{"schema_version":"1.0","name":"BMI Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"e1cfab8d-af17-433a-9f15-c0cc41901cff","symbol":"BMI","name":"Badger Meter Inc","exchange":"NYSE","country":"US","asset_type":"equity","currency":"USD","sector":"Technology","industry":"Scientific & Technical Instruments"},"summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. 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conflict","tone":"caution","headline":"Positive Market Dynamics has weakened over four weeks","use":"Use the weaker four-week path as caution until price and Market Dynamics establish clearer agreement.","confirm":"This is an early challenge rather than a confirmed reversal. Price must respond to the improvement before the downward technical state can be considered resolved.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"weakening","zone":"middle","zoneContext":"Market Dynamics remains above zero, but support has contracted across the recent completed path. Price confirmation now carries more weight.","historical":{"label":"Broad directional cases","weeks":12,"sample":0},"nowContext":{"label":"Easier this week","detail":"Market Dynamics eased this week but remains positive."},"fourWeekContext":{"label":"Weakened over four weeks","detail":"Underlying support has contracted 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. 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":"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 1 cases. Distinct visits lasted 4.5 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 9.9% across 23 completed cases, with the largest move arriving after 6.2 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":"2026-06-26","price":140.88},{"date":"2026-07-31","price":134.35}],"distribution_rollovers":[{"date":"2025-07-25","price":191.05957}],"price_pressure_gaps":[{"date":"2025-05-16","price":242.156317},{"date":"2025-05-30","price":245.711654},{"date":"2025-06-13","price":240.29693}]}},"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":[199.9776,203.9193,187.8276,206.028,213.9014,213.0835,220.3164,222.8981,204.6287,199.0809,199.0317,220.208,212.1769,218.1091,213.9837,221.4448,223.3496,214.872,212.6317,210.5887,204.9238,212.3553,207.6773,211.1118,211.0625,214.4673,207.4997,207.9142,209.6342,195.8247,187.3136,188.0253,170.7856,181.3924,199.3141,213.8749,227.0024,228.2282,242.1563,240.9998,245.7117,244.405,240.2969,241.1185,243.5735,240.1682,236.5947,241.9006,191.0596,179.4679,186.2685,184.9321,187.7731,181.4542,181.3649,176.3752,175.661,174.9765,179.5595,171.5343,178.498,185.7891,179.004,186.3645,174.4904,176.4347,177.5085,179.0992,183.7323,180.5906,179.7057,175.3709,173.6012,170.6881,168.5406,145.7331,150.3563,153.9852,158.4492,151.947,148.3784,146.1255,147.4712,145.348,156.2334,154.7381,115.1739,121.444,121.5935,118.1445,113.8681,125.84,123.9,126.53,131.73,135.5,140.88,145.87,144.18,149.48,126.32,134.35,138.86,130.82],"consensus":[24.493,45.7806,-39.3109,58.685,60.5343,23.5735,62.8217,42.7436,-37.8776,-34.6825,-22.5862,52.2559,-11.4686,44.7851,0.0,41.4704,22.6267,-24.3821,-9.2138,-16.2125,-42.7917,21.816,-27.5271,10.9538,0.0,14.9053,-28.9135,0.0,0.0,-55.5494,-61.5723,-36.3106,-71.2631,0.0,39.7654,57.1331,63.7692,43.6502,63.733,37.4944,47.583,24.7717,0.0,20.4062,24.5702,0.0,0.0,29.0853,-69.9741,-75.5734,-21.4035,-53.0475,-15.5866,-50.8001,-26.0314,-49.152,-34.5851,-27.4768,0.0,-54.989,0.0,23.2226,-33.7751,31.5675,-43.1541,0.0,0.0,0.0,25.6511,-10.0486,-8.6226,-24.5828,-18.9331,-26.9252,-22.7508,-68.8416,-14.2026,-19.0701,-12.3126,-33.9065,-27.7371,-31.3818,-27.7309,-38.8138,31.2501,0.0,-72.5343,-12.8917,-30.9418,-51.141,-48.9951,21.8431,-25.019,0.0,23.8081,24.822,43.0196,42.814,14.5662,43.0169,-53.6222,15.2707,13.3197,-34.8942],"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":[-8.8653,-61.1102,-21.6137,-48.3082,