{"schema_version":"1.0","name":"ANDO Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"d9045e6a-d3dd-4d88-8080-671864e57a65","symbol":"ANDO","name":"Andova AI, Quantum & Frontier Tech ETP","exchange":"LSE","country":"GB","asset_type":"etf","currency":"USD","sector":null,"industry":null},"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, Activity pressure and cumulative balance, 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":"2026-08-21","observations":21,"displayedObservations":21,"assetType":"ETF","state":"Rotational","stateTone":"caution","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":["2026-04-03","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"],"values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"opens":[9.545,10.1225,11.195,11.9,12.44,12.605,12.975,12.795,14.125,14.245,13.98,14.9,13.795,13.55,13.465,11.9,12.2175,11.575,12.085,12.79,13.53],"highs":[10.23,11.175,11.985,12.4,12.455,13.38,13.8,14.01,14.43,14.325,14.2225,14.9,13.855,13.55,13.485,11.9,12.92,12.175,12.965,13.49,13.605],"lows":[9.545,10.1225,11.195,11.745,11.8,12.605,12.975,12.585,13.825,13.74,13.855,14.9,13.595,13.55,13.41,11.64,12.215,10.705,12.085,12.645,12.485],"closes":[10.2175,11.175,11.9025,12.345,12.4125,13.32,13.325,13.955,14.23,13.74,14.2225,14.9,13.795,13.55,13.485,11.8075,12.215,11.86,12.8525,13.26,12.485],"hoverRows":[[{"label":"Open","value":"9.54","className":"is-ohlc","compact":true},{"label":"High","value":"10.2","className":"is-ohlc","compact":true},{"label":"Low","value":"9.54","className":"is-ohlc","compact":true},{"label":"Close","value":"10.2","className":"is-ohlc","compact":true},{"label":"Market 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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":"11.6","className":"is-ohlc","compact":true},{"label":"High","value":"12.2","className":"is-ohlc","compact":true},{"label":"Low","value":"10.7","className":"is-ohlc","compact":true},{"label":"Close","value":"11.9","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":"12.1","className":"is-ohlc","compact":true},{"label":"High","value":"13.0","className":"is-ohlc","compact":true},{"label":"Low","value":"12.1","className":"is-ohlc","compact":true},{"label":"Close","value":"12.9","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":"12.8","className":"is-ohlc","compact":true},{"label":"High","value":"13.5","className":"is-ohlc","compact":true},{"label":"Low","value":"12.6","className":"is-ohlc","compact":true},{"label":"Close","value":"13.3","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":"13.5","className":"is-ohlc","compact":true},{"label":"High","value":"13.6","className":"is-ohlc","compact":true},{"label":"Low","value":"12.5","className":"is-ohlc","compact":true},{"label":"Close","value":"12.5","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}]],"pressureRange":[-2.3,2.3],"priceRange":[9.93655,15.18095],"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":"Price is travelling between the lower accumulation area and the upper positioning zone. Market Dynamics history is not yet sufficient to confirm or challenge that progression.","tone":"neutral"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price is travelling between the lower accumulation area and the upper positioning zone. Market Dynamics history is not yet sufficient to confirm or challenge that progression.","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":"Between zones","detail":"Price is progressing between the lower and upper positioning zones while the Market Dynamics read develops.","tone":"neutral"},{"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":21,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-05-29","price":14.23}],"reversal_dangers":[{"date":"2026-06-05","price":13.74}]}},"smTape":{"available":true,"dates":["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":[10.2175,11.175,11.9025,12.345,12.4125,13.32,13.325,13.955,14.23,13.74,14.2225,14.9,13.795,13.55,13.485,11.8075,12.215,11.86,12.8525,13.26,12.485],"consensus":[96.3504,100.0,79.1139,48.2595,65.9309,72.7592,45.0362,71.1933,56.9102,9.1066,63.9574,54.6588,0.0,0.0,9.5327,-62.4902,-30.2017,-33.0801,26.053,31.2674,-40.8051],"supportDates":["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,81.0067,36.2993,75.8033,51.4181,9.1911,70.903,51.1292,0.0,0.0,28.9902,-47.9092,-24.7252,-18.65,35.9131,32.4325,-42.6462],"force":[96.3504,100.0,79.1139,48.2595,22.0429,49.3568,14.5758,53.6224,35.1029,31.7773,42.2373,31.1005,0.0,0.0,0.9488,-72.1986,-7.4059,-23.0216,71.9601,35.2278,-77.5451],"direction":[null,null,null,null,97.2795,80.0495,76.7786,78.4754,78.7635,59.221,71.5339,75.5201,0.0,0.0,6.5729,-72.2197,-52.7433,-56.7564,18.0064,27.107,-12.458],"intensity":[null,null,null,null,25.0,60.0,33.3333,57.1429,100.0,33.3333,30.0,81.8182,100.0,15.3846,14.2857,100.0,68.75,94.1176,88.8889,42.1053,50.0],"confirmation":[53.4988,54.6667,47.9831,38.1097,64.4249,90.4441,81.6164,90.1761,85.6303,33.3535,87.6986,84.8266,28.6664,3.3548,26.5613,88.5149,54.3866,78.499,36.0938,78.1085,55.0],"persistence":[null,null,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,87.5,75.0,75.0,50.0,25.0,0.0,0.0,0.0,12.5],"assessmentRisk":[null,null,null,null,17.0344,13.6202,27.4273,14.3925,21.5426,32.1645,16.5691,21.6457,34.0754,17.8893,48.5663,18.7387,33.7675,32.5981,48.2685,32.5213,38.0303],"volumeParticipation":true,"latest":{"consensus":-40.8,"control":-42.6,"force":-77.5,"direction":-12.5,"confirmation":55.0,"persistence":12.5,"assessmentRisk":38.0,"intensity":50.0,"evidenceDepth":81},"analysis":{"status":"Completed tape 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":"Completed tape","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":"Unsettled","confirmationState":"Qualified support","riskState":"Present","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-40.8","detail":"Completed tape has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-42.6","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-77.5","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-12.5","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"55/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"66.4","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"7.1%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"-","detail":"Developing","tone":"neutral"},{"label":"Range position","value":"55%","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 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