{"schema_version":"1.0","name":"DLON Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"f549b04a-5236-4264-bb10-1b1547a22905","symbol":"DLON","name":"DLocal Limited","exchange":"MEX","country":"MX","asset_type":"equity","currency":"MXN","sector":"Technology","industry":"Software - Infrastructure"},"summary":"Market Dynamics eased this week but remains positive. The broader path remains constructive, so one softer week does not by itself establish weakening confirmation. Price structure remains rotational.","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, Acceleration, deceleration and rollover, Activity pressure and cumulative balance, Drawdown and recovery pressure, Range position and boundary pressure, 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":"2026-08-14","observations":56,"displayedObservations":56,"assetType":"Equity","state":"Rotational","stateTone":"caution","summary":"Market Dynamics eased this week but remains positive. The broader path remains constructive, so one softer week does not by itself establish weakening confirmation. Price structure remains rotational.","evidenceAlignment":{"status":"Positive support; price rotational","headline":"Market Dynamics is positive while price has no clear direction","summary":"Market Dynamics eased this week but remains positive. The broader path remains constructive, so one softer week does not by itself establish weakening confirmation. Price structure remains rotational.","take":"The underlying condition is constructive, but a positive price response is still required.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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"],"values":[-0.667534,-0.996818,-1.212611,-1.52744,-1.563418,-1.647194,-1.416738,-1.250357,-0.975517,-0.580249,-0.424555,-0.152404,0.19093,0.306066,0.213426,0.140049,-0.084619,-0.291953,-0.170642,-0.068435,0.002038,0.324843,0.646554,0.776484,0.941386,0.973975,0.943576,0.866506],"opens":[237.778137,224.790253,205.807968,216.797714,209.80423,215.798645,215.798645,223.291656,224.790253,224.790253,234.78093,234.78093,241.774399,242.773468,228.706589,191.821012,207.806091,199.0,211.600006,232.0,221.5,267.0,266.0,265.700012,263.0,260.0,265.0,250.0],"highs":[237.778137,224.790253,205.807968,216.797714,215.798645,215.798645,236.779072,230.784655,230.784653,227.78746,234.78093,237.478409,241.774399,242.773479,228.706589,208.805161,207.806091,201.639999,211.600006,232.0,221.5,267.0,266.5,265.700012,263.0,265.0,265.200012,250.0],"lows":[223.641327,205.058667,205.807968,209.80423,206.807037,215.798645,202.810763,221.793045,221.793045,220.594171,234.78093,231.10437,233.78186,229.585785,191.850983,186.925586,200.0,199.0,211.600006,232.0,221.5,267.0,265.0,263.0,244.0,254.0,249.679993,239.0],"closes":[224.790253,205.807968,205.807968,209.80423,215.798645,215.798645,223.291656,221.793045,221.793045,224.790253,234.78093,237.478409,240.77533,229.585785,192.030823,207.806091,205.0,200.0,211.600006,232.0,221.5,267.0,265.700012,263.0,254.0,265.0,249.679993,245.0],"pressureRange":[-1.877801,1.877801],"priceRange":[192.030823,267.0],"zones":{"accumulationBoundary":0.100597,"distributionBoundary":0.899403},"latest":0.866506,"state":"Strong positive despite a softer week","context":{"scenario":"positiveSustained","latestDirection":"easing","fourWeekDirection":"strengthening","now":{"label":"Easier this week","detail":"Market Dynamics eased this week but remains positive."},"fourWeek":{"label":"Strengthened over four weeks","detail":"The broader path remains constructive, so one softer week does not by itself establish weakening confirmation."},"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":"Sustained positive support","detail":"Market Dynamics remains positive and has strengthened across the recent completed path. 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A slight weekly pause does not yet change the broader constructive reading.","historical":{"label":"Broad directional cases","weeks":12,"direction":"higher","percent":100.0,"averageReturn":30.0,"sample":1},"nowContext":{"label":"Easier this week","detail":"Market Dynamics eased this week but remains positive."},"fourWeekContext":{"label":"Strengthened over four weeks","detail":"The broader path remains constructive, so one softer week does not by itself establish weakening confirmation."},"priceContext":{"label":"Price has no clear direction","detail":"Price remains rotational while the Market Dynamics condition develops."