{"schema_version":"1.0","name":"CNTB Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"b58a5b41-5e8b-474a-a14a-af1b858bad55","symbol":"CNTB","name":"Connect Biopharma Holdings Ltd","exchange":"NASDAQ","country":"US","asset_type":"equity","currency":"USD","sector":"Healthcare","industry":"Biotechnology"},"summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","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, Range pressure and compression, Directional strength and control, Activity pressure and cumulative balance, Range position and boundary pressure."},{"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":50,"displayedObservations":50,"assetType":"Equity","state":"Rotational","stateTone":"caution","summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","evidenceAlignment":{"status":"Underlying support lags price","headline":"Market Dynamics is weaker than the current price position","summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","take":"This is a downside risk watch, not a completed reversal. Stronger Market Dynamics or weaker price is needed to close the gap.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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"],"values":[0.081749,0.175555,0.319211,0.328328,0.349821,0.245957,-0.042193,-0.374623,-0.702943,-0.943647,-0.94889,-0.96358,-0.997133,-1.025425,-1.03059,-0.963954,-0.74589,-0.546073,-0.623027,-0.697703,-0.749421,-0.615017],"opens":[2.68,2.81,3.62,3.0,2.81,2.81,2.51,2.46,2.36,2.39,2.45,2.49,2.25,2.21,2.13,2.26,2.45,2.49,2.34,2.15,2.06,2.2],"highs":[3.0,3.82,3.62,3.07,3.1494,3.0299,2.59,2.6,2.7,2.45,2.7199,2.505,2.29,2.2789,2.31,2.51,2.83,2.595,2.39,2.2,2.25,2.64],"lows":[2.56,2.76,2.55,2.58,2.69,2.42,2.3348,2.27,2.32,2.19,2.3,2.13,2.06,1.93,1.92,2.16,2.145,2.22,2.09,1.99,1.955,2.11],"closes":[2.76,3.45,2.99,2.82,2.81,2.52,2.47,2.36,2.38,2.35,2.49,2.17,2.12,2.0,2.19,2.46,2.51,2.38,2.14,2.02,2.205,2.55],"hoverRows":[[{"label":"Open","value":"2.68","className":"is-ohlc","compact":true},{"label":"High","value":"3.00","className":"is-ohlc","compact":true},{"label":"Low","value":"2.56","className":"is-ohlc","compact":true},{"label":"Close","value":"2.76","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"-0.75","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"2.20","className":"is-ohlc","compact":true},{"label":"High","value":"2.64","className":"is-ohlc","compact":true},{"label":"Low","value":"2.11","className":"is-ohlc","compact":true},{"label":"Close","value":"2.55","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.62","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":[1.913,3.537],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.615017,"state":"Price is moving ahead of Market Dynamics","context":{"scenario":"priceAhead","latestDirection":"strengthening","fourWeekDirection":"weakening","now":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeek":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"price":{"label":"Price is ahead of the underlying support","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets."}},"diagnosis":{"label":"Price response ahead of support","detail":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","tone":"caution"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","annotations":[{"label":"Current tape relationship","value":"Price response ahead of support","detail":"Market Dynamics improved this week but remains below zero.","tone":"caution"},{"label":"Price location","value":"Between zones","detail":"Price is travelling between the two major positioning zones.","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":"Lagging