{"schema_version":"1.0","name":"2575 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"c14343c1-3209-4cb8-8950-333ee2fb80c8","symbol":"2575","name":"Xuanzhu Biopharmaceutical Co., Ltd.","exchange":"HKG","country":"HK","asset_type":"equity","currency":"HKD","sector":"Healthcare","industry":"Drug Manufacturers - Specialty & Generic"},"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 position and boundary pressure, 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":45,"displayedObservations":45,"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":["2026-05-01","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"],"values":[-0.977186,-1.412556,-1.617007,-1.698723,-1.661486,-1.738798,-1.82854,-1.788219,-1.704084,-1.386475,-1.029003,-0.769322,-0.555606,-0.459971,-0.34784,-0.260087,-0.180705],"opens":[25.58,21.559999,21.299999,18.799999,17.5,17.01,17.200001,16.799999,14.25,14.1,13.24,13.41,12.6,11.5,10.99,12.7,12.16],"highs":[27.360001,23.219999,24.860001,23.379999,21.5,20.0,17.639999,17.67,14.25,14.77,13.97,13.41,12.6,12.25,13.17,13.45,12.83],"lows":[21.559999,19.6,18.200001,17.540001,15.4,16.82,15.91,15.85,12.61,13.9,12.82,12.08,11.1,10.6,10.92,12.13,11.0],"closes":[21.559999,21.299999,19.0,17.9,16.370001,17.51,16.23,16.75,12.78,14.25,12.88,12.6,11.74,10.99,12.48,12.36,11.06],"hoverRows":[[{"label":"Open","value":"25.6","className":"is-ohlc","compact":true},{"label":"High","value":"27.4","className":"is-ohlc","compact":true},{"label":"Low","value":"21.6","className":"is-ohlc","compact":true},{"label":"Close","value":"21.6","className":"is-ohlc","compact":true},{"label":"Market 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repair watch","detail":"Price is within accumulation conditions while Market Dynamics is improving. 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":17,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-10-17","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","2026-08-21"],"close":[33.9,59.6,63.6,64.95,63.95,63.2,63.0,64.75,82.95,71.25,70.45,65.2,63.5,70.65,62.55,64.35,69.3,63.2,62.15,66.0,50.0,50.0,43.0,35.1,31.06,32.36,33.56,24.82,21.56,21.3,19.0,17.9,16.37,17.51,16.23,16.75,12.78,14.25,12.88,12.6,11.74,10.99,12.48,12.36,11.06],"consensus":[98.8166,70.7288,-30.5786,-19.8857,56.3943,27.7094,15.9461,30.5779,71.8424,0.0,23.6791,0.0,0.0,35.7811,-28.7718,0.0,30.476,-26.5827,-14.4247,18.2714,-63.4667,-32.1316,-56.8994,-70.6108,-56.5278,-34.1825,-28.6607,-70.1471,-59.8118,-37.2681,-54.2602,-46.9954,-45.1105,-30.7997,-38.5099,-22.0046,-47.199,-24.5474,-40.2203,-30.6461,-27.6882,-34.2135,0.0,-22.8277,-33.609],"supportDates":["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","2026-08-21"],"control":[null,null,null,null,null,25.3935,13.1266,34.9959,61.1691,0.0,17.8893,0.0,0.0,41.2254,-25.0642,0.0,32.4777,-22.5964,-20.254,22.3283,-58.7501,-28.7166,-43.3122,-69.1703,-51.685,-32.1977,-27.0725,-71.257,-63.0676,-33.0833,-53.26,-50.8431,-47.7676,-35.4623,-45.7037,-24.5927,-58.7564,-25.6578,-50.7703,-33.0352,-34.02,-40.8997,0.0,-33.6578,-48.0971],"force":[98.8166,70.7288,-30.5786,-19.8857,4.2784,0.6042,8.5275,12.7442,84.1699,0.0,1.3294,0.0,0.0,43.4154,-50.2761,0.0,39.2088,-47.8379,-12.8415,29.5984,-87.5596,-15.408,-81.2409,-84.2925,-54.6526,-0.0429,-1.8425,-83.7907,-54.8031,-11.9472,-45.0719,-29.6961