{"schema_version":"1.0","name":"TRAX Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"ce0ab258-fd50-40fc-b717-6468d812c623","symbol":"TRAX","name":"First Tracks Biotherapeutics","exchange":"NASDAQ","country":"US","asset_type":"equity","currency":"USD","sector":"Healthcare","industry":"Biotechnology"},"summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","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, Completed returns and cumulative progression, Range expansion and closing direction, Acceleration, deceleration and rollover, Range pressure and compression, Drawdown and recovery pressure."},{"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":17,"displayedObservations":17,"assetType":"Equity","state":"Aligned upward","stateTone":"positive","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","evidenceAlignment":{"status":"Evidence developing","headline":"Price structure is visible; Market Dynamics is not yet established","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","take":"Treat movement through the zones as price-location context only. Reaching the upper zone shows extension, but without an established Market Dynamics read it does not by itself establish active distribution, divergence or reversal risk.","tone":"neutral","conflict":false},"marketDynamics":{"available":true,"readAvailable":false,"dates":["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":[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],"opens":[20.51,17.78,21.52,19.42,16.79,17.2,15.85,17.08,18.0,17.52,16.25,19.23,35.66,36.48,43.37,43.49,45.71],"highs":[21.65,25.58,22.8,20.41,18.15,17.8,18.47,17.97,19.71,19.1,20.22,38.4889,39.67,42.9,47.995,49.5809,49.9114],"lows":[14.79,17.44,17.5,15.5701,15.405,15.2562,14.72,15.335,16.78,15.705,15.685,18.49,33.255,34.72,39.6,42.05,42.41],"closes":[18.16,22.38,19.54,16.9,17.18,15.96,16.6,17.64,17.42,16.03,19.3,36.24,36.515,35.52,44.04,45.33,44.04],"hoverRows":[[{"label":"Open","value":"20.5","className":"is-ohlc","compact":true},{"label":"High","value":"21.6","className":"is-ohlc","compact":true},{"label":"Low","value":"14.8","className":"is-ohlc","compact":true},{"label":"Close","value":"18.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"17.8","className":"is-ohlc","compact":true},{"label":"High","value":"25.6","className":"is-ohlc","compact":true},{"label":"Low","value":"17.4","className":"is-ohlc","compact":true},{"label":"Close","value":"22.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}],[{"label":"Open","value":"21.5","className":"is-ohlc","compact":true},{"label":"High","value":"22.8","className":"is-ohlc","compact":true},{"label":"Low","value":"17.5","className":"is-ohlc","compact":true},{"label":"Close","value":"19.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"Reversal danger","className":"is-negative","wide":true}],[{"label":"Open","value":"19.4","className":"is-ohlc","compact":true},{"label":"High","value":"20.4","className":"is-ohlc","compact":true},{"label":"Low","value":"15.6","className":"is-ohlc","compact":true},{"label":"Close","value":"16.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"16.8","className":"is-ohlc","compact":true},{"label":"High","value":"18.1","className":"is-ohlc","compact":true},{"label":"Low","value":"15.4","className":"is-ohlc","compact":true},{"label":"Close","value":"17.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"17.2","className":"is-ohlc","compact":true},{"label":"High","value":"17.8","className":"is-ohlc","compact":true},{"label":"Low","value":"15.3","className":"is-ohlc","compact":true},{"label":"Close","value":"16.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"15.8","className":"is-ohlc","compact":true},{"label":"High","value":"18.5","className":"is-ohlc","compact":true},{"label":"Low","value":"14.7","className":"is-ohlc","compact":true},{"label":"Close","value":"16.6","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"17.1","className":"is-ohlc","compact":true},{"label":"High","value":"18.0","className":"is-ohlc","compact":true},{"label":"Low","value":"15.3","className":"is-ohlc","compact":true},{"label":"Close","value":"17.6","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"18.0","className":"is-ohlc","compact":true},{"label":"High","value":"19.7","className":"is-ohlc","compact":true},{"label":"Low","value":"16.8","className":"is-ohlc","compact":true},{"label":"Close","value":"17.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"17.5","className":"is-ohlc","compact":true},{"label":"High","value":"19.1","className":"is-ohlc","compact":true},{"label":"Low","value":"15.7","className":"is-ohlc","compact":true},{"label":"Close","value":"16.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"16.2","className":"is-ohlc","compact":true},{"label":"High","value":"20.2","className":"is-ohlc","compact":true},{"label":"Low","value":"15.7","className":"is-ohlc","compact":true},{"label":"Close","value":"19.