{
  "ticker": {
    "uuid": "14922604-6947-4d17-bd1d-bd3ca49958f4",
    "symbol": "RHK",
    "name": "RH\u00d6N-KLINIKUM Aktiengesellschaft",
    "exchange": "GER",
    "country": "DE",
    "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": "^GDAXI",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 84.537,
    "architecture_energy": 53.094,
    "architecture_maturity": 28.722,
    "architecture_confidence": 71.803,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding upward.",
        "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing."
      },
      "scores": {
        "balance": 23.71,
        "rotation_up": 64.29,
        "upward_expansion": 77.06,
        "deceleration": 66.61,
        "rotation_down": 14.72,
        "downward_expansion": 6.06
      },
      "activity_lines": [
        13.68,
        13.436364,
        12.99168,
        12.826309
      ],
      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.5
    },
    "latest_close": 15.0,
    "trend_reference": 12.714587,
    "distance_from_trend": 0.179747,
    "trend_direction": "Improving",
    "fair_value": 12.12398,
    "distance_from_fair_value": 0.237218,
    "fair_value_direction": "Improving",
    "relative_strength": 12.128388,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.172608,
    "excess_performance": 0.107968,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.179747,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.02118,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.237218,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.241752,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.121284,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.146086,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.172608,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.886779,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 77067,
      "relative_activity": 6.494693,
      "balance": 0.886779,
      "dry_up": 1.893116,
      "accumulation_observations": 1,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.0512,
      "annualized_volatility": 0.282437,
      "from_high_reference": -0.044586,
      "from_low_reference": 0.349018
    },
    "levels": {
      "trend_reference": 12.714587,
      "fair_value_reference": 12.12398,
      "structural_low": 11.808,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 15,
        "median_return": -0.02459,
        "positive_rate": 0.266667,
        "directional_follow_through": 0.266667,
        "median_excess_return": -0.017556,
        "regime_survival": 0.666667,
        "best_return": 0.088235,
        "worst_return": -0.14,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": -0.04373,
        "positive_rate": 0.333333,
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        "worst_return": -0.200164,
        "sufficient": true
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      {
        "horizon": "Extended",
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        "median_return": 0.024194,
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        "regime_survival": 0.4,
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        "worst_return": -0.209257,
        "sufficient": true
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        "horizon": "Full cycle",
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        "worst_return": -0.182899,
        "sufficient": false
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        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -20.415504,
        "energy": 37.725199,
        "activity_lines": [
          12.14912,
          12.273164,
          12.489772,
          12.473735
        ]
      },
      {
        "date": "2026-05-01",
        "close": 12.2016,
        "volume": 2121,
        "typical_volume": 5849.5,
        "trend": 12.35904,
        "fair_value": 12.062281,
        "relative_strength": -0.931271,
        "stage": 1,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -28.581373,
        "energy": 32.290967,
        "activity_lines": [
          12.1688,
          12.235593,
          12.45088,
          12.46527
        ]
      },
      {
        "date": "2026-05-08",
        "close": 12.0048,
        "volume": 15122,
        "typical_volume": 5957.55,
        "trend": 12.37544,
        "fair_value": 12.059481,
        "relative_strength": -2.480219,
        "stage": 1,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -34.210211,
        "energy": 33.435112,
        "activity_lines": [
          12.10976,
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          12.39512,
          12.442416
        ]
      },
      {
        "date": "2026-05-15",
        "close": 12.3984,
        "volume": 1390,
        "typical_volume": 5940.55,
        "trend": 12.40496,
        "fair_value": 12.058585,
        "relative_strength": 2.364028,
        "stage": 1,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -13.625152,
        "energy": 13.850642,
        "activity_lines": [
          12.2016,
          12.199811,
          12.381063,
          12.443897
        ]
      },
      {
        "date": "2026-05-22",
        "close": 12.3984,
        "volume": 2470,
        "typical_volume": 5830.8,
        "trend": 12.43448,