price","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":22,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-03-27","price":3.45}],"reversal_dangers":[{"date":"2026-04-03","price":2.99}]}},"smTape":{"available":true,"dates":["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":[1.75,1.56,1.57,1.58,1.49,1.86,1.73,1.7,1.71,1.55,2.12,3.04,2.81,2.4,2.5,2.27,2.69,2.52,2.15,2.16,2.54,2.4,2.43,2.6,2.65,2.47,2.48,2.69,2.76,3.45,2.99,2.82,2.81,2.52,2.47,2.36,2.38,2.35,2.49,2.17,2.12,2.0,2.19,2.46,2.51,2.38,2.14,2.02,2.205,2.55],"consensus":[-57.8947,-100.0,-80.7877,-28.9896,-24.7213,31.3215,0.0,0.0,16.4059,-34.1262,61.211,77.7827,19.8028,0.0,36.3738,-19.5848,38.3486,0.0,-35.7488,-9.2956,26.6853,-10.1747,9.4799,29.8213,9.004,-9.1898,0.0,23.8985,17.7184,63.9511,-10.7188,0.0,0.0,-41.4971,-18.4935,-29.6781,-21.0111,-14.0538,0.0,-49.2114,-31.3771,-40.3596,0.0,33.4624,16.7245,0.0,-33.0413,-37.5923,0.0,-42.0671],"supportDates":["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":[null,null,null,null,null,32.8088,0.0,0.0,17.3273,-33.6846,52.7118,68.794,13.8944,0.0,35.028,-9.8192,46.4841,0.0,-39.8684,-9.0332,32.7667,-10.0577,5.1628,27.0646,5.8559,-12.5069,0.0,21.3169,17.7582,57.4678,-16.9404,0.0,0.0,-30.6172,-12.7284,-27.4266,-18.4842,-10.6712,0.0,-47.8316,-32.5674,-40.4588,0.0,31.6725,10.0836,0.0,-38.3303,-39.825,0.0,-41.1154],"force":[-57.8947,-100.0,-80.7877,-28.9896,-5.9119,31.686,0.0,0.0,19.0125,-42.0034,89.7294,93.2311,41.0009,0.0,26.773,-40.7421,49.0219,0.0,-50.3987,-5.7272,41.1099,-25.8063,6.5688,35.0404,1.2276,-25.7016,0.0,35.3133,12.1957,86.3129,-62.6814,0.0,0.0,-75.2603,-13.3223,-28.4799,-11.8101,-5.5142,0.0,-75.1882,-23.0505,-37.4753,0.0,61.4744,21.3455,0.0,-43.4679,-32.7045,0.0,-69.264],"direction":[null,null,null,null,-38.1567,29.3614,0.0,0.0,13.491,-29.0044,50.5541,77.021,69.9866,0.0,44.7698,-15.6332,21.4271,0.0,-20.5767,-12.1445,9.4317,-0.8569,16.493,29.244,19.9103,-6.3953,0.0,18.6954,21.6178,55.3878,-33.5077,0.0,0.0,-29.8146,-28.776,-33.1072,-30.4711,-24.0193,0.0,-32.2334,-35.9643,-42.3064,0.0,15.4993,21.0134,0.0,-19.549,-38.532,0.0,-23.7285],"intensity":[null,null,null,null,100.0,100.0,33.3333,28.5714,25.0,44.4444,100.0,100.0,83.3333,69.2308,64.2857,46.6667,75.0,47.0588,66.6667,21.0526,90.0,38.0952,9.0909,34.7826,70.8333,92.0,3.8462,66.6667,10.7143,96.5517,80.0,90.3226,18.75,54.5455,73.5294,20.0,16.6667,48.6486,52.6316,61.5385,40.0,26.8293,38.0952,55.814,65.9091,42.2222,43.4783,36.1702,33.3333,75.5102],"confirmation":[41.193,54.6667,48.5187,31.9434,29.7176,78.0113,26.6287,1.3574,73.3153,79.1672,88.5862,93.4983,35.9874,37.1303,79.3675,75.0608,80.4729,28.7968,79.8233,48.2032,76.8862,49.2502,25.6773,77.7439,25.546,50.0911,0.9577,76.0347,73.501,89.2446,34.7338,5.4971,1.7164,82.4738,73.8482,77.4948,74.4816,49.6218,26.1485,84.5604,77.7688,80.8256,8.1791,79.5889,73.5939,27.6232,78.8104,79.8466,30.3417,82.3048],"persistence":[null,null,100.0,100.0,100.0,66.6667,57.1429,50.0,25.0,25.0,0.0,25.0,50.0,37.5,50.0,37.5,37.5,50.0,25.0,0.0,0.0,12.5,12.5,12.5,12.5,0.0,12.5,37.5,37.5,62.5,37.5,25.0,12.5,12.5,0.0,25.0,50.0,75.0,62.5,75.0,87.5,87.5,75.0,50.0,25.0,12.5,25.0,25.0,12.5,12.5],"assessmentRisk":[null,null,null,null,37.4507,30.3166,37.3747,28.4506,36.0092,31.0705,16.0668,11.074,39.9552,52.9902,22.0197,38.9722,35.0732,17.3144,18.6955,9.6799,31.9534,9.9254,26.4702,27.2983,16.1993,18.3975,9.5863,6.9553,14.6897,17.972,52.5119,25.241,8.8533,29.1546,38.8008,32.0647,35.8529,21.5315,1.45,5.3544,21.8945,23.1846,48.4448,30.3613,40.8225,52.0815,1.3184,30.7822,51.0784,14.1501],"volumeParticipation":true,"latest":{"consensus":-42.1,"control":-41.1,"force":-69.3,"direction":-23.7,"confirmation":82.3,"persistence":12.5,"assessmentRisk":14.2,"intensity":75.5,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the downward view","summary":"The completed evidence gives the downward view the clearer support.","take":"Current assessment: downward pressure has the stronger support.","tone":"negative","supportedView":"Market Dynamics","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is strengthening","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"-42.1","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-41.1","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-69.3","detail":"Downward 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}