{"schema_version":"1.0","name":"ERA Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"ed55dd77-c701-47fd-a833-37a6951763b7","symbol":"ERA","name":"ERAMET S.A.","exchange":"PAR","country":"FR","asset_type":"equity","currency":"EUR","sector":"Basic Materials","industry":"Other Industrial Metals & Mining"},"summary":"Price structure and the underlying tape currently reinforce the same downside read.","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 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cautious, Market Dynamics positive","kind":"disagreement","expectedDirection":"higher","episodes":15,"completedEpisodes":15,"activeEpisodes":0,"medianExpectedMove":13.2,"averageExpectedMove":17.8,"averageWeeksToLargestMove":4.5,"horizons":[{"weeks":4,"sample":15,"expectedCount":4,"expectedPercent":26.7,"averageReturn":-3.8,"medianReturn":-3.5,"confidenceLow":10.9,"confidenceHigh":52.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":15,"expectedCount":5,"expectedPercent":33.3,"averageReturn":-4.8,"medianReturn":-7.5,"confidenceLow":15.2,"confidenceHigh":58.3,"confidence":"Mixed historical record"},{"weeks":26,"sample":15,"expectedCount":6,"expectedPercent":40.0,"averageReturn":4.2,"medianReturn":-9.6,"confidenceLow":19.8,"confidenceHigh":64.3,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-1.6,"sample":15},{"week":2,"averageReturn":-2.8,"sample":15},{"week":3,"averageReturn":-2.1,"sample":15},{"week":4,"averageReturn":-3.8,"sample":15},{"week":5,"averageReturn":-3.4,"sample":15},{"week":6,"averageReturn":-7.1,"sample":15},{"week":7,"averageReturn":-8.4,"sample":15},{"week":8,"averageReturn":-7.8,"sample":15},{"week":9,"averageReturn":-7.9,"sample":15},{"week":10,"averageReturn":-5.2,"sample":15},{"week":11,"averageReturn":-3.2,"sample":15},{"week":12,"averageReturn":-4.8,"sample":15},{"week":13,"averageReturn":-7.3,"sample":15},{"week":14,"averageReturn":-4.9,"sample":15},{"week":15,"averageReturn":-7.7,"sample":15},{"week":16,"averageReturn":-4.7,"sample":15},{"week":17,"averageReturn":-3.6,"sample":15},{"week":18,"averageReturn":-0.3,"sample":15},{"week":19,"averageReturn":-0.3,"sample":15},{"week":20,"averageReturn":4.6,"sample":15},{"week":21,"averageReturn":3.8,"sample":15},{"week":22,"averageReturn":5.2,"sample":15},{"week":23,"averageReturn":5.1,"sample":15},{"week":24,"averageReturn":4.7,"sample":15},{"week":25,"averageReturn":2.9,"sample":15},{"week":26,"averageReturn":4.2,"sample":15}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":0,"completedEpisodes":0,"activeEpisodes":0,"horizons":[{"weeks":4,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":12,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"sample":0},{"week":2,"sample":0},{"week":3,"sample":0},{"week":4,"sample":0},{"week":5,"sample":0},{"week":6,"sample":0},{"week":7,"sample":0},{"week":8,"sample":0},{"week":9,"sample":0},{"week":10,"sample":0},{"week":11,"sample":0},{"week":12,"sample":0},{"week":13,"sample":0},{"week":14,"sample":0},{"week":15,"sample":0},{"week":16,"sample":0},{"week":17,"sample":0},{"week":18,"sample":0},{"week":19,"sample":0},{"week":20,"sample":0},{"week":21,"sample":0},{"week":22,"sample":0},{"week":23,"sample":0},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]},"currentApplication":{"status":"Evidence aligned downward","tone":"negative","headline":"Price and Market Dynamics remain aligned downward","use":"The downside remains supported until Market Dynamics repairs or price structure changes.","confirm":"The downside state remains confirmed until Market Dynamics repairs or price structure changes.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"weakening","zone":"accumulation","zoneContext":"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.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":42.9,"averageReturn":4.1,"sample":21},"nowContext":{"label":"Slightly easier this week","detail":"Market Dynamics weakened this week and remains below zero."},"fourWeekContext":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"priceContext":{"label":"Price structure is downward","detail":"Price is responding in the same broad direction as Market Dynamics."