{"schema_version":"1.0","name":"ZERGY Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"f4c20b1a-eae8-4be1-90a2-da903ff48309","symbol":"ZERGY","name":"Zeray Gayrimenkul Yatirim Ortakligi Anonim Sirketi","exchange":"IST","country":"TR","asset_type":"equity","currency":"TRY","sector":"Real Estate","industry":"Reit - Residential"},"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 evidence","description":"Six condition-selected views: Trend, acceptance and volatility envelope, Drawdown and recovery pressure, Range pressure and compression, Range position and boundary pressure, Activity pressure and cumulative balance, Directional strength and control."},{"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":36,"displayedObservations":36,"assetType":"Equity","state":"Aligned downward","stateTone":"negative","summary":"Price structure and the underlying tape currently reinforce the same downside read.","evidenceAlignment":{"status":"Evidence aligned downward","headline":"Downward price structure is confirmed by Market Dynamics","summary":"Price structure and the underlying tape currently reinforce the same downside read.","take":"The downside state remains confirmed until Market Dynamics repairs or price structure changes.","tone":"negative","conflict":false},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[-0.86255,-1.198469,-1.293443,-1.301147,-1.330757,-1.338818,-1.339352,-1.361951],"opens":[10.6,10.7,10.28,10.04,10.3,9.11,8.92,8.94],"highs":[10.79,10.78,10.29,10.94,10.81,9.4,9.62,9.32],"lows":[10.4,10.4,9.94,9.85,8.44,8.62,8.7,8.66],"closes":[10.58,10.5,9.99,10.24,9.1,8.91,8.94,8.92],"hoverRows":[[{"label":"Open","value":"10.6","className":"is-ohlc","compact":true},{"label":"High","value":"10.8","className":"is-ohlc","compact":true},{"label":"Low","value":"10.4","className":"is-ohlc","compact":true},{"label":"Close","value":"10.6","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.86","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"10.7","className":"is-ohlc","compact":true},{"label":"High","value":"10.8","className":"is-ohlc","compact":true},{"label":"Low","value":"10.4","className":"is-ohlc","compact":true},{"label":"Close","value":"10.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.20","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"10.3","className":"is-ohlc","compact":true},{"label":"High","value":"10.3","className":"is-ohlc","compact":true},{"label":"Low","value":"9.94","className":"is-ohlc","compact":true},{"label":"Close","value":"9.99","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.29","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"10.0","className":"is-ohlc","compact":true},{"label":"High","value":"10.9","className":"is-ohlc","compact":true},{"label":"Low","value":"9.85","className":"is-ohlc","compact":true},{"label":"Close","value":"10.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.30","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"10.3","className":"is-ohlc","compact":true},{"label":"High","value":"10.8","className":"is-ohlc","compact":true},{"label":"Low","value":"8.44","className":"is-ohlc","compact":true},{"label":"Close","value":"9.10","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.33","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"9.11","className":"is-ohlc","compact":true},{"label":"High","value":"9.40","className":"is-ohlc","compact":true},{"label":"Low","value":"8.62","className":"is-ohlc","compact":true},{"label":"Close","value":"8.91","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.34","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"8.92","className":"is-ohlc","compact":true},{"label":"High","value":"9.62","className":"is-ohlc","compact":true},{"label":"Low","value":"8.70","className":"is-ohlc","compact":true},{"label":"Close","value":"8.94","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.34","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"8.94","className":"is-ohlc","compact":true},{"label":"High","value":"9.32","className":"is-ohlc","compact":true},{"label":"Low","value":"8.66","className":"is-ohlc","compact":true},{"label":"Close","value":"8.92","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.36","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[8.8098,10.6802],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-1.361951,"state":"Negative and broadly steady","context":{"scenario":"negativeSteady","latestDirection":"slight easing","fourWeekDirection":"steady","now":{"label":"Slightly easier this week","detail":"Market Dynamics weakened this week and remains below zero."