{"schema_version":"1.0","name":"UNH3 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"e1c8346b-d35b-41cb-b441-6de8992cb433","symbol":"UNH3","name":"Leverage Shares 3x Long UnitedHealth (UNH) ETP Securities","exchange":"MIL","country":"IT","asset_type":"etf","currency":"EUR","sector":null,"industry":null},"summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has not yet established a clear direction.","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, Directional strength and control, Range position and boundary pressure, Range pressure and compression."},{"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":42,"displayedObservations":42,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has not yet established a clear direction.","evidenceAlignment":{"status":"Support weakening","headline":"Positive Market Dynamics has weakened while price remains rotational","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has not yet established a clear direction.","take":"Treat the weaker support as caution until price and Market Dynamics establish clearer agreement.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[0.751965,0.841995,0.943052,0.889836,0.837223,0.888019,0.916163,0.974167,1.023924,1.003868,0.993466,0.807735,0.566141,0.29223],"opens":[13.378,14.708,15.456,16.57,16.653999,19.521999,18.417999,19.702,18.926001,18.75,19.91,19.91,16.549999,15.45],"highs":[15.2,14.708,15.798,16.653999,16.653999,19.521999,18.704,19.702,19.448,19.91,19.91,19.91,16.549999,15.45],"lows":[13.378,13.3,15.456,16.57,16.653999,19.299999,18.417999,19.702,18.926001,18.431999,19.91,15.716,15.45,13.5],"closes":[14.708,13.274,15.798,16.653999,16.653999,19.486,18.704,19.702,19.448,19.91,19.91,16.549999,15.45,13.504],"hoverRows":[[{"label":"Open","value":"13.4","className":"is-ohlc","compact":true},{"label":"High","value":"15.2","className":"is-ohlc","compact":true},{"label":"Low","value":"13.4","className":"is-ohlc","compact":true},{"label":"Close","value":"14.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.75","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"14.7","className":"is-ohlc","compact":true},{"label":"High","value":"14.7","className":"is-ohlc","compact":true},{"label":"Low","value":"13.3","className":"is-ohlc","compact":true},{"label":"Close","value":"13.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.84","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"15.5","className":"is-ohlc","compact":true},{"label":"High","value":"15.8","className":"is-ohlc","compact":true},{"label":"Low","value":"15.5","className":"is-ohlc","compact":true},{"label":"Close","value":"15.8","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.94","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"16.6","className":"is-ohlc","compact":true},{"label":"High","value":"16.7","className":"is-ohlc","compact":true},{"label":"Low","value":"16.6","className":"is-ohlc","compact":true},{"label":"Close","value":"16.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.89","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"16.7","className":"is-ohlc","compact":true},{"label":"High","value":"16.7","className":"is-ohlc","compact":true},{"label":"Low","value":"16.7","className":"is-ohlc","compact":true},{"label":"Close","value":"16.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.84","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.5","className":"is-ohlc","compact":true},{"label":"High","value":"19.5","className":"is-ohlc","compact":true},{"label":"Low","value":"19.3","className":"is-ohlc","compact":true},{"label":"Close","value":"19.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.89","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}],[{"label":"Open","value":"18.4","className":"is-ohlc","compact":true},{"label":"High","value":"18.7","className":"is-ohlc","compact":true},{"label":"Low","value":"18.4","className":"is-ohlc","compact":true},{"label":"Close","value":"18.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.92","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"Reversal danger","className":"is-negative","wide":true}],[{"label":"Open","value":"19.7","className":"is-ohlc","compact":true},{"label":"High","value":"19.7","className":"is-ohlc","compact":true},{"label":"Low","value":"19.7","className":"is-ohlc","compact":true},{"label":"Close","value":"19.