{"schema_version":"1.0","name":"LAB Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"ba71fce2-6f8b-40d3-adf1-23791325f145","symbol":"LAB","name":"Labat Africa Limited","exchange":"JNB","country":"ZA","asset_type":"equity","currency":"ZAC","sector":"Healthcare","industry":"Drug Manufacturers - Specialty & Generic"},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. 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elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":1,"completedEpisodes":1,"activeEpisodes":0,"medianExpectedMove":45.5,"averageExpectedMove":45.5,"averageWeeksToLargestMove":1.0,"horizons":[{"weeks":4,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-18.2,"medianReturn":-18.2,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-36.4,"medianReturn":-36.4,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-54.5,"medianReturn":-54.5,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-45.5,"sample":1},{"week":2,"averageReturn":-45.5,"sample":1},{"week":3,"averageReturn":-18.2,"sample":1},{"week":4,"averageReturn":-18.2,"sample":1},{"week":5,"averageReturn":-27.3,"sample":1},{"week":6,"averageReturn":-27.3,"sample":1},{"week":7,"averageReturn":-45.5,"sample":1},{"week":8,"averageReturn":-36.4,"sample":1},{"week":9,"averageReturn":-36.4,"sample":1},{"week":10,"averageReturn":-27.3,"sample":1},{"week":11,"averageReturn":-45.5,"sample":1},{"week":12,"averageReturn":-36.4,"sample":1},{"week":13,"averageReturn":-45.5,"sample":1},{"week":14,"averageReturn":-36.4,"sample":1},{"week":15,"averageReturn":-45.5,"sample":1},{"week":16,"averageReturn":-36.4,"sample":1},{"week":17,"averageReturn":-36.4,"sample":1},{"week":18,"averageReturn":-36.4,"sample":1},{"week":19,"averageReturn":-45.5,"sample":1},{"week":20,"averageReturn":-54.5,"sample":1},{"week":21,"averageReturn":-36.4,"sample":1},{"week":22,"averageReturn":-54.5,"sample":1},{"week":23,"averageReturn":-36.4,"sample":1},{"week":24,"averageReturn":-45.5,"sample":1},{"week":25,"averageReturn":-54.5,"sample":1},{"week":26,"averageReturn":-54.5,"sample":1}]},"currentApplication":{"status":"Underlying strength ahead of price","tone":"caution","headline":"Underlying strength is leading price","use":"A positive price response is needed before the early upside case is confirmed.","confirm":"Treat the gap as an early-upside opportunity watch. A continued positive price response would confirm that price is catching up with the stronger foundation.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"strengthening","zone":"middle","zoneContext":"Market Dynamics has strengthened across the recent completed path and remains strongly positive, while price has not advanced as far through its range. The gap is an early-upside watch; a positive price response is needed for confirmation.","historical":{"label":"Broad directional cases","weeks":12,"direction":"higher","percent":11.1,"averageReturn":-8.1,"sample":18},"nowContext":{"label":"Stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeekContext":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"priceContext":{"label":"Price is lagging the underlying strength","detail":"Market Dynamics has advanced further through its recent range than price. This is positive divergence and an early-upside watch, but price confirmation is still required."}},"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":"Early repair watch","title":"Prepare the case before price confirms the recovery","tone":"recovery","approach":"Use the improvement to move the ticker onto a watchlist or define an entry trigger. Commitment should rise only after price responds; fading Market Dynamics cancels the early case.","finding":"In this ticker's completed record, 11.1% of comparable cases moved higher after 12 weeks, with an average move of -8.1% across 18 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, 100.0% of completed 12-week outcomes were higher across 1 cases. Distinct visits lasted 2.0 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 19.5% across 18 completed cases, with the largest move arriving after 3.2 