{"schema_version":"1.0","name":"9425 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"bd9c90d9-a318-4f3d-8da9-3e67d1ff8e03","symbol":"9425","name":"Microbit Funds Series (Hong Kong) Etf Ofc - Microbit Ether Spot Etf","exchange":"HKG","country":"HK","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened 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, Range position and boundary pressure, Drawdown and recovery pressure, Acceleration, deceleration and rollover, Range pressure and compression, Directional strength and control."},{"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 strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price remains elevated in the distribution zone.","evidenceAlignment":{"status":"Unsupported elevation","headline":"Price remains elevated without full Market Dynamics support","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price remains elevated in the distribution zone.","take":"This is a downside warning, not a confirmed reversal. Stronger Market Dynamics would repair the gap; weaker price would begin to confirm it.","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":[0.071049,0.06443,-0.04924,-0.185551,-0.271759,-0.374939,-0.433525,-0.403181,-0.400279,-0.310244,-0.17284,-0.076687,0.014681,0.127323],"opens":[0.502,0.496,0.388,0.398,0.411,0.378,0.408,0.422,0.435,0.442,0.464,0.438,0.458,0.453],"highs":[0.505,0.496,0.397,0.398,0.423,0.378,0.408,0.422,0.435,0.458,0.464,0.452,0.458,0.564],"lows":[0.502,0.469,0.388,0.398,0.41,0.378,0.408,0.422,0.435,0.442,0.447,0.438,0.445,0.451],"closes":[0.504,0.473,0.397,0.398,0.417,0.378,0.408,0.422,0.435,0.451,0.449,0.452,0.446,0.561],"hoverRows":[[{"label":"Open","value":"0.50","className":"is-ohlc","compact":true},{"label":"High","value":"0.51","className":"is-ohlc","compact":true},{"label":"Low","value":"0.50","className":"is-ohlc","compact":true},{"label":"Close","value":"0.50","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.07","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"0.50","className":"is-ohlc","compact":true},{"label":"High","value":"0.50","className":"is-ohlc","compact":true},{"label":"Low","value":"0.47","className":"is-ohlc","compact":true},{"label":"Close","value":"0.47","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.06","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"0.39","className":"is-ohlc","compact":true},{"label":"High","value":"0.40","className":"is-ohlc","compact":true},{"label":"Low","value":"0.39","className":"is-ohlc","compact":true},{"label":"Close","value":"0.40","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.05","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"0.40","className":"is-ohlc","compact":true},{"label":"High","value":"0.40","className":"is-ohlc","compact":true},{"label":"Low","value":"0.40","className":"is-ohlc","compact":true},{"label":"Close","value":"0.40","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.19","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"0.41","className":"is-ohlc","compact":true},{"label":"High","value":"0.42","className":"is-ohlc","compact":true},{"label":"Low","value":"0.41","className":"is-ohlc","compact":true},{"label":"Close","value":"0.42","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.27","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"0.38","className":"is-ohlc","compact":true},{"label":"High","value":"0.38","className":"is-ohlc","compact":true},{"label":"Low","value":"0.38","className":"is-ohlc","compact":true},{"label":"Close","value":"0.38","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.