{"schema_version":"1.0","name":"SRAD Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"fd9a5013-f589-4233-93ae-611cf56f1aa5","symbol":"SRAD","name":"Stelrad Group PLC","exchange":"LSE","country":"GB","asset_type":"equity","currency":"GBP","sector":"Industrials","industry":"Building Products & Equipment"},"summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. The upward price structure remains intact, but its underlying support has weakened.","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, Activity pressure and cumulative balance, Range pressure and compression, Acceleration, deceleration and rollover, Strength versus the research benchmark."},{"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":250,"displayedObservations":104,"assetType":"Equity","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. The upward price structure remains intact, but its underlying support has weakened.","evidenceAlignment":{"status":"Confirmation weakening","headline":"Upward price structure remains intact, but support is fading","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. The upward price structure remains intact, but its underlying support has weakened.","take":"Treat the advance as conditional. Renewed Market Dynamics would restore confirmation; continued contraction would increase rollover 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record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-2.3,"sample":3},{"week":2,"averageReturn":-2.0,"sample":3},{"week":3,"averageReturn":-7.4,"sample":3},{"week":4,"averageReturn":-8.6,"sample":3},{"week":5,"averageReturn":-9.9,"sample":3},{"week":6,"averageReturn":-7.4,"sample":3},{"week":7,"averageReturn":-6.5,"sample":3},{"week":8,"averageReturn":-6.3,"sample":3},{"week":9,"averageReturn":-7.8,"sample":3},{"week":10,"averageReturn":-6.5,"sample":3},{"week":11,"averageReturn":-11.6,"sample":3},{"week":12,"averageReturn":-12.7,"sample":3},{"week":13,"averageReturn":-17.0,"sample":3},{"week":14,"averageReturn":-17.0,"sample":3},{"week":15,"averageReturn":-16.3,"sample":3},{"week":16,"averageReturn":-15.4,"sample":3},{"week":17,"averageReturn":-16.7,"sample":3},{"week":18,"averageReturn":-18.5,"sample":3},{"week":19,"averageReturn":-20.8,"sample":3},{"week":20,"averageReturn":-21.9,"sample":3},{"week":21,"averageReturn":-22.0,"sample":3},{"week":22,"averageReturn":-21.8,"sample":3},{"week":23,"averageReturn":-18.7,"sample":3},{"week":24,"averageReturn":-17.6,"sample":3},{"week":25,"averageReturn":-20.8,"sample":3},{"week":26,"averageReturn":-20.0,"sample":3}]},"currentApplication":{"status":"Confirmation weakening","tone":"caution","headline":"Market Dynamics remains positive but has weakened over four weeks","use":"The upward structure still has positive support, but renewed strength is needed to restore full confirmation.","confirm":"Treat the advance as conditional. Renewed Market Dynamics would restore confirmation; continued contraction would increase rollover risk.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"weakening","zone":"middle","zoneContext":"Market Dynamics remains above zero, but support has contracted across the recent completed path. Price confirmation now carries more weight.","historical":{"label":"Broad directional cases","weeks":12,"sample":0},"nowContext":{"label":"Easier this week","detail":"Market Dynamics eased this week but remains positive."