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.2","className":"is-ohlc","compact":true},{"label":"High","value":"38.5","className":"is-ohlc","compact":true},{"label":"Low","value":"18.5","className":"is-ohlc","compact":true},{"label":"Close","value":"36.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}],[{"label":"Open","value":"35.7","className":"is-ohlc","compact":true},{"label":"High","value":"39.7","className":"is-ohlc","compact":true},{"label":"Low","value":"33.3","className":"is-ohlc","compact":true},{"label":"Close","value":"36.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"Reversal danger","className":"is-negative","wide":true}],[{"label":"Open","value":"36.5","className":"is-ohlc","compact":true},{"label":"High","value":"42.9","className":"is-ohlc","compact":true},{"label":"Low","value":"34.7","className":"is-ohlc","compact":true},{"label":"Close","value":"35.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"43.4","className":"is-ohlc","compact":true},{"label":"High","value":"48.0","className":"is-ohlc","compact":true},{"label":"Low","value":"39.6","className":"is-ohlc","compact":true},{"label":"Close","value":"44.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}],[{"label":"Open","value":"43.5","className":"is-ohlc","compact":true},{"label":"High","value":"49.6","className":"is-ohlc","compact":true},{"label":"Low","value":"42.0","className":"is-ohlc","compact":true},{"label":"Close","value":"45.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"Reversal danger","className":"is-negative","wide":true}],[{"label":"Open","value":"45.7","className":"is-ohlc","compact":true},{"label":"High","value":"49.9","className":"is-ohlc","compact":true},{"label":"Low","value":"42.4","className":"is-ohlc","compact":true},{"label":"Close","value":"44.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[14.1978,47.0922],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"state":"Insufficient history","context":{"scenario":"developing","latestDirection":"steady","fourWeekDirection":"steady","now":{"label":"Little changed this week","detail":"Market Dynamics remains positive and was little changed this week."},"fourWeek":{"label":"Broadly steady over four weeks","detail":"The broader path has not changed enough to establish a new direction."},"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":"Zone progression","detail":"Across the displayed history, price has progressed from the lower accumulation area, through the middle range and into the upper positioning zone. This describes price location only; it does not establish active distribution or a reversal.","tone":"neutral"},"chartSummary":"Price is in the distribution zone. The Market Dynamics bars show whether underlying support is keeping pace with that elevated price.","summary":"Across the displayed history, price has progressed from the lower accumulation area, through the middle range and into the upper positioning zone. This describes price location only; it does not establish active distribution or a reversal.","annotations":[{"label":"Current tape relationship","value":"Zone progression","detail":"Market Dynamics remains positive and was little changed this week.","tone":"neutral"},{"label":"Price location","value":"Upper positioning zone","detail":"Price is in the area labelled as the distribution zone on the chart. With limited Market Dynamics history, the label describes location and extension only.","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":"Unavailable","detail":"Too little usable Market Dynamics history is available for a directional confirmation read.","tone":"neutral"}],"relationshipEvidence":{"available":false,"observations":17,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-05-01","price":22.38},{"date":"2026-07-10","price":36.24},{"date":"2026-07-31","price":44.04}],"reversal_dangers":[{"date":"2026-05-08","price":19.54},{"date":"2026-07-17","price":36.515},{"date":"2026-08-07","price":45.33}]}},"smTape":{"available":true,"dates":["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":[18.16,22.38,19.54,16.9,17.18,15.96,16.6,17.64,17.42,16.03,19.3,36.24,36.515,35.52,44.04,45.33,44.04],"consensus":[0.0,21.3759,-23.0189,-26.1257,-8.5607,-27.3566,-8.5603,12.3399,0.0,-22.9797,33.6746,78.6114,45.4556,26.9623,67.9685,46.3916,22.8478],"supportDates":["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":[null,null,null,null,null,-24.3077,-2.1816,15.8603,0.0,-27.7701,32.9177,66.7417,36.5672,9.689,55.403,38.2438,13.0746],"force":[0.0,21.3759,-23.0189,-26.1257,-3.6261,-20.4341,-0.6381,21.0636,0.0,-30.8195,46.5315,96.9855,15.4356,9.9372,73.0117,20.9844,11.5409],"direction":[null,null,null,null,-17.2655,-35.7856,-21.509,2.0853,0.0,-11.9052,25.3559,79.0525,77.0567,73.0599,78.7268