{"schema_version":"1.0","name":"APEN Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"bbfa4993-bd68-433f-b26d-df0feec388e7","symbol":"APEN","name":"21Shares Pendle ETP","exchange":"EBS","country":"CH","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has not yet established a clear direction.","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 pressure and compression, Directional strength and control, 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":"2026-08-21","observations":42,"displayedObservations":42,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has not yet established a clear direction.","evidenceAlignment":{"status":"Support weakening","headline":"Positive Market Dynamics has weakened while price remains rotational","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has not yet established a clear direction.","take":"Treat the weaker support as caution until price and Market Dynamics establish clearer agreement.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[0.444022,0.596744,0.510339,0.437652,0.35251,0.234913,0.249108,0.2866,0.308354,0.364977,0.329612,0.242979,0.131844,0.078696],"opens":[11.376,12.15,8.398,7.964,8.826,8.868,8.31,9.772,9.84,9.84,9.88,8.616,8.62,8.332],"highs":[12.266,12.2,8.884,8.071,9.71,8.868,9.344,9.772,9.84,10.274,9.9,8.75,8.62,9.17],"lows":[11.368,9.241,7.549,7.83,8.523,7.684,8.188,9.741,9.84,9.651,8.98,8.526,8.337,8.332],"closes":[12.02,9.241,7.549,8.001,8.523,7.684,9.344,9.741,9.84,9.68,8.98,8.64,8.337,9.17],"hoverRows":[[{"label":"Open","value":"11.4","className":"is-ohlc","compact":true},{"label":"High","value":"12.3","className":"is-ohlc","compact":true},{"label":"Low","value":"11.4","className":"is-ohlc","compact":true},{"label":"Close","value":"12.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.44","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"12.2","className":"is-ohlc","compact":true},{"label":"High","value":"12.2","className":"is-ohlc","compact":true},{"label":"Low","value":"9.24","className":"is-ohlc","compact":true},{"label":"Close","value":"9.24","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.60","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"8.40","className":"is-ohlc","compact":true},{"label":"High","value":"8.88","className":"is-ohlc","compact":true},{"label":"Low","value":"7.55","className":"is-ohlc","compact":true},{"label":"Close","value":"7.55","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.51","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"7.96","className":"is-ohlc","compact":true},{"label":"High","value":"8.07","className":"is-ohlc","compact":true},{"label":"Low","value":"7.83","className":"is-ohlc","compact":true},{"label":"Close","value":"8.00","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.44","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"8.83","className":"is-ohlc","compact":true},{"label":"High","value":"9.71","className":"is-ohlc","compact":true},{"label":"Low","value":"8.52","className":"is-ohlc","compact":true},{"label":"Close","value":"8.52","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.35","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"8.87","className":"is-ohlc","compact":true},{"label":"High","value":"8.87","className":"is-ohlc","compact":true},{"label":"Low","value":"7.68","className":"is-ohlc","compact":true},{"label":"Close","value":"7.68","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.23","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"8.31","className":"is-ohlc","compact":true},{"label":"High","value":"9.34","className":"is-ohlc","compact":true},{"label":"Low","value":"8.19","className":"is-ohlc","compact":true},{"label":"Close","value":"9.34","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.25","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"9.77","className":"is-ohlc","compact":true},{"label":"High","value":"9.77","className":"is-ohlc","compact":true},{"label":"Low","value":"9.74","className":"is-ohlc","compact":true},{"label":"Close","value":"9.74","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.29","