},"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":"Accumulation pressure","detail":"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.","tone":"negative"},"chartSummary":"Price is in the accumulation zone. The Market Dynamics bars show whether underlying conditions are repairing or continuing to weaken.","summary":"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.","annotations":[{"label":"Current tape relationship","value":"Accumulation pressure","detail":"Market Dynamics weakened this week and remains below zero.","tone":"negative"},{"label":"Price location","value":"Accumulation zone","detail":"Price is being tested for a confirmed recovery through the lower zone.","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":"Supported","detail":"The broader path has not changed enough to establish a new direction.","tone":"positive"}],"relationshipEvidence":{"available":false,"observations":24,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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","2026-08-21"],"close":[15.73,11.3,9.97,9.89,10.13,12.14,15.66,18.64,18.6,18.69,14.91,18.29,21.36,22.9,19.31,22.96,23.34,21.4,20.0,19.38,21.2,16.04,14.76,14.24,16.9,13.96,13.55,12.26,10.58,10.5,9.99,10.24,9.1,8.91,8.94,8.92],"consensus":[100.0,-100.0,-84.3137,20.5417,-60.6722,14.8534,58.2056,71.9458,27.72,36.0518,-43.8101,42.8288,66.1723,64.5159,0.0,61.6938,25.2437,-8.0859,-11.991,-14.0528,18.0108,-59.7784,-40.5947,-43.379,8.0863,-48.2126,-19.8547,-45.0469,-46.4883,-41.7329,-48.1383,-31.1178,-51.7036,-37.3357,-33.7833,-31.3351],"supportDates":["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","2026-08-21"],"control":[null,null,null,null,null,21.353,54.0254,59.8674,8.9477,23.6113,-41.8817,47.5799,72.489,70.2396,0.0,60.4978,18.9688,-8.0236,-22.485,-8.423,28.0161,-52.3707,-35.753,-46.8124,26.9278,-57.6541,-13.588,-50.6866,-44.3069,-42.1719,-51.6921,-30.7762,-51.9753,-37.7898,-37.231,-31.459],"force":[100.0,-100.0,-84.3137,20.5417,-8.9892,40.3305,53.4796,84.7656,5.2029,9.0146,-87.5861,51.8026,55.4018,43.3272,0.0,54.4735,5.2533,-38.3095,-27.8303,-19.3221,22.3925,-92.1246,-35.0404,-25.2754,33.5488,-38.8188,-0.1806,-29.3,-27.8234,-16.2176,-24.8575,-0.245,-49.7035,-14.8656,-9.2238,-8.7461],"direction":[null,null,null,null,-97.5887,10.7727,66.3586,76.5927,72.6905,69.5817,-14.7456,30.9892,66.6465,73.1092,0.0,68.2181,46.6939,-13.4312,-11.3159,-16.7231,3.4463,-45.1399,-50.0953,-52.3862,31.6345,-44.1323,-41.3274,-49.8494,-62.3134,-59.4564,-60.706,-53.5602,-52.8216,-52.8668,-47.3856,-47.3285],"intensity":[null,null,null,null,25.0,60.0,83.3333,100.0,62.5,44.4444,80.0,63.6364,83.3333,53.8462,71.4286,73.3333,87.5,76.4706,11.1111,31.5789,20.0,100.0,100.0,34.7826,41.6667,48.0,7.6923,11.1111,42.8571,3.4483,6.6667,12.9032,21.875,24.2424,5.8824,8.5714],"confirmation":[54.6667,54.6667,49.6471,29.24,62.3858,30.3953,86.5454,91.5974,54.5964,78.9021,83.3828,81.9063,88.7506,87.9121,34.3118,87.5402,52.8977,29.0415,29.2407,72.7433,51.0779,88.2278,80.8948,81.2772,32.4918,82.9979,51.2102,81.8492,82.3407,80.5702,82.6406,54.3554,84.48,79.2557,78.0096,85.3369],"persistence":[null,null,33.3333,0.0,20.0,0.0,14.2857,25.0,25.0,50.0,50.0,50.0,75.0,75.0,62.5,62.5,62.5,37.5,37.5,12.5,12.5,12.5,25.0,50.0,50.0,50.0,50.0,50.0,75.0,75.0,75.0,75.0,100.0,100.0,100.0,100.0],"assessmentRisk":[null,null,null,null,19.4333,11.2418,19.8292,13.9223,36.0563,31.6743,7.1718,28.2171,6.4587,14.4722,48.8598,17.0892,21.2009,22.5597,19.0878,37.8894,44.9265,18.0806,27.4534,26.4445,50.8225,10.3983,13.5299,12.909,26.6292,26.7036,23.8157,24.0727,7.0456,17.5922,17.532,23.8554],"volumeParticipation":true,"latest":{"consensus":-31.3,"control":-31.5,"force":-8.7,"direction":-47.3,"confirmation":85.3,"persistence":100.0,"assessmentRisk":23.9,"intensity":8.6,"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":"Broadly stable","forceState":"Commitment is limited","forcePath":"Broadly