{ "ticker": { "uuid": "1c277efc-d3d5-4578-b2d0-3989568bb0ba", "symbol": "DCBO", "name": "Docebo Inc", "exchange": "NASDAQ", "country": "US", "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": "QQQ", "stage": 1, "stage_name": "Basing", "phase": "1b", "phase_label": "Stage 1B \u00b7 Basing", "transition": "stage_1_building", "transition_label": "Base still building", "confidence": 96.0, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Balance after decline", "architecture_gate": "up", "architecture_direction": 76.11, "architecture_energy": 70.201, "architecture_maturity": 44.173, "architecture_confidence": 60.46, "architecture_tenure": "Established", "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": 33.73, "rotation_up": 78.2, "upward_expansion": 92.34, "deceleration": 39.24, "rotation_down": 9.27, "downward_expansion": 14.34 }, "activity_lines": [ 20.788667, 19.742364, 18.984619, 18.707484 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 1.0 }, "latest_close": 22.295, "trend_reference": 18.545667, "distance_from_trend": 0.202168, "trend_direction": "Weakening", "fair_value": 34.174808, "distance_from_fair_value": -0.347619, "fair_value_direction": "Improving", "relative_strength": -10.667507, "relative_strength_direction": "Improving", "price_momentum": 0.168501, "excess_performance": -0.018953, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.202168, "read": "Above" }, { "label": "Trend direction", "positive": false, "value": -0.05117, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.347619, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.058027, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.106675, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.166333, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.168501, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.011329, "read": "Demand-led" } ], "volume": { "latest": 348120, "relative_activity": 0.553785, "balance": 1.011329, "dry_up": 0.824913, "accumulation_observations": 0, "distribution_observations": 3 }, "risk": { "range_context": 0.104309, "annualized_volatility": 0.610216, "from_high_reference": -0.321309, "from_low_reference": 0.54934 }, "levels": { "trend_reference": 18.545667, "fair_value_reference": 34.174808, "structural_low": 14.39, "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 10, "median_return": 0.049764, "positive_rate": 0.7, "directional_follow_through": 0.7, "median_excess_return": 0.028947, "regime_survival": 0.5, "best_return": 0.184518, "worst_return": -0.188208, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 5, "median_return": 0.205205, "positive_rate": 0.8, "directional_follow_through": 0.8, "median_excess_return": 0.076869, "regime_survival": 0.4, "best_return": 0.263843, "worst_return": -0.164055, "sufficient": true }, { "horizon": "Extended", "sample_count": 3, "median_return": 0.110743, "positive_rate": 0.666667, "directional_follow_through": 0.666667, "median_excess_return": -0.075439, "regime_survival": 0.333333, "best_return": 0.511045, "worst_return": -0.344448, "sufficient": false 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false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-01-24", "end": "2025-02-28", "tenure": "Developing", "return": -0.257348, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-03-07", "end": "2025-07-25", "tenure": "Established", "return": 0.012564, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-08-01", "end": "2025-08-15", "tenure": "New", "return": 0.051684, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-08-22", "end": "2025-09-26", "tenure": "Developing", "return": -0.104629, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-10-03", "end": "2025-10-10", "tenure": "New", "return": -0.028061, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-10-17", "end": "2025-10-31", 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17.884727, 17.94219, 18.182473 ] }, { "date": "2026-07-10", "close": 18.805, "volume": 345801, "typical_volume": 758050.75, "trend": 18.734, "fair_value": 34.606763, "relative_strength": -28.826356, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -22.242662, "energy": 8.878305, "activity_lines": [ 18.141667, 17.975091, 18.024238, 18.180161 ] }, { "date": "2026-07-17", "close": 20.38, "volume": 487238, "typical_volume": 725690.7, "trend": 18.685, "fair_value": 34.490224, "relative_strength": -18.460105, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 21.154925, "energy": 16.480683, "activity_lines": [ 18.942, 18.385727, 18.248405, 18.286355 ] }, { "date": "2026-07-24", "close": 19.37, "volume": 663866, "typical_volume": 687240.4, "trend": 18.590667, "fair_value": 34.370096, "relative_strength": -20.072668, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 22.111143, "energy": 26.16975, "activity_lines": [ 19.252333, 18.627636, 18.362095, 18.330548 ] }, { "date": "2026-07-31", "close": 20.67, "volume": 575001, "typical_volume": 642536.85, "trend": 18.531833, "fair_value": 34.263429, "relative_strength": -14.040378, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 35.838614, "energy": 45.541863, "activity_lines": [ 19.854667, 19.067, 18.599929, 18.464699 ] }, { "date": "2026-08-07", "close": 22.295, "volume": 348120, "typical_volume": 628618.95, "trend": 18.545667, "fair_value": 34.174808, "relative_strength": -10.667507, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 76.110133, "energy": 70.200543, "activity_lines": [ 20.788667, 19.742364, 18.984619, 18.707484 ] } ], "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." } } }