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"9.84","className":"is-ohlc","compact":true},{"label":"High","value":"9.84","className":"is-ohlc","compact":true},{"label":"Low","value":"9.84","className":"is-ohlc","compact":true},{"label":"Close","value":"9.84","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.31","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"9.84","className":"is-ohlc","compact":true},{"label":"High","value":"10.3","className":"is-ohlc","compact":true},{"label":"Low","value":"9.65","className":"is-ohlc","compact":true},{"label":"Close","value":"9.68","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.36","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"9.88","className":"is-ohlc","compact":true},{"label":"High","value":"9.90","className":"is-ohlc","compact":true},{"label":"Low","value":"8.98","className":"is-ohlc","compact":true},{"label":"Close","value":"8.98","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.33","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"8.62","className":"is-ohlc","compact":true},{"label":"High","value":"8.75","className":"is-ohlc","compact":true},{"label":"Low","value":"8.53","className":"is-ohlc","compact":true},{"label":"Close","value":"8.64","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.24","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"8.62","className":"is-ohlc","compact":true},{"label":"High","value":"8.62","className":"is-ohlc","compact":true},{"label":"Low","value":"8.34","className":"is-ohlc","compact":true},{"label":"Close","value":"8.34","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.13","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"8.33","className":"is-ohlc","compact":true},{"label":"High","value":"9.17","className":"is-ohlc","compact":true},{"label":"Low","value":"8.33","className":"is-ohlc","compact":true},{"label":"Close","value":"9.17","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.08","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[7.28074,12.28826],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":0.078696,"state":"Positive but weakening over four weeks","context":{"scenario":"positiveWeakening","latestDirection":"easing","fourWeekDirection":"weakening","now":{"label":"Easier this week","detail":"Market Dynamics eased this week but remains positive."},"fourWeek":{"label":"Weakened over four weeks","detail":"Underlying support has contracted 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":"Positive support is weakening","detail":"Market Dynamics remains above zero, but support has contracted across the recent completed path. Price confirmation now carries more weight.","tone":"caution"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Market Dynamics remains above zero, but support has contracted across the recent completed path. Price confirmation now carries more weight.","annotations":[{"label":"Current tape relationship","value":"Positive support is weakening","detail":"Market Dynamics eased this week but remains positive.","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":"Weakening","detail":"Underlying support has contracted across the recent completed path.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":14,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-11-07","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","2026-08-21"],"close":[17.83,15.248,13.65,17.992,15.698,13.984,11.618,10.912,12.046,13.596,13.552,13.378,11.828,8.056,7.557,7.647,8.185,7.816,8.287,8.038,7.493,6.956,6.84,8.76,8.385,8.094,12.84,12.684,12.02,9.241,7.549,8.001,8.523,7.684,9.344,9.741,9.84,9.68,8.98,8.64,8.337,9.17],"consensus":[73.4756,-100.0,-100.0,100.0,-66.1815,-60.1889,-70.5297,-66.602,-33.023,0.0,-12.7545,0.0,-59.785,-80.9121,-40.6117,-44.4932,-22.174,-46.2209,0.0,-34.6716,-54.6428,-58.0001,-20.5801,31.5069,0.0,-22.5921,79.7243,35.3102,29.469,-37.3182,-56.6472,-15.4857,-16.7158,-56.8499,48.0019,16.8819,20.7457,0.0,-37.3744,-20.6331,-38.6645,23.1405],"supportDates":["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","2026-08-21"],"control":[null,null,null,null,null