,-31.6619,-2.5055,-20.0576,-2.4281,-30.5575,-0.3349,-21.693,-11.3843,-9.8768,-16.6012,0.0,-9.6688,-23.9173],"direction":[null,null,null,null,93.6199,49.7168,36.6497,38.2673,75.2351,0.0,46.2601,0.0,0.0,24.1061,-17.649,0.0,21.9505,-15.9563,-8.8934,5.5442,-51.6478,-47.9797,-55.0408,-62.4845,-63.4019,-60.8977,-52.2638,-59.1331,-59.6687,-60.1369,-61.9665,-54.9547,-51.68,-45.6811,-43.4686,-36.4987,-45.8773,-40.5729,-41.3969,-41.6743,-33.1742,-39.1523,0.0,-19.8495,-23.9737],"intensity":[null,null,null,null,50.0,20.0,50.0,14.2857,87.5,66.6667,70.0,54.5455,75.0,76.9231,42.8571,26.6667,37.5,47.0588,77.7778,31.5789,85.0,47.619,63.6364,86.9565,54.1667,8.0,30.7692,55.5556,39.2857,31.0345,20.0,3.2258,21.875,6.0606,29.4118,2.8571,38.8889,5.4054,5.2632,5.1282,7.5,7.3171,19.0476,11.6279,13.6364],"confirmation":[54.288,45.2999,32.4518,29.0301,38.3304,53.4096,28.8857,77.1741,91.5279,34.6436,52.3177,28.0409,48.8864,79.5997,77.9189,24.6417,77.9879,77.215,72.4788,51.4636,89.1155,77.8245,87.1567,91.0344,86.1055,55.2681,53.9924,90.846,86.9375,79.2179,85.0985,82.4527,81.985,54.2559,79.6512,52.1087,82.4204,52.4337,80.1451,77.1833,76.2209,78.3097,4.8659,74.7388,86.2387],"persistence":[null,null,33.3333,0.0,20.0,33.3333,42.8571,50.0,50.0,37.5,62.5,75.0,62.5,62.5,37.5,25.0,25.0,12.5,12.5,0.0,12.5,37.5,37.5,50.0,75.0,75.0,75.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,87.5,87.5,87.5],"assessmentRisk":[null,null,null,null,21.4502,3.2778,11.1347,16.42,12.3218,32.062,19.5671,5.0242,44.6458,21.1047,26.1288,9.0602,18.5754,25.3372,4.46,1.9275,17.2198,32.3096,21.3767,14.6899,21.5214,32.5552,32.0858,12.1499,16.803,29.9789,22.5206,20.1335,17.3365,25.1085,14.9858,6.5444,19.7512,29.1718,22.5107,30.9148,15.8076,32.0183,10.3817,3.1303,5.1609],"volumeParticipation":true,"latest":{"consensus":-33.6,"control":-48.1,"force":-23.9,"direction":-24.0,"confirmation":86.2,"persistence":87.5,"assessmentRisk":5.2,"intensity":13.6,"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 strengthening","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Established","confirmationState":"Strong support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-33.6","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-48.1","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-23.9","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction 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tape.","series":[{"label":"Drawdown","values":[0.0,0.0,0.0,0.0,-1.5396,-2.6944,-3.0023,-0.3079,0.0,-14.1049,-15.0693,-21.3984,-23.4479,-14.8282,-24.5931,-22.4231,-16.4557,-23.8095,-25.0753,-20.434,-39.7227,-39.7227,-48.1615,-57.6854,-62.5558,-60.9885,-59.5419,-70.0784,-74.0084,-74.3219,-77.0946,-78.4207,-80.2652,-78.8909,-80.434,-79.8071,-84.5931,-82.821,-84.4726,-84.8101,-85.8469,-86.7511,-84.9548,-85.0995,-86.6667],"stroke":"#c13f3f","width":1.9,"fill":"rgba(193,63,63,.10)"},{"label":"Recovery","values":[null,null,null,null,null,null,null,91.0029,144.6902,110.177,107.8171,92.3304,87.3156,108.4071,84.5133,89.823,104.4248,86.4307,83.3333,94.6903,47.4926,47.4926,26.8437,3.5398,0.0,4.1855,8.0489,0.0,0.0,0.0,0.0,0.0,0.0,6.964,0.0,3.2039,0.0,11.5023,0.7825,0.0,0.0,0.0,13.5578,12.4659,0.6369],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Prior 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}