{"schema_version":"1.0","name":"XS4 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"c8ee152e-6871-4f80-9794-66687c6848c7","symbol":"XS4","name":"ON Semiconductor Corporation","exchange":"GER","country":"DE","asset_type":"equity","currency":"EUR","sector":"Technology","industry":"Semiconductors"},"summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","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, Strength versus the research benchmark, Drawdown and recovery pressure, Acceleration, deceleration and rollover, Activity pressure and cumulative balance, 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":260,"displayedObservations":104,"assetType":"Equity","state":"Rotational","stateTone":"caution","summary":"Market Dynamics weakened this week and remains below zero. 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record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":1.1,"sample":18},{"week":2,"averageReturn":1.1,"sample":18},{"week":3,"averageReturn":1.7,"sample":18},{"week":4,"averageReturn":5.3,"sample":18},{"week":5,"averageReturn":2.9,"sample":18},{"week":6,"averageReturn":4.6,"sample":18},{"week":7,"averageReturn":6.5,"sample":18},{"week":8,"averageReturn":8.1,"sample":17},{"week":9,"averageReturn":9.9,"sample":17},{"week":10,"averageReturn":10.6,"sample":17},{"week":11,"averageReturn":9.7,"sample":17},{"week":12,"averageReturn":9.6,"sample":17},{"week":13,"averageReturn":8.1,"sample":17},{"week":14,"averageReturn":8.4,"sample":17},{"week":15,"averageReturn":6.4,"sample":17},{"week":16,"averageReturn":4.5,"sample":17},{"week":17,"averageReturn":5.4,"sample":17},{"week":18,"averageReturn":6.2,"sample":17},{"week":19,"averageReturn":4.5,"sample":17},{"week":20,"averageReturn":4.7,"sample":17},{"week":21,"averageReturn":4.9,"sample":17},{"week":22,"averageReturn":5.4,"sample":17},{"week":23,"averageReturn":5.5,"sample":17},{"week":24,"averageReturn":3.0,"sample":16},{"week":25,"averageReturn":1.3,"sample":16},{"week":26,"averageReturn":1.2,"sample":16}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":0,"completedEpisodes":0,"activeEpisodes":0,"horizons":[{"weeks":4,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":12,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"sample":0},{"week":2,"sample":0},{"week":3,"sample":0},{"week":4,"sample":0},{"week":5,"sample":0},{"week":6,"sample":0},{"week":7,"sample":0},{"week":8,"sample":0},{"week":9,"sample":0},{"week":10,"sample":0},{"week":11,"sample":0},{"week":12,"sample":0},{"week":13,"sample":0},{"week":14,"sample":0},{"week":15,"sample":0},{"week":16,"sample":0},{"week":17,"sample":0},{"week":18,"sample":0},{"week":19,"sample":0},{"week":20,"sample":0},{"week":21,"sample":0},{"week":22,"sample":0},{"week":23,"sample":0},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]},"currentApplication":{"status":"Underlying support lags price","tone":"caution","headline":"Price is leading its underlying support","use":"Market Dynamics must catch up or price may correct toward the weaker underlying position.","confirm":"This is a downside risk watch, not a completed reversal. Stronger Market Dynamics or weaker price is needed to close the gap.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"weakening","zone":"middle","zoneContext":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":29.4,"averageReturn":12.4,"sample":17},"nowContext":{"label":"Easier this week","detail":"Market Dynamics weakened this week and remains below zero."},"fourWeekContext":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"priceContext":{"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."