{"schema_version":"1.0","name":"SUGP Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"bf44aa6e-6a58-4d18-9a54-1cb64c4f8794","symbol":"SUGP","name":"SU Group Holdings Limited Ordinary Shares","exchange":"NASDAQ","country":"US","asset_type":"equity","currency":"USD","sector":"Industrials","industry":"Security & Protection Services"},"summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price structure remains downward.","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, Range position and boundary pressure, 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":"2026-08-14","observations":52,"displayedObservations":52,"assetType":"Equity","state":"Aligned downward","stateTone":"negative","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price structure remains downward.","evidenceAlignment":{"status":"Countertrend conflict","headline":"Improving Market Dynamics is challenging the downward price structure","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price structure remains downward.","take":"This is an early challenge rather than a confirmed reversal. Price must respond to the improvement before the downward technical state can be considered resolved.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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"],"values":[-1.357728,-1.978564,-2.564782,-2.781301,-2.974683,-3.065725,-3.057203,-3.254357,-3.336205,-3.506668,-3.53816,-3.503797,-3.431041,-3.18838,-2.914933,-2.500028,-2.160822,-2.011282,-1.812549,-1.789394,-1.68936,-1.509313,-1.350779,-1.093341],"opens":[25.15,26.25,25.4,24.65,25.0,25.05,25.0,22.25,21.425,20.95,22.325,17.7495,17.2,4.9505,4.095,4.847,5.15,4.2255,4.1445,2.9,2.5285,2.423,2.27,2.05],"highs":[25.7,26.5,25.95,26.34,25.7,25.55,25.0,24.666,22.2,22.25,22.35,28.55,17.2,8.95,5.85,12.75,5.6,4.297,4.8,2.9,2.9,2.495,2.7,2.3],"lows":[24.3,25.2505,23.95,24.1625,24.75,24.107,22.75,21.0,20.8315,20.089,13.877,14.85,4.45,3.301005,3.7455,4.37625,3.955,3.83505,2.9535,2.495,2.1,2.225,1.165,1.86],"closes":[25.7,25.3,24.4,25.5,25.3,24.75,23.45,22.225,21.65,21.606,18.2995,17.175,5.1,4.978,4.7,5.1,4.27,4.125,3.085,2.559,2.405,2.27,2.08,1.98],"hoverRows":[[{"label":"Open","value":"25.1","className":"is-ohlc","compact":true},{"label":"High","value":"25.7","className":"is-ohlc","compact":true},{"label":"Low","value":"24.3","className":"is-ohlc","compact":true},{"label":"Close","value":"25.7","className":"is-ohlc","compact":true},{"label":"Market 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A green marker is required before the recovery is treated as confirmed.","tone":"caution"},"chartSummary":"Price is in the accumulation zone. The Market Dynamics bars show whether underlying conditions are repairing or continuing to weaken.","summary":"Price is within accumulation conditions while Market Dynamics is improving. A green marker is required before the recovery is treated as confirmed.","annotations":[{"label":"Current tape relationship","value":"Accumulation repair watch","detail":"Market Dynamics improved this week but remains below zero.","tone":"caution"},{"label":"Price location","value":"Accumulation zone","detail":"Price is being tested for a confirmed recovery through the lower zone.","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":"Repairing","detail":"Underlying support has strengthened across the recent completed path.","tone":"positive"}],"relationshipEvidence":{"available":false,"observations":24,"summary":"More completed weekly history is needed for a dependable ticker-level 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ation":true,"latest":{"consensus":-28.9,"control":-37.2,"force":-8.3,"direction":-34.1,"confirmation":84.5,"persistence":100.0,"assessmentRisk":5.4,"intensity":9.8,"evidenceDepth":100},"analysis":{"status":"Joint downward confirmation","headline":"The gauges support the downward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same downward assessment.","take":"Current assessment: downward pressure has broad support.","tone":"negative","supportedView":"Price structure and Market Dynamics","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":"Commitment is easing","directionState":"Downward follow-through","persistenceState":"Established","confirmationState":"Strong support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-28.9","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-37.2","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-8.3","detail":"Commitment is limited","tone":"negative"},{"label":"SM Direction Gauge","value":"-34.1","detail":"Downward 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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 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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,355.6012,54.2733,103.3495,17.7057,6.6849,17.7719,59.589,26.1102,202.8872,343.961,38.8827,24.0231,13.4367,58.059,256.1423,47.093,18.575,21.4664,4.4458,10.6886,6.6789,3.9021,3.1188,3.4938,2.9564,2.6997,3.5504,4.0503,7.456,12.2849,8.8803,87.9959,759.4624,701.2364,1799.0959,261.0327,1507.9527,145.3452,7.6019,378.2742,9.5109,15.6745,19.1723,28.7631,6.6699],"stroke":"#1678a7","width":1.8},{"label":"Cumulative 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