{"schema_version":"1.0","name":"2508 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"d53b5ae8-fb6c-48a1-b38c-32029fa6bb2d","symbol":"2508","name":"Saint Bella Group Limited","exchange":"HKG","country":"HK","asset_type":"equity","currency":"HKD","sector":"Healthcare","industry":"Medical Care Facilities"},"summary":"Market Dynamics strengthened this week and remains positive. 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, Strength versus the research benchmark, Drawdown and recovery pressure, Activity pressure and cumulative balance, 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":"2026-08-21","observations":61,"displayedObservations":61,"assetType":"Equity","state":"Aligned downward","stateTone":"negative","summary":"Market Dynamics strengthened this week and remains positive. 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A green marker is required before the recovery is treated as confirmed.","historical":{"label":"Broad directional cases","weeks":12,"direction":"higher","percent":0.0,"averageReturn":-23.4,"sample":1},"nowContext":{"label":"Slightly stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeekContext":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"priceContext":{"label":"Price remains downward while Market Dynamics is positive","detail":"The positive Market Dynamics reading has not yet reversed the downward price structure."}},"strategyApproach":{"headline":"Strategy observations from this ticker's own record","summary":"The current reading identifies the setup. 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Commitment should rise only after price responds; fading Market Dynamics cancels the early case.","finding":"In this ticker's completed record, 0.0% of comparable cases moved higher after 12 weeks, with an average move of -23.4% across 1 cases.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."},{"eyebrow":"Disagreement playbook","title":"Use improving Market Dynamics to prepare, not anticipate","tone":"recovery","finding":"Comparable disagreements produced an average recovery of 1.0% across 1 completed cases, with the largest move arriving after 1.0 weeks on average.","approach":"Define the price level that would confirm the repair. Until that response occurs, keep the idea at watchlist or starter-position size.","watch":"The early repair fails if Market Dynamics fades before price responds."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics 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structure has stronger support","headline":"The gauges support the price-technical view","summary":"Price structure and Market Dynamics disagree. The completed evidence gives the downward price structure stronger support.","take":"Current assessment: price structure remains primary, but the disagreement lowers confirmation.","tone":"negative","supportedView":"Price structure","direction":"downward","disagreement":true},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Broadly stable","forceState":"Downward commitment","forcePath":"Commitment is easing","directionState":"Downward follow-through","persistenceState":"Developing","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-31.0","detail":"Price structure has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-32.4","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-19.1","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction 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leadership","title":"Strength versus the research benchmark","description":"Relative performance is separated from absolute price direction to reveal leadership and lagging pressure.","reason":"Selected because benchmark-relative leadership is strengthening, fading or diverging from price.","series":[{"label":"Relative 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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 tape.","series":[{"label":"Drawdown","values":[0.0,0.0,0.0,-4.129,-7.4839,-8.2581,-3.4839,-7.871,-12.5161,-14.1935,-13.4194,-10.7097,-16.3871,-22.4516,-22.5806,-20.5161,-13.5484,-20.2581,-23.871,-31.7419,-29.5484,-39.7419,-44.2581,-44.6452,-46.4516,-47.871,-48.0,-49.9355,-43.7419,-35.4839,-32.2581,-38.5806,-36.3871,-32.9032,-29.1613,-34.0645,-33.6774,-35.4839,-34.8387,-38.4516,-42.1935,-42.5806,-43.0968,-47.0968,-48.3871,-49.2903,-51.0968,-48.6452,-49.0323,-50.5806,-51.871,-56.129,-56.9032,-56.2581,-56.2581,-59.7419,-53.8065,-50.8387,-57.3548,-58.3226,-59.3548],"stroke":"#c13f3f","width":1.9,"fill":"rgba(193,63,63,.10)"},{"label":"Recovery","values":[null,null,null,null,null,null,null,9.0076,3.5115,1.5267,2.4427,5.6489,0.0,0.0,0.0,2.6667,11.6667,3.0,0.0,0.0,3.2136,0.0,0.0,0.0,0.0,0.0,0.0,0.0,12.3711,28.866,35.3093,22.6804,27.0619,34.0206,41.4948,31.701,32.4742,28.866,30.1546,22.9381,15.4639,14.6907,13.6598,5.6701,3.0928,1.2887,0.0,5.0132,4.2216,1.0554,0.0,0.0,0.0,1.497,1.497,0.0,14.7436,22.1154,5.9295,3.5256,0.9615],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Prior 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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,27.1386,23.4742,18.2589,13.5771,24.804,22.6435,15.8474,12.9915,14.7409,33.2753,31.8499,13.0113,15.8554,21.9526,46.6079,56.4866,51.2895,51.7419,51.6013,23.2601,239.7167,870.8107,521.8574,377.0776,152.1536,170.4603,153.3324,17.1084,133.6652,115.8236,132.4515,115.6129,68.4307,21.34,28.4058,25.724,25.9999,64.4515,47.0549,12.7809,64.0372,23.0543,9.1915,5.9755,45.1152,3.4744,2.5929,9.9419,18.1505,34.8146,320.5317,36.2084,90.4299,24.198],"stroke":"#1678a7","width":1.8},{"label":"Cumulative 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