{"schema_version":"1.0","name":"TXAR Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"ee5d0b30-6a25-4d0e-b753-716a5d6460ff","symbol":"TXAR","name":"Ternium Argentina S.A.","exchange":"BUE","country":"AR","asset_type":"equity","currency":"ARS","sector":"Basic Materials","industry":"Steel"},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. 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cautious, Market Dynamics positive","kind":"disagreement","expectedDirection":"higher","episodes":16,"completedEpisodes":15,"activeEpisodes":1,"medianExpectedMove":22.2,"averageExpectedMove":27.1,"averageWeeksToLargestMove":6.8,"horizons":[{"weeks":4,"sample":16,"expectedCount":8,"expectedPercent":50.0,"averageReturn":10.1,"medianReturn":0.6,"confidenceLow":28.0,"confidenceHigh":72.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":15,"expectedCount":9,"expectedPercent":60.0,"averageReturn":9.2,"medianReturn":11.8,"confidenceLow":35.7,"confidenceHigh":80.2,"confidence":"Mixed historical record"},{"weeks":26,"sample":15,"expectedCount":11,"expectedPercent":73.3,"averageReturn":29.3,"medianReturn":16.7,"confidenceLow":48.0,"confidenceHigh":89.1,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":0.6,"sample":16},{"week":2,"averageReturn":3.4,"sample":16},{"week":3,"averageReturn":8.1,"sample":16},{"week":4,"averageReturn":10.1,"sample":16},{"week":5,"averageReturn":10.9,"sample":16},{"week":6,"averageReturn":9.9,"sample":16},{"week":7,"averageReturn":9.4,"sample":16},{"week":8,"averageReturn":8.1,"sample":15},{"week":9,"averageReturn":13.5,"sample":15},{"week":10,"averageReturn":10.7,"sample":15},{"week":11,"averageReturn":14.3,"sample":15},{"week":12,"averageReturn":9.2,"sample":15},{"week":13,"averageReturn":16.3,"sample":15},{"week":14,"averageReturn":16.7,"sample":15},{"week":15,"averageReturn":20.2,"sample":15},{"week":16,"averageReturn":24.4,"sample":15},{"week":17,"averageReturn":29.1,"sample":15},{"week":18,"averageReturn":30.4,"sample":15},{"week":19,"averageReturn":27.3,"sample":15},{"week":20,"averageReturn":25.0,"sample":15},{"week":21,"averageReturn":29.1,"sample":15},{"week":22,"averageReturn":28.2,"sample":15},{"week":23,"averageReturn":32.4,"sample":15},{"week":24,"averageReturn":27.9,"sample":15},{"week":25,"averageReturn":30.0,"sample":15},{"week":26,"averageReturn":29.3,"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":"Underlying strength ahead of price","tone":"positive","headline":"Underlying strength is leading price","use":"A positive price response is needed before the early upside case is confirmed.","confirm":"Treat the gap as an early-upside opportunity watch. A continued positive price response would confirm that price is catching up with the stronger foundation.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"strengthening","zone":"middle","zoneContext":"Market Dynamics has strengthened across the recent completed path and remains strongly positive, while price has not advanced as far through its range. The gap is an early-upside watch; a positive price response is needed for confirmation.","historical":{"label":"Broad directional cases","weeks":12,"direction":"higher","percent":60.0,"averageReturn":9.2,"sample":15},"nowContext":{"label":"Stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeekContext":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"priceContext":{"label":"Price is lagging the underlying strength","detail":"Market Dynamics has advanced further through its recent range than price. This is positive divergence and an early-upside watch, but price confirmation is still required."