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.97","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"18.9","className":"is-ohlc","compact":true},{"label":"High","value":"19.4","className":"is-ohlc","compact":true},{"label":"Low","value":"18.9","className":"is-ohlc","compact":true},{"label":"Close","value":"19.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.02","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"18.8","className":"is-ohlc","compact":true},{"label":"High","value":"19.9","className":"is-ohlc","compact":true},{"label":"Low","value":"18.4","className":"is-ohlc","compact":true},{"label":"Close","value":"19.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.00","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.9","className":"is-ohlc","compact":true},{"label":"High","value":"19.9","className":"is-ohlc","compact":true},{"label":"Low","value":"19.9","className":"is-ohlc","compact":true},{"label":"Close","value":"19.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.99","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.9","className":"is-ohlc","compact":true},{"label":"High","value":"19.9","className":"is-ohlc","compact":true},{"label":"Low","value":"15.7","className":"is-ohlc","compact":true},{"label":"Close","value":"16.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.81","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"16.5","className":"is-ohlc","compact":true},{"label":"High","value":"16.5","className":"is-ohlc","compact":true},{"label":"Low","value":"15.4","className":"is-ohlc","compact":true},{"label":"Close","value":"15.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.57","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"15.4","className":"is-ohlc","compact":true},{"label":"High","value":"15.4","className":"is-ohlc","compact":true},{"label":"Low","value":"13.5","className":"is-ohlc","compact":true},{"label":"Close","value":"13.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.29","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[12.87584,20.30816],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":0.29223,"state":"Positive but weakening over four weeks","context":{"scenario":"positiveWeakening","latestDirection":"easing","fourWeekDirection":"weakening","now":{"label":"Easier this week","detail":"Market Dynamics eased this week but remains positive."},"fourWeek":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"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":"Accumulation pressure","detail":"Price is within accumulation conditions, but the completed tape has not yet confirmed a recovery. The zone is a watch area rather than a directional signal.","tone":"negative"},"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, but the completed tape has not yet confirmed a recovery. The zone is a watch area rather than a directional signal.","annotations":[{"label":"Current tape relationship","value":"Accumulation pressure","detail":"Market Dynamics eased this week but remains positive.","tone":"negative"},{"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":"Weakening","detail":"Underlying support has contracted across the recent completed path.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":14,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-06-26","price":19.486}],"reversal_dangers":[{"date":"2026-07-03","price":18.704}]}},"smTape":{"available":true,"dates":["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":[12.006,14.066,12.244,13.45,13.45,14.63,14.21,12.562,12.562,15.032,13.524,15.73,6.718,6.017,6.47,6.769,6.403,6.403,6.052,6.478,6.478,5.733,7.658,8.273,11.174,12.594,12.49,15.78,14.708,13.274,15.798,16.654,16.654,19.486,18.704,19.702,19.448,19.91,19.91,16.55,15.45,13.504],"consensus":[-100.0,25.8581,-55.0645,47.6487,19.4781,31.8075,0.0,0.0,0.0,42.0893,-30.1646,59.1475,-74.8597,-57.538,-28.7417,-23.8793,-26.7463,-22.6112,-41.338,-9.5099,-19.6148,-25.9365,36.4416,29.7027,69.8333,73.3861,39.0567,82.1934,37.0891,0.0,66.1505,54.1817,38.3213,74.4037,46.655,49.9394,51.3834,55.1049,35.819,-46.0726,-49.5941,64.9429],"supportDates":["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,40.065,0.0,0.0,0.0,46.0801,-26.6964,48.6305,-61.7538,-51.968,-12.2197,-3.6357,-28.4359,-27.7821,-54.5444,-2.7935,-23.0985,-13.3437,35.1306,34.3783,67.2635,74.1124,36.8079,83.7307,37.645,0.0,75.7955,65.6917,33.2