{"schema_version":"1.0","name":"SUBGEN Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"e36c466c-aa63-46b0-9fc0-b76ca3101312","symbol":"SUBGEN","name":"Subgen AI AB","exchange":"STO","country":"SE","asset_type":"equity","currency":"SEK","sector":"Technology","industry":"Software - Infrastructure"},"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, Drawdown and recovery pressure, Activity pressure and cumulative balance, 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":19,"displayedObservations":19,"assetType":"Equity","state":"Aligned downward","stateTone":"negative","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":["2026-04-17","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],"opens":[12.3,0.078,0.0762,0.0698,0.0802,0.084,0.116,0.0888,0.0746,0.0698,0.0488,0.0712,0.0624,0.0648,0.068,0.061,0.0452,0.0522,0.052],"highs":[12.3,0.094,0.082,0.19,0.0908,0.13,0.158,0.105,0.0748,0.074,0.049,0.0748,0.0648,0.0672,0.0728,0.0618,0.055,0.058,0.0552],"lows":[0.07,0.0654,0.0632,0.066,0.076,0.0834,0.1,0.083,0.0664,0.058,0.0442,0.065,0.058,0.063,0.05,0.0346,0.0436,0.049,0.0424],"closes":[0.0796,0.0758,0.0698,0.0886,0.0834,0.11,0.127,0.096,0.0698,0.06,0.0468,0.0718,0.0624,0.064,0.0522,0.045,0.0502,0.052,0.045],"hoverRows":[[{"label":"Open","value":"12.3","className":"is-ohlc","compact":true},{"label":"High","value":"12.3","className":"is-ohlc","compact":true},{"label":"Low","value":"0.07","className":"is-ohlc","compact":true},{"label":"Close","value":"0.08","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":"0.08","className":"is-ohlc","compact":true},{"label":"High","value":"0.09","className":"is-ohlc","compact":true},{"label":"Low","value":"0.07","className":"is-ohlc","compact":true},{"label":"Close","value":"0.08","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":"0.08","className":"is-ohlc","compact":true},{"label":"High","value":"0.08","className":"is-ohlc","compact":true},{"label":"Low","value":"0.06","className":"is-ohlc","compact":true},{"label":"Close","value":"0.07","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":"Reversal warning","className":"is-caution","wide":true}],[{"label":"Open","value":"0.09","className":"is-ohlc","compact":true},{"label":"High","value":"0.10","className":"is-ohlc","compact":true},{"label":"Low","value":"0.08","className":"is-ohlc","compact":true},{"label":"Close","value":"0.10","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":"0.07","className":"is-ohlc","compact":true},{"label":"High","value":"0.07","className":"is-ohlc","compact":true},{"label":"Low","value":"0.07","className":"is-ohlc","compact":true},{"label":"Close","value":"0.07","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":"0.07","className":"is-ohlc","compact":true},{"label":"High","value":"0.07","className":"is-ohlc","compact":true},{"label":"Low","value":"0.07","className":"is-ohlc","compact":true},{"label":"Close","value":"0.07","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":"0.06","className":"is-ohlc","compact":true},{"label":"High","value":"0.06","className":"is-ohlc","compact":true},{"label":"Low","value":"0.06","className":"is-ohlc","compact":true},{"label":"Close","value":"0.06","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":"0.06","className":"is-ohlc","compact":true},{"label":"High","value":"0.07","className":"is-ohlc","compact":true},{"label":"Low","value":"0.06","className":"is-ohlc","compact":true},{"label":"Close","value":"0.06","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":"0.07","className":"is-ohlc","compact":true},{"label":"High","value":"0.07","className":"is-ohlc","compact":true},{"label":"Low","value":"0.05","className":"is-ohlc","compact":true},{"label":"Close","value":"0.05","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":"0.06","className":"is-ohlc","compact":true},{"label":"High","value":"0.06","className":"is-ohlc","compact":true},{"label":"Low","value":"0.03","className":"is-ohlc","compact":true},{"label":"Close","value":"0.04","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":"0.05","className":"is-ohlc","compact":true},{"label":"High","value":"0.06","className":"is-ohlc","compact":true},{"label":"Low","value":"0.04","className":"is-ohlc","compact":true},{"label":"Close","value":"0.05","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":"0.05","className":"is-ohlc","compact":true},{"label":"High","value":"0.06","className":"is-ohlc","compact":true},{"label":"Low","value":"0.05","className":"is-ohlc","compact":true},{"label":"Close","value":"0.05","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":"0.05","className":"is-ohlc","compact":true},{"label":"High","value":"0.06","className":"is-ohlc","compact":true},{"label":"Low","value":"0.04","className":"is-ohlc","compact":true},{"label":"Close","value":"0.04","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":[0.04008,0.13192],"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 moved from the upper positioning area into the lower accumulation zone. Market Dynamics history is not yet sufficient to classify the move.","tone":"neutral"},"chartSummary":"Price is in the accumulation zone. The Market Dynamics bars show whether underlying conditions are repairing