}},"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":"Early repair watch","title":"Prepare the case before price confirms the recovery","tone":"recovery","approach":"Use the improvement to move the ticker onto a watchlist or define an entry trigger. Commitment should rise only after price responds; fading Market Dynamics cancels the early case.","finding":"In this ticker's completed record, 60.0% of comparable cases moved higher after 12 weeks, with an average move of 9.2% across 15 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, 100.0% of completed 12-week outcomes were higher across 2 cases. Distinct visits lasted 1.5 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 improving Market Dynamics to prepare, not anticipate","tone":"recovery","finding":"Comparable disagreements produced an average recovery of 27.1% across 15 completed cases, with the largest move arriving after 6.8 weeks on average.","approach":"Define the price level that would confirm the repair. Until that response occurs, keep the idea at watchlist or starter-position size.","watch":"The early repair fails if Market Dynamics fades before price responds."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[{"date":"2025-10-10","price":600.996399}],"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":[836.587,801.9696,735.6196,808.7008,817.3552,819.2783,813.5088,786.5841,766.3906,759.6595,785.6226,734.658,807.7392,903.8986,925.0537,889.4747,887.5515,876.974,861.5885,848.1262,866.3964,765.4291,784.6609,821.2015,773.1218,787.5457,764.4675,692.3479,730.8116,720.2341,788.5073,769.2755,711.5798,737.5428,661.5768,619.2667,579.8414,568.3022,627.9211,652.9225,674.0776,620.2283,597.15,568.3022,605.8044,622.1515,598.1116,631.7675,634.6522,649.0762,608.6892,585.6109,576.9565,548.1088,490.4131,519.2609,529.8384,545.2239,632.2482,600.9964,615.4203,566.8598,701.0023,715.9069,793.7961,761.5827,774.0834,756.2939,774.0834,713.0222,671.1928,673.116,770.7178,770.237,738.5044,677.9239,662.5385,675.52,660.1345,595.7076,636.0946,598.1116,599.0732,636.0946,668.7888,715.0,717.0,697.0,673.5,667.0,615.0,634.0,692.5,684.0,699.5,674.5,683.5,664.0,671.0,664.0,674.0,659.5,715.5,728.0],"consensus":[-38.883,-37.2948,-58.0228,9.7985,0.0,0.0,0.0,-31.9688,-30.1973,-19.3903,0.0,-46.9524,36.5998,61.1283,39.7788,0.0,19.2663,0.0,-12.2514,-12.7987,16.191,-55.6763,-9.5401,14.9929,-43.6945,8.7253,-28.3275,-62.2748,0.0,-19.5214,34.2891,0.0,-35.6837,12.018,-51.0416,-44.6288,-52.4616,-45.3495,8.0697,8.2467,13.9123,-27.8078,-35.5844,-42.0489,0.0,0.0,-24.296,23.6786,12.1474,15.2836,-26.857,-30.3867,-24.0971,-44.6941,-66.3656,0.0,-14.8765,0.0,54.3488,0.0,31.1567,-28.2423,59.9776,30.6647,59.7642,19.8142,36.6845,8.8202,29.887,-24.1466,-35.4453,-10.6759,47.5371,24.2092,0.0,-37.6177,-28.9908,0.0,-23.1881,-58.0028,0.0,-43.9813,-26.1799,17.2425,27.7434,44.8667,21.1738,0.0,-14.3759,-14.4688,-46.9279,0.0,40.9322,0.0,28.3447,0.0,14.1054,-12.4311,0.0,0.0,0.0,-19.9529,54.6469,31.1122],"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":[-22.3197,-42.6735,-65.231,0.0,-11.4718,0.0,52.7197,0.0,27.2033,-34.9267,51.6035,18.6038,48.2254,8.2994,36.1576,2.1822,39.3799,-22.6377,-37.9209,-4.1724,50.7254,23.1051,0.0,-39.0221,-26.1406,0.0,-17.952,-56.7977,0.0,-44.5011,-23.9143,21.1746,31.0618,41.3216,13.434,0.0,-21.5701,-11.7318,-43.8843,0.0,44.2012,0.0,27.7124,0.0,23.277,-11.2147,0.0,0.0,0.0,-19.6497,48.5363,20.1674],"force":[-17.3656,-50.6796,-86