}},"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":"Divergence control","title":"Do not chase price while the underlying evidence lags","tone":"caution","approach":"Use the gap to review position size, protect gains and wait for either Market Dynamics to catch up or price to correct. The disagreement is a warning condition, not an automatic exit.","finding":"In this ticker's completed record, 29.4% of comparable cases moved lower after 12 weeks, with an average move of 12.4% across 17 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 2 cases. Distinct visits lasted 3.5 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 unsupported price strength to tighten discipline","tone":"caution","finding":"Comparable disagreements produced an average pullback of 9.5% across 17 completed cases, with the largest move arriving after 6.1 weeks on average.","approach":"Avoid adding simply because price is rising. Let improving Market Dynamics confirm the move, or let price reset before reassessing it.","watch":"The warning ends when Market Dynamics catches up or price gives way."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[{"date":"2025-05-30","price":37.575001}],"distribution_rollovers":[{"date":"2026-06-26","price":82.330002}],"price_pressure_gaps":[]}},"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":[67.74,70.12,61.65,64.65,62.02,67.11,65.17,65.18,63.96,66.5,66.05,65.41,61.75,65.94,68.46,63.07,62.79,61.0,63.34,60.95,54.87,53.2,52.4,51.26,49.415,48.7,51.68,45.32,40.495,39.57,39.88,38.9,34.835,28.905,30.05,34.49,36.57,36.13,39.92,36.31,37.575,44.655,44.7,46.165,45.465,47.765,50.46,51.48,47.67,48.15,41.155,43.745,42.355,43.025,42.43,41.495,42.96,42.605,41.945,41.0,44.1,44.0,44.075,42.555,41.185,39.86,43.4,47.95,47.34,46.52,47.03,48.545,53.68,52.56,52.38,50.92,55.0,59.54,58.62,55.98,49.92,50.94,51.11,51.19,53.47,58.5,70.22,83.67,85.82,86.69,97.71,98.52,103.78,105.52,102.4,104.0,82.33,82.84,83.88,75.78,76.84,72.43,70.43,70.75],"consensus":[16.3471,44.7474,-47.86,12.7873,-45.5983,34.5231,0.0,11.567,-18.8369,28.4017,0.0,0.0,-41.4534,30.2939,31.4238,-41.6764,-15.5222,-39.0366,8.2267,-39.4856,-69.5921,-47.2353,-46.6987,-46.3073,-51.2616,-32.7093,0.0,-67.0942,-78.241,-52.4664,-34.448,-57.0664,-72.8235,-77.3513,-36.9133,0.0,9.3423,-8.6981,28.8331,-40.7582,0.0,65.3454,21.275,43.0887,15.185,53.5863,61.8595,56.4482,-13.5051,13.3546,-57.016,0.0,-29.5318,-11.0961,0.0,-17.1291,17.8973,-18.0238,-14.1943,-29.0606,39.5058,0.0,0.0,-19.7158,-35.9633,-33.0186,31.436,63.5306,18.4835,15.9948,15.7463,44.3442,78.9779,28.6862,36.534,0.0,65.9374,71.3661,18.5995,0.0,-53.777,0.0,-23.0855,-12.6427,41.0465,56.9094,76.1121,85.7759,69.5267,45.8916,84.0093,60.1078,56.8345,32.9298,43.3972,40.008,-56.3278,0.0,-21.9619,-61.55,-33.2615,-52.5859,-42.0391,-36.0675],"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":[-29.4406,-9.164,0.0,-14.2951,14.2866,-25.9294,-17.4254,-36.0933,36.5441,0.0,0.0,-24.1426,-30.5539,-29.2062,42.5492,56.8097,6.4591,10.7191,2.2099,56.2132,80.693,23.8833,32.6183,0.0,67.8524,66.0531,9.014,0.0,-49.2139,0.0,-21.4149,-5.1635,38.0911,62.5001,84.4551,89.5436,69.2977,34.7055,82.8082,62.4848,44.8815,16.0745,50.7275,34.8483,-50.5499,0.0,-17.2338,-53.4517,-37.2224,-48.2181,-34.2585,-37.3486],"force":[-31.0787,-3.5949,0.0,-8.4134,50.4796,-18.6083,-9.9068,-31.2333,76.5756,0.0,0.0,-45.0509,-54.4998,-29.5609,51.744,91.131,5.8596,14.5272,0.2172,35.8838,96.0697,9.4102,14.0986,0.0,87.9029,88.9764,25.3033,0.0,-94.1542,0.0,-22.1472,-10.7748,69.9632,57.0522,75.9374,94.1711,58.8708,20.5751,92.7714,32.2721,49.0585,1.0002,5.8265,19.7515,-96.8761,0.0,-13.5587,-82.786,-9.8852,-52.2481,-28.6036,-11.6541],"direction":[-28.531,-23.7978,0.0,-26.5935,1.2492,-8.5712,-13.5643,-19.4713,16.4121,0.0,0.0,-3.4398,-28.905,-39.8454,4.2294,51.497,