        "fair_value": 12.057071,
        "relative_strength": -1.363796,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": -8.872702,
        "energy": 8.347132,
        "activity_lines": [
          12.28032,
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          12.36888,
          12.443474
        ]
      },
      {
        "date": "2026-05-29",
        "close": 12.3,
        "volume": 985,
        "typical_volume": 5633.35,
        "trend": 12.45088,
        "fair_value": 12.054308,
        "relative_strength": -2.84565,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -32.872711,
        "energy": 15.262517,
        "activity_lines": [
          12.3,
          12.24096,
          12.348732,
          12.434798
        ]
      },
      {
        "date": "2026-06-05",
        "close": 12.1,
        "volume": 422,
        "typical_volume": 4671.8,
        "trend": 12.463894,
        "fair_value": 12.051164,
        "relative_strength": -2.951929,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -40.363899,
        "energy": 18.964702,
        "activity_lines": [
          12.246453,
          12.222487,
          12.31141,
          12.41216
        ]
      },
      {
        "date": "2026-06-12",
        "close": 12.6,
        "volume": 605,
        "typical_volume": 4492.45,
        "trend": 12.483734,
        "fair_value": 12.049975,
        "relative_strength": 1.675925,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -19.275827,
        "energy": 12.25087,
        "activity_lines": [
          12.366347,
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          12.420941
        ]
      },
      {
        "date": "2026-06-19",
        "close": 12.6,
        "volume": 1494,
        "typical_volume": 4469.5,
        "trend": 12.503574,
        "fair_value": 12.052539,
        "relative_strength": 0.238748,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -4.706984,
        "energy": 8.627327,
        "activity_lines": [
          12.44656,
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          12.339509,
          12.428442
        ]
      },
      {
        "date": "2026-06-26",
        "close": 12.8,
        "volume": 3030,
        "typical_volume": 4153.05,
        "trend": 12.53008,
        "fair_value": 12.060764,
        "relative_strength": 3.003929,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 25.162902,
        "energy": 28.255526,
        "activity_lines": [
          12.58,
          12.452815,
          12.375383,
          12.447567
        ]
      },
      {
        "date": "2026-07-03",
        "close": 14.0,
        "volume": 7329,
        "typical_volume": 4483.2,
        "trend": 12.586747,
        "fair_value": 12.074805,
        "relative_strength": 7.660135,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 52.555852,
        "energy": 68.268363,
        "activity_lines": [
          13.086667,
          12.750909,
          12.525505,
          12.5424
        ]
      },
      {
        "date": "2026-07-10",
        "close": 13.5,
        "volume": 91461,
        "typical_volume": 8934.5,
        "trend": 12.616907,
        "fair_value": 12.083139,
        "relative_strength": 6.571081,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 45.004967,
        "energy": 68.676179,
        "activity_lines": [
          13.313333,
          12.925396,
          12.623192,
          12.60132
        ]
      },
      {
        "date": "2026-07-17",
        "close": 13.2,
        "volume": 1157,
        "typical_volume": 8926.2,
        "trend": 12.627227,
        "fair_value": 12.092677,
        "relative_strength": 5.012005,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 64.979538,
        "energy": 75.860941,
        "activity_lines": [
          13.346667,
          13.021731,
          12.689406,
          12.638939
        ]
      },
      {
        "date": "2026-07-24",
        "close": 12.9,
        "volume": 6813,
        "typical_volume": 8909.15,
        "trend": 12.630827,
        "fair_value": 12.099041,
        "relative_strength": 1.412188,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 61.741514,
        "energy": 67.209231,
        "activity_lines": [
          13.24,
          13.041789,
          12.725105,
          12.656537
        ]
      },
      {
        "date": "2026-07-31",
        "close": 12.9,
        "volume": 4819,
        "typical_volume": 8764.8,
        "trend": 12.637707,
        "fair_value": 12.105405,
        "relative_strength": -0.667353,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 53.862484,
        "energy": 34.607842,
        "activity_lines": [
          13.113333,
          13.052727,
          12.759352,
          12.673903
        ]
      },
      {
        "date": "2026-08-07",
        "close": 15.0,
        "volume": 77067,
        "typical_volume": 11866.15,
        "trend": 12.714587,
        "fair_value": 12.12398,
        "relative_strength": 12.128388,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 84.536817,
        "energy": 53.094386,
        "activity_lines": [
          13.68,
          13.436364,
          12.99168,
          12.826309
        ]
      }
    ],
    "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."
    }
  }
}