395,70.8298,48.9304,46.4213,55.5473,66.4034,32.7871,-41.909,-55.195,74.3368],"force":[-100.0,25.8581,-55.0645,47.6487,4.1446,26.0666,0.0,0.0,0.0,53.0786,-74.4008,86.1402,-98.0913,-42.4508,-4.0759,-6.0312,-4.6732,-1.6536,-20.3102,-16.014,-0.3934,-26.1942,79.1996,34.5034,93.921,86.5978,8.3156,93.6789,6.0154,0.0,49.7474,29.5751,8.3721,80.0762,10.6239,25.682,20.8067,39.1472,6.8602,-85.8967,-51.2229,58.2152],"direction":[null,null,null,null,30.4307,26.4711,0.0,0.0,0.0,29.6788,-2.531,51.8863,-73.244,-74.6803,-71.0651,-68.3796,-40.5819,-34.0335,-41.2649,-35.4172,-29.9251,-40.1442,7.3986,20.9301,55.5646,63.1192,63.5846,72.2326,67.2426,0.0,66.8441,58.6035,65.5214,74.4364,69.7911,71.2866,68.4652,53.5906,59.9688,-22.3853,-42.0296,59.0127],"intensity":[null,null,null,null,50.0,60.0,66.6667,100.0,12.5,100.0,50.0,90.9091,100.0,92.3077,14.2857,20.0,18.75,17.6471,11.1111,15.7895,20.0,66.6667,86.3636,30.4348,91.6667,80.0,38.4615,92.5926,39.2857,51.7241,76.6667,38.7097,3.125,84.8485,29.4118,45.7143,27.7778,18.9189,57.8947,94.8718,92.5,63.4146],"confirmation":[54.6667,30.9413,40.2873,37.9143,28.1987,77.8776,28.5322,49.618,24.9821,81.7427,56.387,87.9101,92.8628,86.0372,54.6518,30.9916,53.1937,52.1034,80.3861,5.784,51.0311,76.4994,58.3177,77.5799,91.1199,91.8751,79.5955,94.6285,57.163,35.0776,88.5213,84.4128,79.4275,92.0365,81.7968,83.2949,83.4474,84.9751,55.9591,84.0204,83.8344,88.4336],"persistence":[null,null,33.3333,0.0,20.0,33.3333,28.5714,25.0,37.5,37.5,37.5,37.5,12.5,12.5,25.0,37.5,50.0,75.0,75.0,100.0,100.0,100.0,75.0,50.0,25.0,0.0,25.0,50.0,75.0,87.5,87.5,87.5,87.5,87.5,87.5,87.5,87.5,100.0,100.0,75.0,50.0,25.0],"assessmentRisk":[null,null,null,null,28.1457,3.9264,44.3019,24.7456,26.1399,7.3412,6.764,18.9183,10.6684,21.053,35.0186,37.911,7.5984,18.3661,12.907,0.6407,11.2103,0.6767,9.0394,14.8177,12.1368,13.3068,30.4662,8.9028,30.9853,24.5626,15.7472,0.3022,24.1799,12.7652,24.3583,23.2047,21.598,13.3008,16.3248,24.1636,24.5605,17.4868],"volumeParticipation":true,"latest":{"consensus":64.9,"control":74.3,"force":58.2,"direction":59.0,"confirmation":88.4,"persistence":25.0,"assessmentRisk":17.5,"intensity":63.4,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the upward view","summary":"The completed evidence gives the upward view the clearer support.","take":"Current assessment: upward pressure has the stronger support.","tone":"positive","supportedView":"Market Dynamics","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Broadly stable","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"+64.9","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+74.3","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+58.2","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+59.0","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"88/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"50.1","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"12.6%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"33.5","detail":"Directional","tone":"positive"},{"label":"Range position","value":"58%","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":[12.006,14.066,12.244,13.45,13.45,14.63,14.21,12.562,12.562,15.032,13.524,15.73,6.718,6.017,6.47,6.769,6.403,6.403,6.052,6.478,6.478,5.733,7.658,8.273,11.174,12.594,12.49,15.78,14.708,13.274,15.798,16.654,16.654,19.486,18.704,19.702,19.448,19.91,19.91,16.55,15.45,13.504],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,12.7175,13.0652,13.2733,13.144,13.0382,13.4007,13.4231,13.8426,12.5472,11.3599,10.4708,9.7977,9.1805,8.6755,8.1985,7.8857,7.6297,7.2849,7.3527,7.52,8.1844,8.9861,9.6232,10.7426,11.4636,11.7928,12.521,13.2724,13.8873,14.9052,15.5959,16.3425,16.9071,17.4531,17.8998,17.6544,17.2536,16.5718],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,12.6036,12.1157,11.6975,11.3324,10.9673,10.6292,10.2901,10.0077,9.7463,9.449,9.3163,9.239,9.3824,9.6203,9.8328,10.2734,10.6019,10.7998,11.17,11.5763,11.9524,12.5104,12.9692,13.4679,13.9109,14.3553,14.7667,14.8988,14.9397,14.8333],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,15.4173,15.3346,15.8446,17.3452,18.0705,18.2924,18.3135,18.3016,18.2308,18.1542,18.0154,17.9426,17.6045,17.3728,16.9513,16.6623,16.3185,16.0298,16.6354,16.9862,16.6748,17.1062,17.3126,18.2699,19.6754,20.6939,21.7571,22.5622,23.2762,23.7666,23.6753,23.3414,22.6177],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}