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If I recall correctly, with the default Bags UI (no add-ons that modify its features or modify item tooltips) the "researchable" icon only appears on an item which is in the Bags of a character who can use it to research its Trait for crafting. It also appears on items in the Bank which the character accessing the Bank account can use for research.
However, I don't recall whether the "researchable" icon is shown while an item is categorized as Junk in the character's Bags. If it does not, then the icon's absence is not neccessarily a bug in the software -- unless, of course, the icon was shown on researchable items in the Junk category previously, but now it is not.
While you are interacting with a Merchant and use the Sell feature, then the "researchable" icon should be displayed (unless, perhaps, the item is categorized as Junk in the character's Bags).
Although I have two characters that have been researching traits for the past several months, I don't recall whether the "researchable" icon has ever been absent when it should have been present. Frankly, I would seldom have any reason to notice its absence when it should have been displayed. On about 90% of the occasions when I sell items to a merchant, I use the "Sell All Junk" key-bind on the UI. Sometimes I follow it up by using the Sell feature to check whether I overlooked anything.
However, I also use the PC/Mac add-on Dolgubon's Lazy Writ Crafter. It adds the researchable icon to all items with Traits that currently can be researched by at least one of the player's characters. It also modifies each such item's tooltip to list the character(s) which can use it to research its Trait. It doesn't matter where the researchable item is currently stored, whether in any character's bags, in the Bank, or in a Homestead storage chest or coffer. If I recall correctly, it will show the "reasearchable" icon on items which are categorized as Junk.
As a result, since I have a "mule toon" on which items are stored (the character rarely leaves the Bank), every item which has a Trait is "researchable" by that "alt" regardless of its current location. So each and every weapon and pice of armor which has a Trait will always have the icon shown and tooltip modified, regardless of the item's location. If there is an anomaly in the default Base Game UI, then the addon probably would mask it.
--- Shadowshire .......... ESO Plus on PC NA with Windows 7 Pro SP1