or continuing to weaken.","summary":"Across the displayed history, price has moved from the upper positioning area into the lower accumulation zone. Market Dynamics history is not yet sufficient to classify the move.","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":"Accumulation zone","detail":"Price is in the lower accumulation area. With limited Market Dynamics history, the zone describes location rather than a completed positioning signal.","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":19,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-05-29","price":0.127}],"reversal_dangers":[{"date":"2026-06-05","price":0.096}]}},"smTape":{"available":true,"dates":["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":[0.0796,0.0758,0.0698,0.0886,0.0834,0.11,0.127,0.096,0.0698,0.06,0.0468,0.0718,0.0624,0.064,0.0522,0.045,0.0502,0.052,0.045],"consensus":[-99.843,-27.2727,-29.7872,-36.8581,0.0,0.0,0.0,0.0,0.0,-9.017,0.0,0.0,0.0,0.0,-9.6511,0.0,0.0,0.0,-7.1729],"supportDates":["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,0.0,0.0,0.0,0.0,-16.6479,0.0,0.0,0.0,0.0,-17.9324,0.0,0.0,0.0,-13.2538],"force":[-99.843,-27.2727,-29.7872,-36.8581,0.0,0.0,0.0,0.0,0.0,-8.8912,0.0,0.0,0.0,0.0,-9.6865,0.0,0.0,0.0,-7.1699],"direction":[null,null,null,null,0.0,0.0,0.0,0.0,0.0,-0.3858,0.0,0.0,0.0,0.0,-0.1616,0.0,0.0,0.0,-0.2254],"intensity":[null,null,null,null,50.0,40.0,33.3333,57.1429,37.5,11.1111,30.0,36.3636,16.6667,7.6923,35.7143,40.0,12.5,11.7647,16.6667],"confirmation":[54.6164,31.3939,32.1986,34.4612,0.0069,0.571,0.2515,0.6359,0.7382,48.0986,0.3162,24.0944,1.047,24.5555,48.2966,0.9477,0.5936,1.2215,24.8692],"persistence":[null,null,100.0,100.0,80.0,66.6667,57.1429,50.0,37.5,37.5,25.0,12.5,12.5,12.5,25.0,25.0,25.0,12.5,12.5],"assessmentRisk":[null,null,null,null,17.5861,48.3689,50.252,18.1198,28.8594,45.0254,50.2929,45.0199,20.8067,14.2368,19.5048,43.7118,31.6434,28.3523,18.9154],"volumeParticipation":true,"latest":{"consensus":-7.2,"control":-13.3,"force":-7.2,"direction":-0.2,"confirmation":24.9,"persistence":12.5,"assessmentRisk":18.9,"intensity":16.7,"evidenceDepth":73},"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 downward price structure.","take":"Current assessment: follow price structure with limited confirmation.","tone":"negative","supportedView":"Price structure","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Broadly stable","forceState":"Commitment is limited","forcePath":"Broadly stable","directionState":"Follow-through is limited","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-7.2","detail":"Price structure has the available support","tone":"negative"},{"label":"SM Control Gauge","value":"-13.3","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-7.2","detail":"Commitment is limited","tone":"negative"},{"label":"SM Direction Gauge","value":"-0.2","detail":"Follow-through is limited","tone":"negative"},{"label":"SM Confirmation Gauge","value":"25/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"34.9","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"7199.4%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"-","detail":"Developing","tone":"neutral"},{"label":"Range position","value":"0%","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 downward.","series":[{"label":"Close","values":[0.0796,0.0758,0.0698,0.0886,0.0834,0.11,0.127,0.096,0.0698,0.06,0.0468,0.0718,0.0624,0.064,0.0522,0.045,0.0502,0.052,0.045],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,0.0801,0.0855,0.093,0.0936,0.0893,0.0839,0.0772,0.0762,0.0737,0.0719,0.0683,0.0641,0.0616,0.0598,0.0571],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,0.0784,0.0773,0.0755,0.0732,0.0715,0.0701,0.0682],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,0.1246,0.1256,0.1233,0.1214,0.1196,0.1187,0.1182,0.1171,0.1158,0.115],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,0.0474,0.0393,0.0398,0.0387,0.0382,0.0356,0.032,0.0302,0.0291,0.0271],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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"]},{"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,-4.7739,-7.9156,26.9341,-5.8691,31.8945,15.4545,-24.4094,-27.2917,-14.0401,-22.0,53.4188,-13.0919,2.5641,-18.4375,-13.7931,11.5556,3.5857,-13.4615],"stroke":"#176fa3","width":1.7},{"label":"Cumulative progression","values":[0.0,-4.7739,-12.3116,11.3065,4.7739,38.191,59.5477,20.603,-12.3116,-24.6231,-41.206,-9.799,-21.608,-19.598,-34.4221,-43.4673,-36.9347,-34.6734,-43.4673],"stroke":"#07865c","width":2.0}],"guides":[{"label":"Starting level","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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"]},{"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":[15364.3216,37.7309,26.9341,139.9549,17.7458,42.3636,45.6693,22.9167,12.0344,26.6667,10.2564,13.649,10.8974,6.5625,43.6782,60.4444,22.7092,17.3077,28.4444],"stroke":"#b87806","width":1.8},{"label":"Open-to-close direction","values":[-99.3528,-2.8205,-8.399,26.9341,3.99,30.9524,9.4828,8.1081,-6.4343,-14.0401,-4.0984,0.8427,0.0,-1.2346,-23.2353,-26.2295,11.0619,-0.3831,-13.4615],"stroke":"#176fa3","width":1.8}],"guides":[{"label":"Unchanged 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