,75.8156,45.8387,0.0,15.6734,41.448,-41.3993,-42.8176,-74.2126,-57.4265,-46.7525,-66.8671,30.2568,-26.2495,-18.9235],"supportDates":["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,38.1539,0.0,4.9674,44.8108,-38.5596,-37.3412,-77.143,-57.1571,-41.7135,-57.5571,27.7541,-36.1705,-26.3013],"force":[-36.7442,54.7368,41.2371,-44.01,52.7478,21.966,0.0,0.8731,37.9341,-48.365,-27.361,-68.0758,-32.2746,-18.059,-70.7489,87.5907,-26.7481,-9.4677],"direction":[null,null,null,null,92.2925,71.6733,0.0,38.4804,40.1148,-39.6691,-60.1167,-75.2469,-75.7002,-73.0067,-74.7343,7.8358,-14.5552,-17.2458],"intensity":[null,null,null,null,100.0,100.0,83.3333,14.2857,50.0,88.8889,60.0,72.7273,41.6667,15.3846,42.8571,100.0,56.25,17.6471],"confirmation":[34.4248,40.1824,35.8625,36.7499,68.5398,82.0579,31.4925,27.3942,81.105,81.5033,81.314,91.5163,85.6141,82.1631,89.6576,58.4726,76.2639,55.0],"persistence":[null,null,33.3333,0.0,20.0,33.3333,28.5714,37.5,62.5,37.5,12.5,12.5,12.5,37.5,50.0,50.0,75.0,75.0],"assessmentRisk":[null,null,null,null,11.9589,27.0678,31.9361,32.9008,8.7532,27.7828,25.7146,12.7933,21.2794,26.4655,16.2104,11.0399,39.2687,31.8492],"volumeParticipation":true,"latest":{"consensus":-18.9,"control":-26.3,"force":-9.5,"direction":-17.2,"confirmation":55.0,"persistence":75.0,"assessmentRisk":31.8,"intensity":17.6,"evidenceDepth":69},"analysis":{"status":"Price structure has the available support","headline":"The gauges support the price-technical view","summary":"Market Dynamics does not provide a directional confirmation. The completed evidence supports the downward price structure.","take":"Current assessment: follow price structure with limited confirmation.","tone":"negative","supportedView":"Price structure","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is easing","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":"-18.9","detail":"Price structure has the available support","tone":"negative"},{"label":"SM Control Gauge","value":"-26.3","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-9.5","detail":"Commitment is limited","tone":"negative"},{"label":"SM Direction Gauge","value":"-17.2","detail":"Downward 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