,-70.4293,-82.3238,-71.587,-40.8209,0.0,-29.0484,0.0,-64.4549,-75.8038,-17.0142,-36.3945,-7.882,-61.3061,0.0,-50.1237,-60.082,-65.2501,-7.8852,37.1601,0.0,-40.3525,81.6569,24.8429,32.8858,-48.7564,-68.6068,-8.73,-20.8718,-56.3732,41.8545,3.6235,14.8438,0.0,-38.007,-19.6494,-46.6829,36.2508],"force":[73.4756,-100.0,-100.0,100.0,-63.1096,-44.7151,-48.2395,-42.1106,-31.5492,0.0,-6.9796,0.0,-75.9131,-91.0409,-24.2063,-11.0192,-10.651,-23.2415,0.0,-15.0683,-57.2283,-57.655,-5.0417,56.4682,0.0,-29.2398,93.3216,4.9736,24.8401,-81.19,-53.3563,-9.9949,-11.1716,-82.552,88.5949,24.9002,10.2761,0.0,-76.5508,-15.6901,-32.2257,37.7045],"direction":[null,null,null,null,-68.3757,-59.5382,-72.9724,-78.3988,-70.2341,0.0,-1.742,0.0,-42.9279,-79.5152,-79.2984,-77.659,-61.954,-45.3946,0.0,-31.0145,-46.5798,-49.9608,-53.3897,7.2167,0.0,-2.4539,67.8032,68.9418,64.3562,-7.091,-45.3297,-41.407,-31.8856,-39.0361,26.0325,34.5893,34.969,0.0,-8.6684,-25.2881,-34.0998,2.2454],"intensity":[null,null,null,null,50.0,20.0,83.3333,14.2857,25.0,88.8889,10.0,36.3636,41.6667,100.0,78.5714,6.6667,18.75,5.8824,16.6667,5.2632,35.0,38.0952,36.3636,69.5652,54.1667,4.0,100.0,44.4444,46.4286,82.7586,90.0,32.2581,59.375,36.3636,61.7647,57.1429,2.7778,16.2162,31.5789,51.2821,10.0,36.5854],"confirmation":[46.1789,54.6667,54.6667,54.6667,66.371,86.6328,89.7105,88.4903,37.8778,31.0634,26.6955,25.1489,87.5516,94.2784,80.8553,81.3411,8.5853,81.8605,6.4245,78.262,85.4816,86.439,29.7404,56.0901,25.2641,53.0183,93.8967,55.8675,35.6888,59.9506,85.8446,29.0807,29.4858,86.9825,84.6914,52.0654,74.4095,29.0825,81.1441,74.4669,80.0542,53.4614],"persistence":[null,null,33.3333,0.0,20.0,33.3333,42.8571,50.0,75.0,62.5,62.5,75.0,75.0,75.0,75.0,75.0,75.0,87.5,75.0,87.5,87.5,87.5,87.5,62.5,50.0,50.0,37.5,12.5,12.5,12.5,12.5,12.5,25.0,25.0,25.0,25.0,25.0,12.5,12.5,12.5,12.5,12.5],"assessmentRisk":[null,null,null,null,1.2904,7.3964,1.0783,16.5129,29.8905,7.1211,42.6626,38.7293,24.3175,9.0801,29.4492,27.4478,38.2322,14.5907,25.0088,32.3071,2.3633,1.7992,33.5293,10.3791,34.05,48.2978,10.1164,31.9675,34.6407,48.6716,21.4656,41.8308,39.9494,7.3733,14.3031,29.2248,22.0373,39.459,8.218,28.6774,25.2314,33.3727],"volumeParticipation":true,"latest":{"consensus":23.1,"control":36.3,"force":37.7,"direction":2.2,"confirmation":53.5,"persistence":12.5,"assessmentRisk":33.4,"intensity":36.6,"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":"Follow-through is limited","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+23.1","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+36.3","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+37.7","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+2.2","detail":"Follow-through is limited","tone":"positive"},{"label":"SM Confirmation Gauge","value":"53/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"41.2","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"12.0%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"18.6","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"41%","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 is rotating through its trend references.","series":[{"label":"Close","values":[17.83,15.248,13.65,17.992,15.698,13.984,11.618,10.912,12.046,13.596,13.552,13.378,11.828,8.056,7.557,7.647,8.185,7.816,8.287,8.038,7.493,6.956,6.84,8.76,8.385,8.094,12.84,12.684,12.02,9.241,7.549,8.001,8.523,7.684,9.344,9.741,9.84,9.68,8.98,8.64,8.337,9.17],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,16.7006,16.2067,15.3724,14.5614,14.104,14.0117,13.9281,13.8281,13.4644,12.4811,11.5858,10.8696,10.3815,9.9151,9.6191,9.3316,8.9973,8.6262,8.3014,8.3848,8.3848,8.3319,9.1516,9.7938,10.1986,10.0245,9.5744,9.2883,9.1492,8.8828,8.9666,9.1074,9.2406,9.3205,9.2586,9.1461,8.999,9.0301],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,15.1348,14.6104,14.0879,13.6108,13.2089,12.8094,12.4744,12.1458,11.8012,11.4423,11.1014,10.9279,10.7396,10.5436,10.7137,10.8596,10.9456,10.8193,10.5771,10.3863,10.2482,10.0583,10.0054,9.9858,9.975,9.9532,9.8811,9.7891,9.6816,9.6437],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,18.8919,18.6307,18