}},"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":"Capital protection","title":"Treat agreement on the downside as a defensive condition","tone":"negative","approach":"Reduce the burden of proof for risk control and raise it for new long exposure. A short position still needs a defined entry, exit and maximum loss.","finding":"In this ticker's completed record, 42.9% of comparable cases moved lower after 12 weeks, with an average move of 4.1% across 21 cases.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."},{"eyebrow":"Zone positioning","title":"Use accumulation to prepare the long case, then wait for confirmation","tone":"positive","finding":"After accumulation, 72.7% of completed 12-week outcomes were higher across 11 cases. Distinct visits lasted 3.3 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 15.4% across 20 completed cases, with the largest move arriving after 6.5 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":"2025-01-24","price":53.979931},{"date":"2025-03-07","price":59.416759},{"date":"2025-07-18","price":52.900002},{"date":"2025-08-15","price":52.549999},{"date":"2025-09-26","price":55.150002},{"date":"2025-11-28","price":53.599998},{"date":"2026-01-09","price":72.25},{"date":"2026-02-27","price":59.200001}],"distribution_rollovers":[],"price_pressure_gaps":[]}},"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":[69.9021,69.0283,60.4847,60.242,61.1158,69.805,70.8729,66.3584,51.6499,53.3489,52.4751,55.3877,50.6305,50.0479,49.1742,49.0285,51.4072,50.0479,52.2324,53.8343,52.7664,55.0964,53.9799,52.4751,55.0479,56.3585,52.8149,50.6305,59.4168,56.31,52.2324,50.5819,41.1646,43.2616,46.4266,49.0285,48.3295,49.7081,49.4169,47.6499,50.2907,49.0,45.72,46.16,46.64,47.4,51.6,52.9,56.5,47.44,49.14,52.55,52.05,51.0,48.58,47.98,51.45,55.15,57.6,59.6,59.85,60.05,59.4,53.0,54.55,48.86,53.6,51.15,53.55,50.95,53.45,61.6,72.25,80.85,87.0,73.8,68.05,60.0,48.98,59.2,55.25,51.05,47.18,49.38,50.9,50.45,55.3,53.95,58.5,58.1,55.7,53.4,54.9,51.4,55.15,50.65,45.16,45.94,44.1,42.52,41.26,42.58,47.2,46.08],"consensus":[-44.0867,-40.7864,-72.1415,-38.1666,-36.3178,23.3144,13.4335,-25.5678,-75.8009,-20.3119,-37.0155,-17.4354,-52.637,-39.8161,-34.9146,-21.8137,-9.1117,-25.092,0.0,17.9241,-15.3555,28.9253,0.0,-17.6375,29.3627,23.7252,-31.4375,-33.3392,58.7796,-15.809,-36.3327,-31.5691,-72.8026,-12.0592,0.0,9.8052,0.0,21.1171,0.0,-24.0198,26.3068,-15.9154,-46.2344,-19.5272,-12.6222,0.0,56.5992,45.9458,70.7687,-45.9489,0.0,36.714,0.0,0.0,-30.1452,-20.22,33.7093,54.8672,62.3526,56.2153,26.4622,31.4593,15.2223,-49.5325,0.0,-62.9767,18.6655,-35.408,14.6441,-26.5628,16.222,70.0827,81.2259,77.4123,83.1129,0.0,-17.7684,-52.2387,-68.3369,14.567,-39.4006,-50.8535,-50.8146,-16.3661,-16.3893,-20.511,29.6049,0.0,36.2152,0.0,-16.1025,-18.6084,0.0,-40.3384,19.6685,-35.384,-51.5406,-29.8708,-42.8691,-51.1811,-46.7884,-21.3509,27.2782,-16.1685],"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":[0.0,0.0,-38.0019,-13.1346,32.9908,54.9454,66.3403,51.4396,11.9881,25.6231,9.9458,-47.2381,0.0,-61.7848,32.4148,-36.948,20.1018,-25.2805,21.3256,67.6433,83.3593,74.8052,84.4969,0.0,-9.9798,-45.3018,-64.4579,24.124,-35.3345,-55.3752,-61.2629,-7.3675,-11.0248,-22.8832,31.1183,0.0,38.6565,0.0,-21.8421,-23.0039,0.0,-47.0623,28.4005,-37.6021,-49.4395,-29.2706,-44.042,-56.9501,-53.1524,-19.2589,26.4191,-30.1371],"force":[0.0,0.0,-41.1555,-17.8664,68.4005,66.7195,62.448,57.228,5.1341,8.6327,12.6565,-81.3089,0.0,-82.264,53.5739,-43.7391,36.1644,-51.8302,32.8787,97.12,98.4656,88.713,91.994,0.0,-63.7297,-84.3128,-90.5497,66.2179,-40.2522,-45.8097,-44.9704,-15.7268,-3.9644,-7.2351,52.4676,0.0,45.4809,0.0,-29.23,-19.6779,0.0,-38.5976,34.6946,-42.1326,-53.7731,-7.8691,-24.9642,-35.8618,-30.1571,-7.555,60.1146,-18.4077],"direction":[0.0,0.0,-13.3016,-29.9987,9.751,46.3119,57.7272,60.9499,58.2383,54.4341,41.166,-29.4572,0.0,-50.5621,21.9826,-27.6973,6.9649,-9.9801,1.5082,53.5582,66.4736,72.3199,75.1877,0.0,-6.1597,-37.2564,-56.9036,33.2488,-43.4392,-49.2887,-43.0483,-49.5737,-37.0585,-27.2827,11.5447,0.0,26.8068,0.0,-0.1662,-12.8211,0.0,-33.8975,1.0438,-28.0285,-52.3472,-46.2723,-54.3179,-55.5304,-51.3947,-44.3889,4.8054,-1.3949],"intensity":[13.4615,7.6923,38.4615,46.1538,65.3846,63.4615,69.2308,65.3846,82.6923,82.6923,5.7692,90.3846,76.9231,82.6923,76.9231,36.5385,34.6154,42.3077,63.4615,94