},"fourWeekContext":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"priceContext":{"label":"Price structure is upward","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":"Zone positioning","title":"Use distribution to protect capital before considering the short case","tone":"negative","finding":"After distribution, 100.0% of completed 12-week outcomes were lower across 4 cases. Distinct visits lasted 1.8 weeks on average before leaving the zone.","approach":"Review long exposure and define the evidence that would confirm a rollover. Short exposure should begin only after price weakens and the loss limit is known.","watch":"A sustained repair in price and Market Dynamics invalidates the downside setup."},{"eyebrow":"Disagreement playbook","title":"Use unsupported price strength to tighten discipline","tone":"caution","finding":"Comparable disagreements produced an average pullback of 9.5% across 13 completed cases, with the largest move arriving after 5.8 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":[],"distribution_rollovers":[{"date":"2025-08-08","price":159.910507},{"date":"2025-08-29","price":167.406311},{"date":"2025-09-12","price":162.908829}],"price_pressure_gaps":[{"date":"2025-08-22","price":169.904907},{"date":"2025-09-05","price":169.904907},{"date":"2025-10-31","price":169.935928}]}},"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":[142.3427,144.3405,149.8345,151.8322,150.8333,150.3339,153.83,151.3625,149.8638,147.3661,149.8638,148.8647,147.3661,140.872,139.8729,137.8747,139.8729,137.8747,137.8747,141.8711,143.8693,140.3725,141.8711,142.8702,144.3688,141.8711,141.3716,138.3743,134.8775,132.8793,136.8756,135.377,131.8802,133.8784,137.8747,133.4253,132.4259,134.9245,140.9211,139.9217,144.9189,145.9183,143.9194,149.9161,163.9083,166.9066,175.4018,171.9038,174.4024,170.4046,159.9105,162.4091,169.9049,167.4063,169.9049,162.9088,160.4102,162.4091,166.4069,161.939,162.9386,163.9382,169.9359,167.9367,169.4361,146.9446,138.9476,134.9491,142.4463,150.9431,144.9454,137.948,137.4482,135.9487,136.4486,140.9469,141.9465,140.9469,143.9457,135.9487,132.9499,129.951,124.4531,120.4546,120.4546,132.4501,133.9495,127.0,131.0,130.5,130.5,136.0,136.0,142.0,153.0,155.0,152.0,150.0,154.0,162.0,160.0,152.0,155.0,155.0],"consensus":[0.0,39.1731,57.7018,35.9418,24.9638,25.7616,40.2591,13.5617,0.0,-9.6619,16.2064,0.0,-10.0287,-43.0776,-20.2166,-22.3472,0.0,-15.8337,0.0,23.8934,12.4562,-9.4554,9.355,0.0,0.0,0.0,0.0,-19.0015,-31.9623,-27.6325,0.0,-10.4344,-30.4756,0.0,19.4166,-21.3651,-14.3978,18.5232,39.6826,0.0,46.4901,33.6696,10.7075,53.3281,70.5635,54.2465,66.9389,28.186,40.4084,14.6809,-30.7595,0.0,32.956,0.0,27.289,-26.7252,-22.536,0.0,12.6381,-19.3238,0.0,0.0,30.7435,0.0,17.3679,-65.1485,-54.9777,-46.6791,0.0,21.4986,-25.1185,-36.5934,-22.1848,-29.4938,-16.2178,14.5135,0.0,0.0,14.7017,-46.7014,-32.1285,-36.7608,-46.755,-45.5648,-27.0135,31.9224,17.9808,-33.8228,15.3306,0.0,0.0,40.6237,14.1459,44.921,57.3136,27.9523,28.3907,24.8791,43.3389,55.5777,21.2903,-17.3707,18.4341,15.5534],"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":[45.4934,0.0,24.0878,-25.0877,-19.9764,0.0,21.4555,-24.3895,0.0,0.0,31.0897,0.0,16.295,-60.9494,-56.8699,-41.3698,0.0,18.5757,-33.8658,-46.2813,-19.1028,-23.5212,-8.7386,11.4766,0.0,0