,73.8513,58.5804],"intensity":[null,null,null,null,25.0,20.0,16.6667,28.5714,50.0,44.4444,90.0,100.0,91.6667,69.2308,85.7143,46.6667,25.0],"confirmation":[0.5598,29.507,30.0327,31.0269,26.0093,76.5896,25.2617,49.4943,47.8951,75.5194,79.1792,93.8965,81.7663,32.5532,90.0951,82.1951,31.5409],"persistence":[null,null,0.0,25.0,40.0,50.0,57.1429,37.5,37.5,62.5,37.5,12.5,12.5,37.5,62.5,62.5,75.0],"assessmentRisk":[null,null,null,null,12.2206,35.6286,37.8137,9.6181,9.6365,13.2066,25.2437,10.6081,27.2193,36.4832,16.008,24.1123,33.9196],"volumeParticipation":true,"latest":{"consensus":22.8,"control":13.1,"force":11.5,"direction":58.6,"confirmation":31.5,"persistence":75.0,"assessmentRisk":33.9,"intensity":25.0,"evidenceDepth":65},"analysis":{"status":"Price structure has the available support","headline":"The gauges support the price-technical view","summary":"Market Dynamics does not provide a directional confirmation. The completed evidence supports the upward price structure.","take":"Current assessment: follow price structure with limited confirmation.","tone":"positive","supportedView":"Price structure","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Control support is easing","forceState":"Commitment is limited","forcePath":"Broadly stable","directionState":"Upward follow-through","persistenceState":"Established","confirmationState":"Limited support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+22.8","detail":"Price structure has the available support","tone":"positive"},{"label":"SM Control Gauge","value":"+13.1","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+11.5","detail":"Commitment is limited","tone":"positive"},{"label":"SM Direction Gauge","value":"+58.6","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"32/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"88.5","detail":"Stretched positive","tone":"positive"},{"label":"Risk pressure","value":"15.9%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"-","detail":"Developing","tone":"neutral"},{"label":"Range position","value":"83%","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 and its trend references are aligned upward.","series":[{"label":"Close","values":[18.16,22.38,19.54,16.9,17.18,15.96,16.6,17.64,17.42,16.03,19.3,36.24,36.515,35.52,44.04,45.33,44.04],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,18.3826,17.9421,17.6981,17.6875,17.6389,17.3464,17.7016,21.0722,23.88,25.9963,29.277,32.1957,34.3492],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,20.5679,21.6755,23.3321,24.9616,26.3748],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,21.439,21.5146,30.1422,34.4834,37.0683,41.7384,45.4736,47.9546],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,14.123,14.3236,8.7495,7.0343,6.5582,4.8516,3.8708,3.6684],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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"]},{"key":"returns","eyebrow":"Observed return path","title":"Completed returns and cumulative progression","description":"Period returns are shown beside the total move recorded across the available tape.","reason":"Selected because direct returns remain fully observable while longer indicators develop.","series":[{"label":"Period return","values":[null,23.2379,-12.6899,-13.5107,1.6568,-7.1013,4.01,6.2651,-1.2472,-7.9793,20.3993,87.772,0.7588,-2.7249,23.9865,2.9292,-2.8458],"stroke":"#176fa3","width":1.7},{"label":"Cumulative progression","values":[0.0,23.2379,7.5991,-6.9383,-5.3965,-12.1145,-8.5903,-2.8634,-4.0749,-11.7291,6.2775,99.5595,101.0738,95.5947,142.511,149.6145,142.511],"stroke":"#07865c","width":2.0}],"guides":[{"label":"Starting level","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],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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"]},{"key":"bar_range","eyebrow":"Completed-bar anatomy","title":"Range expansion and closing direction","description":"The completed range and open-to-close direction expose expansion, compression and control.","reason":"Selected because these measures use every completed bar and do not require a long history.","series":[{"label":"Completed range","values":[37.7753,36.3718,27.1238,28.6385,15.9779,15.9386,22.5904,14.9376,16.8197,21.179,23.4974,55.1846,17.5681,23.0293,19.0622,16.6135,17.0332],"stroke":"#b87806","width":1.8},{"label":"Open-to-close direction","values":[-11.4578,25.8718,-9.2007,-12.9763,2.3228,-7.2093,4.7319,3.2787,-3.2222,-8.5046,18.7692,88.4555,2.3976,-2.6316,1.5448,4.2309,-3.6535],"stroke":"#176fa3","width":1.8}],"guides":[{"label":"Unchanged close","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],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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"]},{"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 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