}},"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, 100.0% of comparable cases moved higher after 12 weeks, with an average move of 30.0% across 1 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 1 cases. Distinct visits lasted 1.0 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 39.0% across 1 completed cases, with the largest move arriving after 7.0 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":"2026-05-22","price":207.806091}],"distribution_rollovers":[{"date":"2026-08-07","price":249.679993}],"price_pressure_gaps":[{"date":"2026-07-03","price":267.0}]}},"smTape":{"available":true,"dates":["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":[206.3075,206.3075,195.3177,286.7325,281.2376,263.7539,239.7763,252.7641,278.7399,274.7437,257.7595,259.7576,279.739,280.2385,282.7362,254.7623,253.7632,233.7819,233.7819,242.7735,256.7604,254.7623,255.5116,252.2646,264.753,246.7697,239.7763,237.7781,224.7903,205.808,205.808,209.8042,215.7986,215.7986,223.2917,221.793,221.793,224.7903,234.7809,237.4784,240.7753,229.5858,192.0308,207.8061,205.0,200.0,211.6,232.0,221.5,267.0,265.7,263.0,254.0,265.0,249.68,245.0],"consensus":[-100.0,0.0,0.0,100.0,48.4936,14.2745,0.0,48.6425,75.5986,20.7482,0.0,22.5972,58.2131,33.7727,38.8371,-41.8173,-22.0771,-56.4362,-34.4172,0.0,31.8941,10.0394,0.0,-12.6814,29.8783,-44.5274,-36.7215,-38.2308,-70.4948,-80.1183,-40.5286,-47.7744,0.0,-16.011,24.7365,-15.491,-13.7798,13.5059,32.2795,42.4601,44.2082,-30.4109,-74.5231,0.0,-32.6764,-41.4899,10.8969,43.5032,0.0,56.2757,36.192,21.0261,18.051,59.779,-31.5994,17.4001],"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":[null,16.9488,0.0,64.9798,90.7619,1.6706,0.0,9.478,52.6188,31.3535,22.9519,-39.1079,-12.2298,-61.2488,-28.059,0.0,44.1972,5.0012,0.0,-26.4617,26.0495,-48.8867,-32.1132,-33.6099,-67.9208,-81.3548,-34.0904,-51.047,0.0,-24.5421,16.027,-26.238,-23.7842,6.0124,33.2033,44.4172,39.641,-36.6083,-71.1218,0.0,-26.94,-40.6904,4.7766,44.9859,0.0,57.3178,30.9551,4.8594,4.2058,68.3355,-27.9957,7.3749],"force":[23.6152,36.1141,0.0,61.9542,85.951,22.3869,0.0,9.7721,79.2851,6.7779,19.5902,-70.6432,-22.2387,-46.9815,-10.4047,0.0,46.6788,8.3761,0.0,-15.9363,36.9143,-57.6424,-31.7663,-35.6452,-88.0633,-94.0564,-10.3009,-17.619,0.0,-7.064,71.0841,-17.5325,-10.2576,33.0162,27.8554,39.9857,46.2263,-77.0662,-99.5356,0.0,-15.9591,-24.2552,30.9897,37.3781,0.0,40.6904,0.0386,17.6105,15.5821,71.3379,-90.6763,47.1572],"direction":[100.0,85.95,0.0,20.463,50.8746,73.3619,0.0,46.7512,49.5551,55.8194,70.7394,-24.3239,-33.2158,-57.6893,-58.8354,0.0,7.273,16.9856,0.0,-5.3923,29.2283,-30.1775,-45.5275,-45.3587,-60.8877,-68.7494,-69.4777,-65.5737,0.0,-22.7434,1.5846,-1.7506,-4.8621,8.134,34.3839,41.9908,47.9862,-9.997,-60.5442,0.0,-51.1733,-54.7142,3.5396,46.1838,0.0,66.2172,68.0009,67.1,57.8977,41.7439,-6.4798,7.6026],"intensity":[75.0,60.0,66.6667,42.8571,75.0,44.4444,60.0,18.1818,75.0,76.9231,21.4286,86.6667,12.5,82.3529,27.7778,26.3158,45.0,23.8095,22.7273,13.0435,58.3333,64.0,65.3846,29.6296,53.5714,68.9655,70.0,38.7097,21.875,30.303,76.4706,65.7143,2.7778,10.8108,50.0,15.3846,20.0,46.3415,95.2381,74.4186,47.7273,26.6667,45.6522,78.7234,37.5,95.9184,8.0,9.8039,73.0769,42.3077,55.7692,55.7692],"confirmation":[19.7784,37.4947,35.7297,83.7224,92.276,10.3914,38.7421,75.0401,87.3556,55.3548,80.0834,82.3013,75.2197,85.6981,78.3786,32.006,55.8026,48.572,3.8942,50.431,77.8338,82.582,79.6701,80.2255,91.133,94.0438,80.146,82.3189,34.9879,51.1306,54.7942,50.1889,49.4831,50.364,78.1805,81.482,82.2777,35.8583,92.6615,35.9087,78.0344,80.7637,26.8593,81.7118,27.3723,85.5174,55.8928,9.5541,8.2865,87.3512,58.6829,29.2944],"persistence":[20.0,33.3333,28.5714,37.5,62.5,75.0,75.0,75.0,75.0,75.0,87.5,62.5,37.5,12.5,0.0,12.5,12.5,12.5,25.0,25.0,0.0,0.0,0.0,12.5,37.5,62.5,75.0,75.0,87.5,87.5,62.5,62.5,62.5,37.5,12.5,12.5,25.0,25.0,0.0,12.5,12.5,12.5,12.5,12.5,25.0,0.0,25.0,37.5,62.5,87.5,62.5,37.5],"assessmentRisk":[22.9772,37.3697,41.1033,60.9558,41.4027,5.7441,28.9049,0.0559,27.4176,7.3462,15.8771,12.5302,35.4984,21.4502,32.5881,33.9669,5.9566,41.3387,46.6352,39.2292,13.27,6.8279,24.8209,22.7782,14.7163,9.8823,29.6259,25.7227,36.0596,48.7189,35.4309,50.9149,35.5279,32.8999,28.8761,27.1488,27.1906,43.584,12.6743,51.3935,33.345,28.431,40.0446,25.3038,39.7894,21.7866,31.5992,36.0216,37.8822,35.1215,18.2357,31.9506],"volumeParticipation":true,"latest":{"consensus":17.4,"control":7.4,"force":47.2,"direction":7.6,"confirmation":29.3,"persistence":37.5,"assessmentRisk":32.0,"intensity":55.8,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the upward view","summary":"The completed evidence gives the upward view the clearer support.","take":"Current assessment: upward pressure has the stronger support.","tone":"positive","supportedView":"Market Dynamics","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Control support is limited","controlPath":"Broadly stable","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Follow-through is limited","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"+17.4","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+7.4","detail":"Control support is limited","tone":"positive"},{"label":"SM Force Gauge","value":"+47.2","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+7.6","detail":"Follow-through is limited","tone":"positive"},{"label":"SM Confirmation Gauge","value":"29/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"52.7","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"5.7%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"13.0","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"73%","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 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}