.2308,100.0,100.0,82.6923,100.0,100.0,84.6154,94.2308,88.4615,53.8462,61.5385,61.5385,30.7692,65.3846,11.5385,71.1538,38.4615,67.3077,50.0,21.1538,76.9231,15.3846,40.3846,44.2308,61.5385,75.0,3.8462,11.5385,11.5385,11.5385,11.5385,67.3077,36.5385],"confirmation":[2.7941,4.3371,77.8623,74.5066,79.8552,85.9175,87.895,86.0925,53.3718,77.4603,29.4686,84.8538,28.6225,88.7585,34.1836,79.561,52.078,77.2897,51.276,91.2876,94.4852,93.1561,94.8457,39.3552,53.8527,85.7996,90.6039,35.8497,80.6961,84.0505,83.9234,7.7513,50.8851,51.4561,78.1473,24.3376,79.834,25.6839,50.7988,73.9203,2.7416,80.7528,52.1748,79.4947,84.593,54.2306,81.1546,83.8232,82.3685,52.9283,55.0762,58.6602],"persistence":[37.5,37.5,12.5,12.5,12.5,12.5,25.0,25.0,37.5,50.0,75.0,75.0,62.5,37.5,37.5,12.5,12.5,12.5,12.5,12.5,25.0,50.0,50.0,62.5,37.5,37.5,12.5,12.5,12.5,37.5,62.5,75.0,75.0,75.0,50.0,62.5,37.5,25.0,25.0,25.0,12.5,12.5,12.5,25.0,50.0,62.5,62.5,62.5,75.0,75.0,75.0,75.0],"assessmentRisk":[43.332,38.4343,6.8454,34.2371,25.678,14.1483,18.2408,21.7865,36.0717,29.5125,29.2242,24.4768,51.1202,18.4513,56.4933,7.8096,21.9165,41.348,10.4516,14.5216,9.3502,11.293,8.4432,51.361,19.2898,23.6177,15.8276,54.8583,26.4505,14.8902,14.4134,33.8088,17.4005,5.9526,27.3559,33.505,25.6849,40.3588,12.0006,2.5949,41.5295,28.83,19.3102,18.95,23.9807,31.7943,28.4548,24.0685,20.4512,33.0314,25.5676,50.1608],"volumeParticipation":true,"latest":{"consensus":-16.2,"control":-30.1,"force":-18.4,"direction":-1.4,"confirmation":58.7,"persistence":75.0,"assessmentRisk":50.2,"intensity":36.5,"evidenceDepth":100},"analysis":{"status":"Joint downward confirmation","headline":"The gauges support the downward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same downward assessment.","take":"Current assessment: downward pressure has broad support.","tone":"negative","supportedView":"Price structure and Market Dynamics","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is easing","forceState":"Downward commitment","forcePath":"Commitment is easing","directionState":"Follow-through is limited","persistenceState":"Established","confirmationState":"Qualified support","riskState":"Present","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-16.2","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-30.1","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-18.4","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-1.4","detail":"Follow-through is limited","tone":"negative"},{"label":"SM Confirmation Gauge","value":"59/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"44.5","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"10.8%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"11.4","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"23%","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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low","values":[22.8486,15.3007,0.6462,3.5029,5.0042,19.9333,21.7681,14.0117,1.3333,9.6806,7.8842,13.8723,4.0918,2.8942,3.283,5.077,10.1748,7.2617,11.9434,15.3766,13.0878,18.0816,15.6887,12.4636,17.9775,20.7865,13.1918,8.5102,27.3408,20.6825,11.9434,8.4061,2.1687,15.0232,23.4383,30.3562,28.4977,32.1631,31.3887,26.6908,33.7119,30.2803,21.5595,22.7294,24.0056,26.0263,37.1932,40.6496,50.2212,26.1326,30.6526,39.719,38.3896,35.5979,29.1637,27.5684,36.7944,46.6319,53.1459,33.9196,32.2944,32.7365,31.2997,17.153,20.5791,8.0018,18.4792,13.0637,18.3687,12.6216,18.1477,36.1627,59.7038,78.7135,92.3077,63.13,50.42,32.626,8.267,30.8576,22.1264,10.9783,2.5652,10.9663,14.382,13.3708,24.2697,21.236,31.4607,30.5618,25.1685,20.0,23.3708,15.5056,23.9326,13.8202,1.4831,3.236,0.6849,0.0,0.6833,3.9043,15.1781,12.4451],"stroke":"#07865c","width":1.5}],"guides":[{"label":"Range centre","values":[50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"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"]},{"key":"participation","eyebrow":"Participation","title":"Activity pressure and cumulative balance","description":"Observed activity is compared with its normal backdrop while cumulative balance tracks directional participation.","reason":"Selected because participation is confirming or diverging from the latest price path.","series":[{"label":"Activity versus 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