{"schema_version":"1.0","name":"ADI3 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"e596e340-3f5f-4b90-8b88-728949e6e749","symbol":"ADI3","name":"Leverage Shares 3x Long Analog Devices (ADI) 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, Drawdown and recovery pressure, Activity pressure and cumulative balance, Range position and boundary 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":"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":["2026-04-03","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":[8.91062,10.63,12.825,17.139999,19.875,19.24,21.85,21.514999,20.8825,22.01,19.16,22.7575,18.219999,14.435,14.62,13.28,13.46,13.87,11.5425,14.005,14.8075],"highs":[10.46504,13.735,14.485,20.315001,19.879999,21.575001,24.0975,23.905001,22.82,22.055,20.795,22.7575,18.219999,14.435,15.7475,13.51,14.505,13.87,14.4775,14.2325,14.8075],"lows":[8.91062,10.63,12.7925,16.8825,17.715,19.129999,20.215,16.434999,20.004999,19.98,19.16,22.7575,15.345,14.435,14.62,12.995,12.76,11.3175,11.5425,13.765,12.475],"closes":[10.2408,13.4975,15.5375,19.7775,19.059999,21.575001,22.014999,18.379999,20.067499,20.219999,20.795,22.7575,15.345,14.435,15.7475,13.02,12.76,12.0425,14.4775,13.765,12.63],"hoverRows":[[{"label":"Open","value":"8.91","className":"is-ohlc","compact":true},{"label":"High","value":"10.5","className":"is-ohlc","compact":true},{"label":"Low","value":"8.91","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}]],"pressureRange":[-2.3,2.3],"priceRange":[9.489798,23.508502],"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":"2026-05-08","price":21.575001}],"reversal_dangers":[{"date":"2026-05-15","price":22.014999}]}},"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":[10.2408,13.4975,15.5375,19.7775,19.06,21.575,22.015,18.38,20.0675,20.22,20.795,22.7575,15.345,14.435,15.7475,13.02,12.76,12.0425,14.4775,13.765,12.63],"consensus":[71.1481,84.7021,100.0,68.6817,58.05,77.6358,48.3335,-22.5336,36.0059,0.0,38.2267,51.4357,-70.5564,-41.1964,0.0,-71.5046,-48.6326,-51.7266,20.405,-33.9221,-44.6751],"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,87.7571,39.8755,-21.4139,18.3203,0.0,57.1089,46.6956,-64.7781,-34.0254,0.0,-67.1,-51.5756,-48.3933,28.7944,-43.5313,-50.0367],"force":[71.1481,84.7021,100.0,68.6817,0.1294,52.4136,15.1697,-84.485,43.0191,0.0,21.6695,29.8901,-95.8066,-20.0526,0.0,-81.4727,-34.1274,-50.3341,76.4241,-37.7665,-50.4277],"direction":[null,null,null,null,99.6068,84.0844,81.6882,-20.4378,51.2085,0.0,28.4736,72.2425,-59.1244,-64.4946,0.0,-69.4184,-55.6299,-56.5306,29.1964,-20.1943,-34.4385],"intensity":[null,null,null,null,25.0,60.0,66.6667,85.7143,75.0,11.1111,30.0,81.8182,100.0,84.6154,28.5714,53.3333,18.75,35.2941,44.4444,42.1053,25.0],"confirmation":[45.4341,49.7713,54.6667,44.6448,38.6245,91.9205,82.5849,36.1426,80.0051,5.3137,79.4402,83.875,91.4356,80.6477,32.1149,91.2524,83.0755,84.5609,37.0043,78.8258,55.0],"persistence":[null,null,100.0,100.0,100.0,100.0,100.0,75.0,75.0,62.5,62.5,62.5,37.5,12.5,0.0,0.0,25.0,37.5,37.5,62.5,62.5],"assessmentRisk":[null,null,null,null,20.9674,11.1759,25.7911,14.1477,2.2936,30.892,45.0558,22.9309,10.3293,27.4161,44.6768,14.1252,13.5659,10.3578,32.8355,30.9761,19.6822],"volumeParticipation":true,"latest":{"consensus":-44.7,"control":-50.0,"force":-50.4,"direction":-34.4,"confirmation":55.0,"persistence":62.5,"assessmentRisk":19.7,"intensity":25.0,"evidenceDepth":81},"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":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Developing","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-44.7","detail":"Price structure has the available support","tone":"negative"},{"label":"SM Control Gauge","value":"-50.0","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-50.4","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-34.4","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"55/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"63.8","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"19.3%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"-","detail":"Developing","tone":"neutral"},{"label":"Range position","value":"24%","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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