37","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"0.41","className":"is-ohlc","compact":true},{"label":"High","value":"0.41","className":"is-ohlc","compact":true},{"label":"Low","value":"0.41","className":"is-ohlc","compact":true},{"label":"Close","value":"0.41","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.43","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"0.42","className":"is-ohlc","compact":true},{"label":"High","value":"0.42","className":"is-ohlc","compact":true},{"label":"Low","value":"0.42","className":"is-ohlc","compact":true},{"label":"Close","value":"0.42","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.40","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"0.43","className":"is-ohlc","compact":true},{"label":"High","value":"0.43","className":"is-ohlc","compact":true},{"label":"Low","value":"0.43","className":"is-ohlc","compact":true},{"label":"Close","value":"0.43","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.40","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"0.44","className":"is-ohlc","compact":true},{"label":"High","value":"0.46","className":"is-ohlc","compact":true},{"label":"Low","value":"0.44","className":"is-ohlc","compact":true},{"label":"Close","value":"0.45","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.31","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"0.46","className":"is-ohlc","compact":true},{"label":"High","value":"0.46","className":"is-ohlc","compact":true},{"label":"Low","value":"0.45","className":"is-ohlc","compact":true},{"label":"Close","value":"0.45","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.17","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"0.44","className":"is-ohlc","compact":true},{"label":"High","value":"0.45","className":"is-ohlc","compact":true},{"label":"Low","value":"0.44","className":"is-ohlc","compact":true},{"label":"Close","value":"0.45","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.08","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"0.46","className":"is-ohlc","compact":true},{"label":"High","value":"0.46","className":"is-ohlc","compact":true},{"label":"Low","value":"0.45","className":"is-ohlc","compact":true},{"label":"Close","value":"0.45","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.01","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"0.45","className":"is-ohlc","compact":true},{"label":"High","value":"0.56","className":"is-ohlc","compact":true},{"label":"Low","value":"0.45","className":"is-ohlc","compact":true},{"label":"Close","value":"0.56","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.13","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[0.36702,0.57198],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":0.127323,"state":"Price ahead of Market Dynamics","context":{"scenario":"priceAhead","latestDirection":"strengthening","fourWeekDirection":"strengthening","now":{"label":"Stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeek":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened 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":"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":"None in view","detail":"Entering the lower zone alone does not create a positioning confirmation.","tone":"neutral"},{"label":"Market Dynamics confirmation","value":"Not confirming","detail":"Market Dynamics has strengthened over four weeks, but it still lags the elevated