stable","directionState":"Downward follow-through","persistenceState":"Established","confirmationState":"Strong support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-31.3","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-31.5","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-8.7","detail":"Commitment is limited","tone":"negative"},{"label":"SM Direction Gauge","value":"-47.3","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"85/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"26.5","detail":"Stretched negative","tone":"negative"},{"label":"Risk pressure","value":"24.2%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"23.0","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"2%","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":[15.73,11.3,9.97,9.89,10.13,12.14,15.66,18.64,18.6,18.69,14.91,18.29,21.36,22.9,19.31,22.96,23.34,21.4,20.0,19.38,21.2,16.04,14.76,14.24,16.9,13.96,13.55,12.26,10.58,10.5,9.99,10.24,9.1,8.91,8.94,8.92],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,12.7008,12.5989,13.1554,14.1526,14.9612,15.6392,15.5066,16.0127,16.9849,18.0604,18.2876,19.1371,19.9013,20.1738,20.1422,20.0036,20.2211,19.4609,18.6062,17.8124,17.6465,16.9762,16.3533,15.609,14.6947,13.932,13.2153,12.6743,12.0244,11.4582,11.0003,10.6221],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,15.8103,16.3354,16.5558,17.0301,17.4975,17.7866,17.9506,18.0565,18.2893,18.1227,17.8736,17.6044,17.5523,17.2862,17.0094,16.6576,16.2074,15.7846,15.3554,14.9765,14.5412,14.1241,13.7401,13.383],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,21.2649,21.023,21.4618,22.6511,23.9815,24.1551,25.0437,25.8234,26.0857,26.1057,26.0466,26.4554,26.2636,25.8613,25.3831,24.7404,24.4979,24.6711,24.9292,25.2978,25.5178,25.8358,25.9163,25.6205,24.8843,24.5927,23.4822],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,6.8851,7.2788,7.5298,7.3966,7.1913,7.5142,7.5163,7.5672,7.8277,8.128,8.4134,8.5516,9.2174,10.0987,11.0119,12.3316,12.7561,12.3719,11.4758,10.3052,9.2662,8.4562,7.5707,6.6405,5.9777,5.2323,4.9388],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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","2026-08-21"]},{"key":"drawdown","eyebrow":"Path risk","title":"Drawdown and recovery pressure","description":"Capital impairment and recovery are shown together so return is not separated from path difficulty.","reason":"Selected because the current recovery or drawdown path is central to the tape.","series":[{"label":"Drawdown","values":[0.0,-28.1627,-36.6179,-37.1265,-35.6008,-22.8226,-0.445,0.0,-0.2146,0.0,-20.2247,-2.1402,0.0,0.0,-15.6769,0.0,0.0,-8.3119,-14.3102,-16.9666,-9.1688,-31.2768,-36.7609,-38.9889,-27.5921,-40.1885,-41.9452,-47.4722,-54.6701,-55.0129,-57.1979,-56.1268,-61.0111,-61.8252,-61.6967,-61.7823],"stroke":"#c13f3f","width":1.9,"fill":"rgba(193,63,63,.10)"},{"label":"Recovery","values":[null,null,null,null,null,null,null,88.4732,88.0688,88.9788,50.7583,84.9343,115.9757,131.547,95.2477,132.1537,135.996,116.3802,102.2245,95.9555,114.3579,62.184,49.2417,43.9838,70.8797,41.1527,37.0071,23.9636,6.9767,3.6525,0.0,2.5025,0.0,0.0,0.3367,0.1122],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Prior 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tape.","series":[{"label":"Range pressure","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,12.1879,14.9084,13.3539,13.8079,15.3524,16.0894,16.6934,15.2956,22.2278,24.2448,23.8367,19.7745,23.7999,23.2958,24.8401,27.9842,26.4418,26.2069,24.5012,27.4616,26.6691,25.4161,24.1821],"stroke":"#c13f3f","width":1.9},{"label":"Envelope 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ZERGY Technical Research Pack, completed week 2026-08-21, https://sharemaestro.com/terminal/f4c20b1a-eae8-4be1-90a2-da903ff48309/technical-pack/","data_notes":{"time_series":"Parallel time-series arrays align by index with their dates array.","events":"Sparse chart markers are published as compact dated event records rather than null-filled arrays.","missing_values":"A remaining null in an aligned series means that observation is genuinely unavailable; zero remains a valid value."},"boundary":"Completed market observations and published proprietary outputs only. Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}