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":"2026-07-10","price":2.0}],"distribution_rollovers":[{"date":"2025-01-10","price":4.0}],"price_pressure_gaps":[{"date":"2025-01-03","price":7.333333}]}},"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":[4.6667,4.6667,4.6667,4.6667,4.6667,4.6667,4.6667,4.6667,4.6667,4.6667,4.6667,4.6667,4.6667,4.6667,4.6667,4.6667,4.6667,4.6667,4.6667,7.3333,4.0,4.0,6.0,6.0,5.3333,5.3333,4.0,4.6667,4.6667,5.3333,4.0,4.6667,4.0,4.6667,4.0,4.6667,4.6667,4.6667,4.0,3.3333,4.6667,3.3333,4.6667,4.0,3.3333,3.3333,4.0,4.0,4.0,4.0,3.3333,4.0,3.3333,4.0,4.0,4.0,3.3333,2.6667,4.0,4.0,5.3333,4.0,4.6667,4.0,4.0,2.6667,3.3333,2.6667,3.3333,4.6667,5.3333,5.3333,4.0,3.3333,4.6667,4.6667,4.0,5.3333,4.0,3.3333,3.3333,3.3333,4.0,3.3333,2.6667,3.3333,3.3333,2.6667,2.6667,2.0,2.0,1.3333,2.0,1.3333,1.3333,1.3333,3.3333,2.6667,2.0,2.0,2.0,3.0,3.0,3.0],"consensus":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,73.4477,-65.4311,-27.3299,54.8357,16.7036,0.0,20.0857,-48.5773,0.0,-16.2497,27.6389,-44.6108,21.0595,-43.3482,15.3341,-23.739,23.0382,0.0,0.0,-23.1263,-40.4363,31.7817,-51.722,38.801,-22.0303,-41.1355,-26.9411,21.0195,12.4298,13.4013,0.0,-30.328,25.1412,-43.7865,36.1373,17.2891,16.2128,-30.2762,-64.9948,41.6824,0.0,49.1373,-22.9456,34.5029,-17.8934,0.0,-57.8477,10.0619,-50.8357,18.0205,55.5622,45.1239,36.6956,-29.0196,-43.0116,30.242,0.0,-18.4262,51.3578,-34.3829,-28.3163,0.0,-17.1752,19.9015,-20.4488,-30.7852,14.207,0.0,-44.1522,0.0,-30.4497,-14.761,-60.1295,0.0,-41.8635,-21.6716,0.0,53.7346,0.0,-21.8361,0.0,0.0,43.1915,24.3513,28.6518],"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":[-49.2476,38.0142,16.0109,23.1371,-31.028,-64.8996,42.9139,0.0,31.3417,-30.1517,26.8973,-14.5322,0.0,-56.8581,16.4613,-47.0366,21.8442,49.1161,34.1479,38.7413,-38.0553,-38.0628,30.9662,0.0,-18.7718,42.4836,-29.3622,-21.408,0.0,-10.1947,30.9795,-23.3804,-31.4568,24.3273,0.0,-40.8288,0.0,-13.9424,-2.4333,-61.8169,0.0,-38.247,-18.5291,0.0,45.8015,0.0,-23.0101,0.0,0.0,39.6289,24.1571,30.1418],"force":[-54.0616,76.155,18.2368,20.561,-47.0522,-86.8707,82.5312,0.0,77.6656,-67.6977,61.286,-48.6618,0.0,-86.9247,50.4195,-76.2329,59.9667,91.0716,63.8512,21.4955,-65.7033,-70.6132,64.6262,0.0,-39.8565,86.0263,-73.2929,-38.1488,0.0,-8.8909,29.906,-26.2098,-28.8809,30.849,0.0,-70.2448,0.0,-39.0399,-3.469,-72.1476,0.0,-50.2529,-5.2193,0.0,89.5067,0.0,-53.097,0.0,0.0,78.4704,18.1893,27.1768],"direction":[-30.2057,5.408,18.0728,5.1935,-17.4341,-49.478,11.0971,0.0,49.0977,-17.2556,24.0642,-0.2426,0.0,-38.2095,26.0785,-37.0367,16.3111,37.5653,44.2912,45.2148,-7.5094,-28.952,4.8541,0.0,-2.7239,36.7365,-12.328,-29.1882,0.0,-31.0701,0.0949,-12.9834,-31.378,9.2462,0.0,-29.3127,0.0,-43.1794,-41.8713,-49.6165,0.0,-40.0042,-37.0146,0.0,37.2496,0.0,-1.8349,0.0,0.0,22.0637,28.9747,28.0026],"intensity":[50.0,50.0,36.5385,36.5385,50.0,34.6154,82.6923,75.0,100.0,94.2308,90.3846,69.2308,71.1538,76.9231,34.6154,34.6154,34.6154,84.6154,67.3077,86.5385,69.2308,32.6923,92.3077,80.7692,63.4615,73.0769,75.0,75.0,34.6154,36.5385,38.4615,40.3846,42.3077,44.2308,9.6154,48.0769,80.7692,50.0,11.5385,53.8462,55.7692,57.6923,13.4615,61.5385,98.0769,86.5385,59.6154,15.3846,59.6154,65.3846,65.3846,11.5385],"confirmation":[82.2416,58.0882,73.5809,50.5484,78.1882,89.4665,82.5645,24.3692,84.8645,34.9445,79.9731,52.0999,3.5199,87.4125,32.5823,85.0993,33.133,86.9603,83.1776,79.2482,57.2019,82.6803,56.0476,24.2946,51.8776,85.6263,80.2649,77.4661,26.4121,73.3499,51.8379,74.6745,77.783,29.5384,3.6395,82.9745,3.482,78.2573,27.7625,87.582,31.0399,81.7071,51.8147,4.0393,86.4062,5.8643,53.6471,1.3754,27.5999,82.9507,75.6076,77.1009],"persistence":[12.5,37.5,37.5,37.5,12.5,0.0,25.0,12.5,37.5,12.5,12.5,12.5,0.0,0.0,0.0,12.5,12.5,12.5,12.5,37.5,25.0,25.0,25.0,37.5,12.5,12.5,12.5,37.5,25.0,25.0,25.0,37.5,37.5,37.5,25.0,25.0,25.0,25.0,50.0,50.0,37.5,62.5,75.0,62.5,50.0,37.5,37.5,25.0,25.0,0.0,25.0,37.5],"assessmentRisk":[12.656,18.0686,31.2164,8.1064,15.1381,17.0879,20.8412,2.9375,25.1431,58.2412,16.7415,8.9467,47.7062,16.9787,50.9335,20.2572,40.8591,20.8372,26.1598,31.4483,44.9528,23.9877,46.9698,32.6615,9.2131,22.9394,13.384,30.2611,28.688,40.2185,9.9508,10.2244,17.5605,7.1035,34.4027,14.9855,1.407,32.6143,41.7926,19.5454,44.9475,21.4954,31.5914,3.1854,20.4873,47.5418,46.979,36.0071,48.4532,1.1503,31.5133,29.3631],"volumeParticipation":true,"latest":{"consensus":28.7,"control":30.1,"force":27.2,"direction":28.0,"confirmation":77.1,"persistence":37.5,"assessmentRisk":29.4,"intensity":11.5,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the upward view","summary":"The completed evidence gives the upward view the clearer support.","take":"Current assessment: upward pressure has the stronger support.","tone":"positive","supportedView":"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":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+28.7","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+30.1","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+27.2","detail":"Upward 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