price.","tone":"caution"}],"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":[0.797,0.762,0.648,0.718,0.756,0.768,0.695,0.701,0.711,0.737,0.784,0.698,0.648,0.452,0.46,0.465,0.481,0.492,0.496,0.507,0.488,0.488,0.516,0.551,0.547,0.535,0.54,0.536,0.504,0.473,0.397,0.398,0.417,0.378,0.408,0.422,0.435,0.451,0.449,0.452,0.446,0.561],"consensus":[-87.0968,-86.1386,-100.0,77.3585,0.0,0.0,-29.4402,-30.2419,0.0,-13.0566,49.0904,-46.0925,-47.9178,-74.923,-56.8466,-29.8021,-21.3749,0.0,0.0,-24.1988,-34.2353,-27.438,-13.7781,35.0995,0.0,-12.8281,0.0,-17.1421,-25.2072,-47.1376,-47.0225,-36.3154,-17.3183,-48.3689,-11.1407,0.0,0.0,23.5194,0.0,23.5828,-10.7901,66.2773],"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,0.0,-40.8736,-36.1708,0.0,-11.4616,44.4176,-52.5759,-51.0449,-84.5197,-58.1956,-9.6945,-4.6829,0.0,0.0,-39.3472,-49.473,-36.7005,-25.0009,26.6444,0.0,-29.9836,0.0,-26.3454,-24.1483,-57.5297,-30.283,-33.1215,-18.0133,-48.9719,-14.1874,0.0,0.0,13.7331,0.0,23.8665,-25.6766,69.3337],"force":[-87.0968,-86.1386,-100.0,77.3585,0.0,0.0,-33.1944,-24.5013,0.0,-17.0646,65.659,-67.0306,-33.8867,-51.7229,-24.5892,-3.5301,-9.829,0.0,0.0,-6.6838,-15.5348,-7.7329,-2.3018,72.5703,0.0,-21.8021,0.0,-20.7722,-20.7471,-36.2349,-58.3365,-9.729,-35.1983,-31.6435,-15.8041,0.0,0.0,40.4015,0.0,26.042,-15.2123,57.0611],"direction":[null,null,null,null,0.0,0.0,-13.6918,-27.5664,0.0,-12.0167,42.596,-23.7272,-54.3662,-80.5268,-78.3457,-76.5908,-62.7399,0.0,0.0,-19.3971,-30.1783,-30.9274,-9.1494,17.9975,0.0,-13.1883,0.0,-4.0311,-29.6031,-43.0486,-58.072,-58.9559,-54.036,-59.6263,-26.9049,0.0,0.0,22.6451,0.0,21.5021,-9.3818,69.3674],"intensity":[null,null,null,null,50.0,80.0,83.3333,14.2857,12.5,55.5556,50.0,90.9091,58.3333,100.0,42.8571,20.0,12.5,17.6471,5.5556,52.6316,40.0,9.5238,27.2727,39.1304,20.8333,16.0,3.8462,18.5185,60.7143,44.8276,93.3333,16.129,25.0,63.6364,35.2941,22.8571,22.2222,27.027,5.2632,23.0769,12.5,97.561],"confirmation":[50.5376,50.231,54.6667,47.4214,10.2652,25.0982,77.361,77.4121,4.7873,72.3246,84.2851,83.2889,82.8584,91.1221,85.1873,54.9136,8.2402,6.1749,5.441,52.3123,78.1532,53.3718,49.2216,80.5026,3.4485,29.5972,26.8873,50.7892,75.9465,82.5934,83.6471,78.8593,34.1064,82.9591,28.7356,26.8562,24.8335,76.1898,4.8682,75.6171,28.0289,88.8813],"persistence":[null,null,100.0,50.0,40.0,33.3333,42.8571,50.0,37.5,37.5,12.5,37.5,50.0,62.5,62.5,62.5,75.0,62.5,75.0,75.0,75.0,75.0,75.0,50.0,37.5,50.0,50.0,50.0,50.0,50.0,50.0,75.0,87.5,87.5,100.0,87.5,75.0,50.0,37.5,12.5,12.5,12.5],"assessmentRisk":[null,null,null,null,29.0052,1.0546,46.1312,1.2052,30.2421,19.3069,21.9079,20.4107,16.6426,12.5003,21.5628,34.9901,38.7468,31.5215,27.9023,41.7596,22.8072,10.4437,22.6981,13.6318,37.5646,40.7406,49.5865,30.4708,36.6629,26.2729,26.4858,31.8382,41.1484,25.6734,22.7504,36.8228,28.6972,37.6362,45.833,27.3123,23.7639,16.319],"volumeParticipation":true,"latest":{"consensus":66.3,"control":69.3,"force":57.1,"direction":69.4,"confirmation":88.9,"persistence":12.5,"assessmentRisk":16.3,"intensity":97.6,"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":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+66.3","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+69.3","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+57.1","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+69.4","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"89/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"55.6","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"7.0%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"33.0","detail":"Directional","tone":"positive"},{"label":"Range