{
  "ticker": {
    "uuid": "0a00107a-86eb-47ed-9ca4-4b9ac86adf71",
    "symbol": "AM",
    "name": "Dassault Aviation soci\u00e9t\u00e9 anonyme",
    "exchange": "PAR",
    "country": "FR",
    "assetType": "equity"
  },
  "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.",
  "analysis": {
    "eligible": true,
    "as_of": "2026-08-07",
    "benchmark": "^FCHI",
    "stage": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 81.065,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Balance after decline",
    "architecture_gate": "down",
    "architecture_direction": 1.412,
    "architecture_energy": 6.365,
    "architecture_maturity": 27.757,
    "architecture_confidence": 83.496,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "Directional pressure has compressed into balance.",
        "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base."
      },
      "scores": {
        "balance": 68.68,
        "rotation_up": 31.17,
        "upward_expansion": 27.06,
        "deceleration": 43.28,
        "rotation_down": 22.67,
        "downward_expansion": 49.06
      },
      "activity_lines": [
        302.213342,
        299.040004,
        297.668915,
        302.282037
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.0
    },
    "latest_close": 316.200012,
    "trend_reference": 308.530275,
    "distance_from_trend": 0.024859,
    "trend_direction": "Improving",
    "fair_value": 235.462683,
    "distance_from_fair_value": 0.342888,
    "fair_value_direction": "Improving",
    "relative_strength": 0.734962,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.01454,
    "excess_performance": -0.038771,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.024859,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.029227,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.342888,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.073112,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.00735,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.04569,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.01454,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.73453,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 249612,
      "relative_activity": 1.118918,
      "balance": 1.73453,
      "dry_up": 1.217844,
      "accumulation_observations": 4,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.056919,
      "annualized_volatility": 0.340976,
      "from_high_reference": -0.111086,
      "from_low_reference": 0.233164
    },
    "levels": {
      "trend_reference": 308.530275,
      "fair_value_reference": 235.462683,
      "structural_low": 270.0,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 13,
        "median_return": 0.038803,
        "positive_rate": 0.692308,
        "directional_follow_through": 0.692308,
        "median_excess_return": 0.028715,
        "regime_survival": 0.692308,
        "best_return": 0.097895,
        "worst_return": -0.054967,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": 0.119666,
        "positive_rate": 0.833333,
        "directional_follow_through": 0.833333,
        "median_excess_return": 0.075949,
        "regime_survival": 0.333333,
        "best_return": 0.603529,
        "worst_return": -0.155029,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.346313,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.350769,
        "regime_survival": 0.25,
        "best_return": 0.612283,
        "worst_return": 0.065438,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.49194,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.481815,
        "regime_survival": 0.0,
        "best_return": 0.692523,
        "worst_return": 0.152348,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2023-12-29",
        "end": "2024-03-29",
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        "return": 0.138393,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "tenure": "Developing",
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      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "active": false
      },
      {
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        "label": "Balance",
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      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "end": "2025-08-08",
        "tenure": "Developing",
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        "active": false
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      {
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        "active": false
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      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "end": "2026-01-09",
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        "active": false
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        "active": false
      },
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        "regime": "upward_expansion",
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        "date": "2026-05-08",
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        "date": "2026-05-22",
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      },
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        "date": "2026-06-05",
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      },
      {
        "date": "2026-06-12",
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      },
      {
        "date": "2026-06-26",
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      },
      {
        "date": "2026-07-03",
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      },
      {
        "date": "2026-07-10",
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      },
      {
        "date": "2026-07-17",
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        "volume": 227448,
        "typical_volume": 236860.75,
        "trend": 306.254343,
        "fair_value": 232.801583,
        "relative_strength": -4.741529,
        "stage": 3,
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      },
      {
        "date": "2026-07-24",
        "close": 299.200012,
        "volume": 340418,
        "typical_volume": 234359.8,
        "trend": 307.320058,
        "fair_value": 233.654531,
        "relative_strength": -0.665311,
        "stage": 3,
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        "direction": -45.905607,
        "energy": 24.798074,
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      },
      {
        "date": "2026-07-31",
        "close": 299.200012,
        "volume": 269245,
        "typical_volume": 231580.35,
        "trend": 308.103929,
        "fair_value": 234.482441,
        "relative_strength": -2.2678,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -44.82242,
        "energy": 24.289271,
        "activity_lines": [
          295.266673,
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      },
      {
        "date": "2026-08-07",
        "close": 316.200012,
        "volume": 249612,
        "typical_volume": 223083.35,
        "trend": 308.530275,
        "fair_value": 235.462683,
        "relative_strength": 0.734962,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": 1.411568,
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      }
    ],
    "method": {
      "price_basis": "completed market observations",
      "trend": "Trend provides the primary directional reference.",
      "fair_value": "Fair Value provides long-term price context and is not a forecast or target.",
      "relative_strength": "Relative Strength shows leadership or lagging performance against the market benchmark.",
      "classification": "The SM framework combines Trend, Activity, Fair Value, Relative Strength and participation into a structural read."
    }
  }
}