-28.4711,-22.1463,0.0,-58.9768,0.0,13.0914,-41.6047,29.7506,-46.1389,0.0,0.0,0.0,23.6403,-18.1293,-16.9001,-29.9414,-13.5915,-24.1912,-17.7007,-62.4297,-6.1948,-15.3577,-8.5546,-45.7924,-28.238,-30.8147,-28.3362,-43.909,30.9177,0.0,-65.2704,-9.3815,-23.1867,-51.163,-61.8391,22.5102,-35.8433,0.0,17.0632,20.0475,35.9106,36.6465,3.1829,37.1432,-48.1996,23.8774,19.7947,-33.4165],"force":[-18.855,-45.6161,-1.3859,-40.6387,-12.4291,-4.2847,0.0,-62.1307,0.0,57.7966,-44.1315,51.559,-61.4545,0.0,0.0,0.0,36.9717,-19.9911,-9.9772,-25.0109,-15.1878,-23.7071,-12.5222,-92.8178,-30.6911,-15.2407,-12.2589,-34.9237,-18.0163,-16.0005,-7.4273,-32.3586,58.2668,0.0,-99.3116,-44.7375,-5.4876,-40.4587,-38.1162,74.3813,-15.2561,0.0,40.5119,29.9977,54.9916,42.3475,7.5788,42.2089,-91.3402,42.8117,17.4808,-48.2691],"direction":[-47.8691,-42.7199,-50.6641,-56.1973,-57.3983,-50.1346,0.0,-45.3301,0.0,10.1056,-17.4295,19.3642,-26.6713,0.0,0.0,0.0,19.863,-6.2883,-1.8048,-18.1529,-27.7132,-32.3485,-35.8286,-59.0437,-55.4214,-47.8206,-34.1585,-19.5959,-34.108,-43.0165,-41.5416,-37.6016,12.3322,0.0,-61.7092,-58.0672,-57.9864,-58.7461,-42.0869,16.4466,-19.6219,0.0,19.5852,26.5816,42.5928,50.1957,43.3934,50.3067,-32.878,14.2377,2.9474,-27.0294],"intensity":[19.2308,36.5385,40.3846,17.3077,7.6923,5.7692,19.2308,57.6923,50.0,96.1538,84.6154,53.8462,78.8462,78.8462,61.5385,9.6154,23.0769,23.0769,3.8462,32.6923,67.3077,48.0769,15.3846,96.1538,94.2308,63.4615,42.3077,48.0769,53.8462,3.8462,23.0769,3.8462,76.9231,17.3077,96.1538,94.2308,30.7692,15.3846,23.0769,82.6923,73.0769,9.6154,46.1538,46.1538,40.3846,75.0,63.4615,38.4615,92.3077,88.4615,57.6923,67.3077],"confirmation":[30.7295,83.9409,53.1908,83.482,78.4852,53.5003,7.0427,85.7534,7.9449,76.6393,79.0043,78.7385,82.3216,4.3336,47.8559,26.8159,76.584,50.0703,48.3928,75.7979,74.0259,76.5597,75.0455,90.8577,9.8461,31.0314,28.5303,78.6999,76.572,77.5821,53.5792,80.146,78.8284,24.4625,92.1377,34.6332,54.5771,84.0392,83.1512,34.7561,75.5436,25.525,76.2304,76.1735,82.2395,81.7802,28.4432,81.8303,86.3912,31.2989,49.6238,44.64],"persistence":[50.0,62.5,75.0,100.0,100.0,100.0,87.5,87.5,75.0,50.0,50.0,25.0,25.0,12.5,12.5,0.0,12.5,12.5,12.5,37.5,37.5,50.0,62.5,75.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,75.0,62.5,62.5,62.5,62.5,62.5,62.5,37.5,62.5,62.5,37.5,12.5,12.5,37.5,62.5,62.5,62.5,75.0,75.0,50.0],"assessmentRisk":[3.5018,32.4095,3.701,2.5181,17.5593,7.936,3.304,11.1025,5.9019,36.0041,11.5923,33.8527,7.0157,42.6395,8.3519,43.0081,32.9766,35.0635,21.8768,15.3993,37.9617,34.2736,37.727,15.5473,42.7541,39.7472,38.7317,52.4774,0.028,25.7645,32.4544,18.3218,23.1865,39.9263,13.1201,41.0904,34.2519,24.2454,18.8424,6.5684,22.0175,27.7402,33.0471,20.5062,22.4982,24.7445,31.5276,28.3015,20.5608,51.7455,35.0482,31.3159],"volumeParticipation":true,"latest":{"consensus":-34.9,"control":-33.4,"force":-48.3,"direction":-27.0,"confirmation":44.6,"persistence":50.0,"assessmentRisk":31.3,"intensity":67.3,"evidenceDepth":100},"analysis":{"status":"Price 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":"Broadly stable","directionState":"Downward follow-through","persistenceState":"Developing","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-34.9","detail":"Price structure has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-33.4","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-48.3","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-27.0","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"45/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"44.0","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"9.7%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"28.4","detail":"Directional","tone":"positive"},{"label":"Range position","value":"38%","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 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