position","value":"98%","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":[0.797,0.762,0.648,0.718,0.756,0.768,0.695,0.701,0.711,0.737,0.784,0.698,0.648,0.452,0.46,0.465,0.481,0.492,0.496,0.507,0.488,0.488,0.516,0.551,0.547,0.535,0.54,0.536,0.504,0.473,0.397,0.398,0.417,0.378,0.408,0.422,0.435,0.451,0.449,0.452,0.446,0.561],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,0.7562,0.7583,0.7468,0.7385,0.7335,0.7341,0.7432,0.735,0.7192,0.6706,0.6323,0.6019,0.5799,0.5639,0.5516,0.5435,0.5334,0.5251,0.5235,0.5285,0.5318,0.5324,0.5338,0.5342,0.5287,0.5186,0.4965,0.4786,0.4674,0.4511,0.4433,0.4394,0.4386,0.4409,0.4423,0.4441,0.4444,0.4656],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,0.7485,0.7265,0.7068,0.6889,0.6735,0.66,0.6479,0.6374,0.6264,0.6161,0.6087,0.6044,0.6002,0.5954,0.5913,0.5872,0.581,0.573,0.56,0.548,0.5383,0.5264,0.5176,0.5105,0.5049,0.5009,0.4971,0.4938,0.4902,0.4955],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,0.8117,0.8189,0.8147,0.8165,0.8713,0.8907,0.8984,0.8988,0.8958,0.8913,0.8857,0.8674,0.8518,0.8478,0.8346,0.813,0.786,0.771,0.7533,0.7308,0.6978,0.6432,0.6071,0.5771,0.5843,0.5865,0.5873,0.5866,0.5849,0.5826,0.579,0.5769,0.5877],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,0.6469,0.6497,0.6478,0.6332,0.5394,0.4873,0.4516,0.4284,0.4124,0.4001,0.3919,0.3793,0.3675,0.3583,0.3548,0.3555,0.3592,0.3587,0.3599,0.3617,0.3683,0.3842,0.3903,0.3972,0.3826,0.3752,0.3701,0.3662,0.3638,0.3614,0.3595,0.3574,0.3539],"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":"range","eyebrow":"Acceptance map","title":"Range position and boundary pressure","description":"Price location inside its observed range shows whether the tape is pressing an outer boundary or rotating through value.","reason":"Selected because price is testing an observed boundary or moving rapidly through its recent range.","series":[{"label":"Range position","values":[null,null,null,null,null,null,null,22.4576,26.6949,37.7119,57.6271,21.1864,4.8387,0.6897,2.5287,3.6782,10.643,13.082,13.969,16.408,12.1951,12.1951,18.4035,26.1641,25.2772,22.6164,25.2955,29.0141,20.0,11.2676,2.25,2.5063,7.2682,0.0,7.335,10.7579,14.9606,22.0544,37.9679,39.5722,36.3636,97.861],"stroke":"#10243b","width":2.0},{"label":"From high","values":[null,null,null,null,null,null,null,-20.7014,-19.5701,-16.629,-11.3122,-21.0407,-26.6968,-48.8688,-47.9638,-47.3982,-45.5882,-44.3439,-43.8914,-42.6471,-44.7964,-44.7964,-41.629,-37.6697,-38.1222,-39.4796,-36.9159,-31.9797,-36.0406,-39.9746,-49.6193,-49.4282,-47.014,-51.9695,-48.1576,-46.3787,-42.6877,-36.3893,-20.531,-20.0,-21.0619,-0.708],"stroke":"#c13f3f","width":1.5},{"label":"From low","values":[null,null,null,null,null,null,null,8.179,9.7222,13.7346,20.9877,7.716,1.8868,0.6682,2.4499,3.5635,11.0855,13.6259,14.5497,17.0901,12.7021,12.7021,19.1686,27.2517,26.3279,23.5566,24.7113,23.7875,16.3972,9.2379,2.3196,2.5773,7.4742,0.0,7.9365,11.6402,15.0794,19.3122,18.7831,19.5767,17.9894,48.4127],"stroke":"#07865c","width":1.5}],"guides":[{"label":"Range centre","values":[50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0],"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":"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,-4.3915,-18.6951,-9.9122,-5.1443,-3.6386,-12.798,-12.0452,-10.7905,-7.5282,-1.6311,-12.4216,-18.6951,-43.2873,-42.2836,-41.6562,-39.6487,-38.2685,-37.7666,-36.3864,-38.7704,-38.7704,-35.2572,-30.8657,-31.3676,-32.8733,-32.2459,-32.7478,-36.7629,-40.6524,-50.1882,-50.0627,-47.6788,-52.5721,-48.808,-47.0514,-45.4203,-43.4128,-43.6637,-43.2873,-44.0402,-29.611],"stroke":"#c13f3f","width":1.9,"fill":"rgba(193,63,63,.10)"},{"label":"Recovery","values":[null,null,null,null,null,null,null,8.179,9.7222,13.7346,20.9877,7.716,0.0,0.0,1.7699