.0,12.9821,-48.4365,-33.1419,-37.7045,-45.3333,-41.2641,-20.7214,30.1371,14.8992,-39.7522,6.5326,0.0,0.0,31.0901,10.9282,50.1369,61.9421,8.5799,29.7424,19.5818,51.3668,59.4205,19.409,-26.6622,19.2139,28.0361],"force":[33.9782,0.0,22.1856,-66.908,-27.2357,0.0,14.2472,-27.178,0.0,0.0,43.8388,0.0,12.5909,-88.5912,-43.5499,-31.4487,0.0,66.512,-25.0004,-32.5307,-3.2359,-13.3326,-4.2189,52.5891,0.0,0.0,22.923,-70.9387,-24.5848,-28.4544,-42.5942,-42.0725,-4.8719,78.4386,25.1235,-64.7122,33.6049,0.0,0.0,73.2196,7.3264,37.7605,45.4829,12.0621,11.6928,6.2769,38.6348,51.8985,16.6435,-55.0239,9.7072,7.888],"direction":[17.8973,0.0,34.5927,-0.1054,-22.1044,0.0,1.4117,-7.9243,0.0,0.0,20.9942,0.0,22.0061,-53.2026,-60.978,-63.6258,0.0,7.3134,-15.2059,-28.4234,-39.2418,-47.8634,-39.363,9.2127,0.0,0.0,10.7944,-27.4061,-36.3586,-41.6155,-51.3517,-52.9744,-50.0199,0.737,16.4006,-4.9824,12.3325,0.0,0.0,28.2364,22.6943,44.0747,60.4744,61.4422,55.4769,44.2205,37.5242,53.8139,50.5358,-20.1431,23.7764,6.7629],"intensity":[78.8462,21.1538,30.7692,76.9231,69.2308,76.9231,63.4615,53.8462,9.6154,19.2308,69.2308,30.7692,9.6154,100.0,92.3077,94.2308,78.8462,90.3846,65.3846,92.3077,50.0,11.5385,1.9231,53.8462,59.6154,42.3077,28.8462,80.7692,65.3846,36.5385,51.9231,65.3846,25.0,92.3077,86.5385,61.5385,38.4615,5.7692,1.9231,50.0,61.5385,61.5385,96.1538,69.2308,84.6154,15.3846,34.6154,78.8462,78.8462,78.8462,25.0,26.9231],"confirmation":[78.386,27.459,76.6257,55.1575,75.3938,27.2146,49.2922,51.6791,23.9301,1.2579,78.2318,25.3409,73.4285,89.6259,85.2158,82.5541,11.8358,55.1895,75.901,79.4384,51.9019,77.0365,50.9142,30.483,24.4448,24.1409,72.9813,83.6567,78.0358,79.4959,82.8564,82.5398,53.3987,56.9934,74.0185,57.0077,50.9301,1.3831,23.6776,82.1383,49.7012,82.077,85.9093,76.7556,33.004,52.8084,81.6027,85.6142,31.9028,33.5284,73.6211,35.2199],"persistence":[62.5,50.0,50.0,25.0,0.0,12.5,12.5,0.0,12.5,12.5,12.5,0.0,25.0,12.5,12.5,12.5,12.5,0.0,25.0,37.5,62.5,62.5,62.5,37.5,37.5,50.0,25.0,25.0,25.0,25.0,25.0,50.0,62.5,50.0,50.0,50.0,25.0,12.5,0.0,25.0,50.0,50.0,50.0,75.0,75.0,87.5,100.0,100.0,100.0,75.0,75.0,75.0],"assessmentRisk":[47.9228,25.0454,32.6182,17.184,33.7002,39.6882,35.188,0.2868,22.796,13.7854,15.2684,42.9739,37.6852,16.7103,22.4952,26.6527,47.8091,12.8432,44.6512,36.5205,17.0894,33.169,31.7851,11.3652,26.9041,31.249,37.8689,14.6707,31.3449,30.8861,26.6199,27.2009,36.4459,7.8046,39.0606,59.5605,40.7239,16.0952,27.7548,26.4605,31.6632,26.5384,21.3122,35.9606,35.6231,33.2224,10.4898,17.3453,37.3374,27.8542,0.8018,52.2762],"volumeParticipation":true,"latest":{"consensus":15.6,"control":28.0,"force":7.9,"direction":6.8,"confirmation":35.2,"persistence":75.0,"assessmentRisk":52.3,"intensity":26.9,"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 easing","forceState":"Commitment is limited","forcePath":"Commitment is easing","directionState":"Follow-through is limited","persistenceState":"Established","confirmationState":"Limited support","riskState":"Present","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+15.6","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+28.0","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+7.9","detail":"Commitment is limited","tone":"positive"},{"label":"SM Direction Gauge","value":"+6.8","detail":"Follow-through is 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