49.6135,43.8258,42.6188,36.8229,64.8094,61.3869,57.0344,0.0,48.0593,64.8592,60.9135,0.0,-30.151,0.0,-25.6648,-22.5246,23.7692,50.4181,66.7019,75.4735,77.3998,76.7589,79.1234,77.2739,76.0493,74.9999,61.8559,60.3738,-33.968,0.0,-33.3679,-55.6366,-45.4321,-57.8191,-60.528,-52.0415],"intensity":[13.4615,7.6923,34.6154,13.4615,53.8462,48.0769,28.8462,13.4615,57.6923,57.6923,28.8462,30.7692,61.5385,23.0769,65.3846,80.7692,80.7692,21.1538,19.2308,26.9231,82.6923,32.6923,9.6154,21.1538,73.0769,92.3077,82.6923,46.1538,90.3846,75.0,61.5385,28.8462,40.3846,88.4615,100.0,100.0,96.1538,73.0769,96.1538,82.6923,100.0,73.0769,90.3846,88.4615,100.0,94.2308,34.6154,88.4615,53.8462,82.6923,46.1538,55.7692],"confirmation":[77.4987,49.2327,1.4441,73.2589,52.375,73.665,72.3623,77.2584,81.8167,3.4605,4.1977,53.0809,80.1556,78.5187,55.8424,89.2733,29.2728,30.0344,27.4716,81.7515,93.7677,32.7659,79.0668,31.5305,89.7402,91.4548,32.8246,32.3877,86.5087,27.8972,75.3842,49.436,82.0612,86.1302,92.2234,95.6467,89.9273,82.0842,95.1683,86.3499,86.1322,55.1546,57.9637,80.2639,87.3487,5.1884,74.8438,88.4666,77.8709,84.8838,81.1616,78.778],"persistence":[12.5,12.5,25.0,50.0,25.0,50.0,50.0,62.5,37.5,25.0,25.0,25.0,50.0,50.0,25.0,0.0,0.0,12.5,25.0,50.0,75.0,100.0,100.0,87.5,87.5,87.5,87.5,75.0,50.0,37.5,12.5,0.0,0.0,0.0,0.0,12.5,37.5,50.0,75.0,100.0,100.0,100.0,100.0,100.0,75.0,62.5,37.5,12.5,12.5,37.5,62.5,87.5],"assessmentRisk":[31.569,40.3793,23.0194,26.1925,2.3842,1.0642,2.4175,4.1485,1.3883,26.3724,35.9376,49.9879,31.0623,33.3569,35.7405,17.8074,40.5689,41.8879,39.7247,7.4439,10.1464,35.21,30.9036,37.8524,7.9573,13.962,40.0981,46.2238,19.9368,48.563,37.8399,39.9114,20.9818,20.9293,11.9329,7.1116,15.2363,27.0525,7.9898,19.4801,21.4681,33.5092,15.4216,20.6004,21.2395,45.6757,37.838,19.1179,14.9995,18.0759,26.4487,14.4304],"volumeParticipation":true,"latest":{"consensus":-36.1,"control":-37.3,"force":-11.7,"direction":-52.0,"confirmation":78.8,"persistence":87.5,"assessmentRisk":14.4,"intensity":55.8,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the downward view","summary":"The completed evidence gives the downward view the clearer support.","take":"Current assessment: downward pressure has the stronger support.","tone":"negative","supportedView":"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":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-36.1","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-37.3","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-11.7","detail":"Commitment is limited","tone":"negative"},{"label":"SM Direction Gauge","value":"-52.0","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"79/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"45.6","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"10.7%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"27.7","detail":"Directional","tone":"positive"},{"label":"Range position","value":"34%","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":[67.74,70.12,61.65,64.65,62.02,67.11,65.17,65.18,63.96,66.5,66.05,65.41,61.75,65.94,68.46,63.07,62.79,61.0,63.34,60.95,54.87,53.2,52.4,51.26,49.415,48.7,51.68,45.32,40.495,39.57,39.88,38.9,34.835,28.905,30.05,34.49,36.57,36.13,39.92,36.31,37.575,44.655,44.7,46.165,45.465,47.765,50.46,51.48,47.67,48.15,41.155,43.745,42.355,43.025,42.43,41.495,42.96,42.605,41.945,41.0,44.1,44.0,44.075,42.555,41.185,39.86,43.4,47.95,47.34,46.52,47.03,48.545,53.68,52.56,52.38,50.92,55.0,59.54,58.62,55.98,49.92,50.94,51.11,51.19,53.47,58.5,70.22,83.67,85.82,86.69,97.71,98.52,103.78,105.52,102.4,104.0,82.33,82.84,83.88,75.78,76.84,72.43,70.43,70.75],"stroke":"#10243b","width":2.1},{"label":"Fast 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