.3977,18.232,18.6511,18.9065,18.9783,18.9012,18.8232,18.6802,18.5437,17.6867,17.2773,17.0428,15.6482,14.6932,14.0431,14.2481,14.5016,14.4977,13.9243,13.2613,12.5173,12.0847,12.0827,12.1487,12.2439,12.3409,12.4117,12.4307,12.4356,12.4186,12.3789],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,9.6229,9.7559,9.853,9.6652,8.4043,7.3528,6.5957,6.1314,5.6872,5.4124,5.1481,4.9714,4.5516,4.1051,4.5765,4.8002,4.8613,4.7785,4.7022,4.7035,4.8414,4.9041,5.1104,5.2125,5.1773,5.29,5.4042,5.4727,5.5883,5.6386,5.6939,5.7953,6.0564],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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","2026-08-21"]},{"key":"drawdown","eyebrow":"Path risk","title":"Drawdown and recovery pressure","description":"Capital impairment and recovery are shown together so return is not separated from path difficulty.","reason":"Selected because the current recovery or drawdown path is central to the tape.","series":[{"label":"Drawdown","values":[0.0,-14.4812,-23.4436,0.0,-12.7501,-22.2766,-35.4269,-39.3508,-33.048,-24.4331,-24.6776,-25.6447,-34.2597,-55.2245,-57.998,-57.4978,-54.5076,-56.5585,-53.9406,-55.3246,-58.3537,-61.3384,-61.9831,-51.3117,-53.396,-55.0133,-28.635,-29.502,-33.1925,-48.6383,-58.0425,-55.5302,-52.6289,-57.2921,-48.0658,-45.8593,-45.309,-46.1983,-50.0889,-51.9787,-53.6627,-49.0329],"stroke":"#c13f3f","width":1.9,"fill":"rgba(193,63,63,.10)"},{"label":"Recovery","values":[null,null,null,null,null,null,null,0.0,10.3922,24.5968,24.1935,22.599,8.3944,0.0,0.0,1.1909,8.3102,3.4273,9.6599,6.365,0.0,0.0,0.0,28.0702,22.5877,18.3333,87.7193,85.4386,75.731,35.1023,10.3655,16.9737,24.6053,12.3392,36.6082,42.4123,43.8596,41.5205,31.2865,26.3158,21.886,34.0643],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Prior high","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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","2026-08-21"]},{"key":"participation","eyebrow":"Participation","title":"Activity pressure and cumulative balance","description":"Observed activity is compared with its normal backdrop while cumulative balance tracks directional participation.","reason":"Selected because participation is confirming or diverging from the latest price path.","series":[{"label":"Activity versus norm","values":[null,null,null,null,null,null,null,0.0,290.7814,599.0942,44.8161,359.6728,199.123,225.6891,122.222,0.0,0.0,1.8492,0.0,0.0,166.2935,93.2902,0.0,0.0,7.5547,133.529,1056.2625,6.122,520.4351,1129.4978,0.4741,1.7093,73.3741,35.2613,16.7529,21.7116,0.0,53.5187,44.809,1.2692,0.0123,3.4245],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,65.0,82.1505,135.0,131.7982,98.1621,77.8636,65.0,65.0,65.0,65.0,65.0,65.0,65.0,65.0,65.0,65.0,65.0,65.0,65.0,135.0,134.6152,91.46,65.0,65.0,65.0491,67.1977,66.1708,66.6565,67.293,67.293,65.6813,65.0,65.0,65.0,65.1014],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical activity","values":[100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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","2026-08-21"]},{"key":"volatility","eyebrow":"Risk geometry","title":"Range pressure and compression","description":"Movement pressure and envelope width show whether risk is expanding, settling or compressed.","reason":"Selected because current variability is unusually compressed or expanded versus this ticker's own tape.","series":[{"label":"Range pressure","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,24.0574,24.7007,22.9812,20.4877,20.4086,18.2797,18.0846,18.7053,19.2616,18.7749,15.1905,15.1861,14.9596,11.4746,11.2399,11.7957,16.5342,20.3953,18.3346,17.4146,19.0369,15.8057,14.3924,13.3018,13.0155,13.7597,13.655,13.4001,11.9654],"stroke":"#c13f3f","width":1.9},{"label":"Envelope width","values":[null,null,null,null,null,null,null,null,null,65.0121,62.5284,60.4918,61.4173,75.747,87.9972,96.8368,102.0253,107.1877,110.1402,113.0829,112.237,116.5948,122.3538,109.4873,101.5011,97.1392,99.5414,102.0561,102.0161,96.8036,92.0126,84.0379,79.4592,80.0156,78.6616,77.5129,77.1117,75.816,75.1793,74.3717,72.728,68.5912],"stroke":"#b87806","width":1.7}],"guides":[],"dates":["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","2026-08-21"]},{"key":"directional","eyebrow":"Trend