.2352,0.0,-3.9971,0.0,72.3529,0.0,33.2908,-58.7605,87.1633,16.8096,75.6234,13.0667,18.553,16.93,18.1674,-59.9512,-47.7951,-4.9916,74.8249,10.9782,0.0,-70.9601,-23.956,0.0,-17.3666,-72.3214,0.0,-42.5503,-9.6036,37.2672,43.7632,58.373,7.8769,0.0,-25.7179,-18.1126,-59.9363,0.0,66.2886,0.0,22.0486,0.0,14.1473,-14.6649,0.0,0.0,0.0,-34.9575,87.7658,31.0868],"direction":[-30.9365,-42.7279,-53.4696,0.0,-32.2488,0.0,43.3504,0.0,34.1504,-1.1957,50.1297,54.3452,61.6233,56.4602,50.2377,39.7873,27.4092,-0.2964,-23.7947,-22.1686,24.4021,34.9217,0.0,-12.1966,-35.8445,0.0,-33.3305,-49.1525,0.0,-44.4095,-40.6095,1.5546,12.5081,39.2708,39.517,0.0,-1.9473,-14.9939,-41.1145,0.0,19.0845,0.0,33.5646,0.0,3.5937,-12.2257,0.0,0.0,0.0,-9.5818,37.974,43.6387],"intensity":[17.3077,23.0769,71.1538,67.3077,78.8462,5.7692,92.3077,57.6923,11.5385,59.6154,100.0,100.0,88.4615,90.3846,15.3846,26.9231,65.3846,71.1538,88.4615,19.2308,92.3077,34.6154,25.0,69.2308,53.8462,1.9231,9.6154,73.0769,44.2308,46.1538,23.0769,30.7692,30.7692,76.9231,59.6154,9.6154,15.3846,1.9231,80.7692,28.8462,75.0,55.7692,11.5385,23.0769,1.9231,15.3846,9.6154,3.8462,9.6154,13.4615,71.1538,86.5385],"confirmation":[75.533,82.5153,89.8598,8.9998,50.4232,3.4032,85.9651,28.3827,78.0954,55.4542,88.149,77.5742,87.7837,30.9681,79.1945,6.2826,77.062,54.1744,79.6811,26.0088,83.9949,75.3605,4.6976,81.0324,77.167,26.9219,75.3226,87.0156,31.2398,82.0225,75.9069,51.733,77.3155,82.823,51.8216,28.0276,50.5851,72.7828,83.4597,28.5645,81.8213,3.7446,76.8881,28.1188,49.7086,72.0646,26.1693,25.0769,48.6236,74.8468,86.5895,86.1219],"persistence":[12.5,25.0,25.0,37.5,62.5,75.0,50.0,37.5,12.5,12.5,12.5,25.0,50.0,62.5,62.5,75.0,75.0,75.0,50.0,25.0,25.0,25.0,12.5,12.5,37.5,25.0,25.0,25.0,37.5,62.5,75.0,50.0,25.0,12.5,12.5,25.0,12.5,12.5,12.5,0.0,0.0,12.5,12.5,12.5,12.5,12.5,25.0,25.0,12.5,0.0,0.0,12.5],"assessmentRisk":[36.3816,27.5911,16.7969,47.4214,38.8821,5.5152,22.7858,47.6323,33.605,39.9898,13.0696,33.5335,19.9879,40.0101,25.5539,28.9547,33.6739,23.5224,29.7263,40.7673,26.7445,26.2048,40.6004,23.9924,34.5996,45.4693,36.5427,19.0875,29.9093,25.1301,31.7657,28.4343,17.9744,27.4147,39.2689,45.9192,14.4735,38.0787,26.2672,46.0309,5.3234,24.9596,35.4812,46.8172,21.7157,23.5865,41.8871,15.4932,21.6138,1.1759,18.0479,33.891],"volumeParticipation":true,"latest":{"consensus":31.1,"control":20.2,"force":31.1,"direction":43.6,"confirmation":86.1,"persistence":12.5,"assessmentRisk":33.9,"intensity":86.5,"evidenceDepth":100},"analysis":{"status":"Joint upward confirmation","headline":"The gauges support the upward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same upward assessment.","take":"Current assessment: upward pressure has broad support.","tone":"positive","supportedView":"Price structure and Market Dynamics","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Control support is strengthening","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+31.1","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+20.2","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+31.1","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+43.6","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"86/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"58.1","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"7.1%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"10.5","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"78%","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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