,2.8761,6.4159,8.8496,9.7345,12.1681,7.9646,7.9646,14.1593,21.9027,21.0177,18.3628,19.469,18.5841,11.5044,4.646,0.0,0.2519,5.0378,0.0,7.9365,11.6402,15.0794,19.3122,18.7831,19.5767,17.9894,48.4127],"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":"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,-0.0242,-0.0441,-0.0586,-0.0689,-0.0749,-0.0778,-0.0789,-0.078,-0.0779,-0.077,-0.0731,-0.0665,-0.0608,-0.0567,-0.0524,-0.0487,-0.0479,-0.0491,-0.0556,-0.06,-0.0612,-0.0646,-0.0641,-0.0618,-0.0584,-0.0537,-0.0496,-0.0455,-0.0423,-0.0302],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,-0.0479,-0.0539,-0.0589,-0.0627,-0.0658,-0.068,-0.069,-0.0685,-0.067,-0.0649,-0.0624,-0.0597,-0.0573,-0.0557,-0.0557,-0.0565,-0.0575,-0.0589,-0.0599,-0.0603,-0.0599,-0.0587,-0.0568,-0.0546,-0.0521,-0.0477],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,-0.0269,-0.0239,-0.02,-0.0153,-0.0122,-0.009,-0.0041,0.002,0.0062,0.0082,0.01,0.011,0.0095,0.0066,0.0001,-0.0034,-0.0037,-0.0057,-0.0042,-0.0015,0.0016,0.005,0.0073,0.009,0.0098,0.0176],"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"]},{"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,18.9877,18.0391,16.6473,15.7311,14.7744,13.9973,13.4199,13.2832,12.5979,11.6723,10.7853,10.3363,10.0803,9.6043,9.158,9.5257,9.9535,12.5413,11.6341,10.7391,11.7379,10.6232,9.7741,9.0182,8.4412,8.1437,7.733,7.4855,7.0284],"stroke":"#c13f3f","width":1.9},{"label":"Envelope width","values":[null,null,null,null,null,null,null,null,null,22.5955,23.0491,22.8275,25.2865,47.0628,58.5581,66.1959,70.8822,73.9072,76.072,77.3054,78.2986,79.4295,81.1745,80.6628,78.3179,74.5315,73.002,70.6832,67.5635,61.8241,50.4038,43.4617,36.9216,41.7166,43.9591,45.373,46.2822,46.6035,46.8599,46.7567,47.0063,49.6795],"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,47.2085,45.3526,44.2637,43.7789,44.302,44.7566,44.402,44.4618,43.649,42.5105,41.0993,39.1853,37.2531,35.6456,33.9816,32.9557],"stroke":"#10243b","width":2.0},{"label":"Positive direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,7.4907,7.1941,7.1609,6.8026,7.558,7.3481,12.2114,11.9019,11.653,14.4842,17.5976,17.1752,16.7202,16.8332,16.5147,15.6793,14.8467,13.0363,13.1704,16.6328,15.5885,19.7618,21.7071,23.5603,26.859,27.1391,26.3627,26.9131,40.3627],"stroke":"#07865c","width":1.6},{"label":"Negative direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,32.3572,31.076,30.9326,31.9338,30.8669,30.0095,28.4342,29.9174,29.5241,27.9835,26.3354,25.7033,26.2144,25.3118,25.4151,29.188,32.6447,40.2844,40.2223,38.6184,41.3453,39.3012,38.3484,37.4407,35.825,34.6353,35.4835,34.4966,27.1224],"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"]}]},"canonical_url":"https://sharemaestro.com/terminal/bd9c90d9-a318-4f3d-8da9-3e67d1ff8e03/technical-pack/","technicals_url":"https://sharemaestro.com/terminal/bd9c90d9-a318-4f3d-8da9-3e67d1ff8e03/technicals/","canonical_technicals_url":"https://sharemaestro.com/terminal/bd9c90d9-a318-4f3d-8da9-3e67d1ff8e03/technicals/","distributions":{"pdf":"https://sharemaestro.com/terminal/bd9c90d9-a318-4f3d-8da9-3e67d1ff8e03/technical-pack/download.pdf","json":"https://sharemaestro.com/terminal/bd9c90d9-a318-4f3d-8da9-3e67d1ff8e03/technical-pack/data.json"},"source_fingerprint":"71c81edb36dcfba951ef806be1975c326651fa061f8c8826e76849ff8c64aa38","content_hash":"7b35cabfc00140e15ab518f6993393b8ce9f088963f1ad3e95da69a694a98402","citation":"Sharemaestro, 9425 Technical Research Pack, completed week 2026-08-21, https://sharemaestro.com/terminal/bd9c90d9-a318-4f3d-8da9-3e67d1ff8e03/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."}