quality","title":"Directional strength and control","description":"Directional pressure shows which side controls the tape while strength remains direction-neutral.","reason":"Selected because directional control or trend strength is materially changing.","series":[{"label":"Trend strength","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,42.5294,41.066,38.956,36.5926,35.1906,33.8887,31.7028,30.0914,28.317,26.4182,24.6138,23.0447,21.6414,20.6224,19.7959,18.6101],"stroke":"#10243b","width":2.0},{"label":"Positive direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,11.2237,10.8208,11.7985,13.3726,13.3675,13.0706,14.1074,13.5862,13.1972,12.7854,21.7636,21.119,20.6232,37.4961,37.2946,34.8221,30.0051,27.6498,26.9471,32.6184,30.7326,30.5674,32.0814,32.2792,33.5996,31.8127,30.9382,30.3389,32.2643],"stroke":"#07865c","width":1.6},{"label":"Negative direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,37.4268,36.5694,36.0685,35.0991,34.2629,33.502,32.4188,33.4277,35.3335,37.3513,33.4718,32.4804,32.5319,24.8258,23.8233,27.6243,33.7465,38.9472,37.9573,34.8355,36.9183,33.9543,33.2139,33.0345,31.8677,34.0518,35.8645,36.3781,34.3935],"stroke":"#c13f3f","width":1.6}],"guides":[],"dates":["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","2026-08-21"]},{"key":"impulse","eyebrow":"Price impulse","title":"Acceleration, deceleration and rollover","description":"The impulse path separates directional acceleration from a loss of momentum.","reason":"Selected because the latest impulse is unusually active or is approaching a change of direction.","series":[{"label":"Impulse","values":[null,null,null,null,null,null,null,null,null,null,null,null,-1.3907,-1.7415,-2.0362,-2.2368,-2.3255,-2.3979,-2.3898,-2.376,-2.3816,-2.4017,-2.3994,-2.217,-2.0788,-1.97,-1.4837,-1.0983,-0.8368,-0.844,-0.975,-1.0305,-1.0206,-1.0682,-0.9608,-0.8341,-0.7174,-0.6306,-0.6112,-0.6162,-0.6372,-0.58],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,-1.8316,-1.9449,-2.0338,-2.1023,-2.1581,-2.2069,-2.2454,-2.2397,-2.2075,-2.16,-2.0248,-1.8395,-1.6389,-1.4799,-1.379,-1.3093,-1.2516,-1.2149,-1.1641,-1.0981,-1.0219,-0.9437,-0.8772,-0.825,-0.7874,-0.7459],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,-0.4939,-0.4531,-0.3559,-0.2737,-0.2235,-0.1949,-0.154,0.0227,0.1287,0.19,0.541,0.7412,0.8022,0.6359,0.4039,0.2787,0.2309,0.1467,0.2032,0.264,0.3045,0.3131,0.266,0.2088,0.1502,0.1659],"stroke":"#07865c","width":1.0,"fill":"rgba(7,134,92,.12)"}],"guides":[{"label":"Neutral","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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","2026-08-21"]}]},"canonical_url":"https://sharemaestro.com/terminal/bbfa4993-bd68-433f-b26d-df0feec388e7/technical-pack/","technicals_url":"https://sharemaestro.com/terminal/bbfa4993-bd68-433f-b26d-df0feec388e7/technicals/","canonical_technicals_url":"https://sharemaestro.com/terminal/bbfa4993-bd68-433f-b26d-df0feec388e7/technicals/","distributions":{"pdf":"https://sharemaestro.com/terminal/bbfa4993-bd68-433f-b26d-df0feec388e7/technical-pack/download.pdf","json":"https://sharemaestro.com/terminal/bbfa4993-bd68-433f-b26d-df0feec388e7/technical-pack/data.json"},"source_fingerprint":"44429f4efe6174def2724a818345f59b3d0554de311a2a0b5f93b0708e659961","content_hash":"6dfd09e468832cef3cc19df7d4795f0ddad802ca9d1586758b014284489c3da6","citation":"Sharemaestro, APEN Technical Research Pack, completed week 2026-08-21, https://sharemaestro.com/terminal/bbfa4993-bd68-433f-b26d-df0feec388e7/technical-pack/","data_notes":{"time_series":"Parallel time-series arrays align by index with their dates array.","events":"Sparse chart markers are published as compact dated event records rather than null-filled arrays.","missing_values":"A remaining null in an aligned series means that observation is genuinely unavailable; zero remains a valid value."},"boundary":"Completed market observations and published proprietary outputs only. Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}