{
  "ticker": {
    "uuid": "1dcc660d-6202-4a6b-b508-a08fcfdaf708",
    "symbol": "OVH",
    "name": "OVH Groupe S.A.",
    "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": 2,
    "stage_name": "Advancing",
    "phase": "2c",
    "phase_label": "Stage 2C \u00b7 Late advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 64.865,
    "architecture_energy": 38.812,
    "architecture_maturity": 57.565,
    "architecture_confidence": 75.212,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 29.47,
        "rotation_up": 45.72,
        "upward_expansion": 78.31,
        "deceleration": 67.74,
        "rotation_down": 26.76,
        "downward_expansion": 4.98
      },
      "activity_lines": [
        15.018667,
        14.965636,
        14.184524,
        13.079516
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 15.91,
    "trend_reference": 11.707333,
    "distance_from_trend": 0.358977,
    "trend_direction": "Improving",
    "fair_value": 9.267051,
    "distance_from_fair_value": 0.716835,
    "fair_value_direction": "Improving",
    "relative_strength": 39.620689,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.748352,
    "excess_performance": 0.69504,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.358977,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.279746,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.716835,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.369154,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.396207,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.230577,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.748352,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.333033,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 560291,
      "relative_activity": 1.050908,
      "balance": 1.333033,
      "dry_up": 0.987938,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.13354,
      "annualized_volatility": 0.605316,
      "from_high_reference": -0.098584,
      "from_low_reference": 1.385307
    },
    "levels": {
      "trend_reference": 11.707333,
      "fair_value_reference": 9.267051,
      "structural_low": 8.205,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 6,
        "median_return": -0.017328,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.009848,
        "regime_survival": 0.666667,
        "best_return": 0.377193,
        "worst_return": -0.035514,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 2,
        "median_return": 0.294281,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.296742,
        "regime_survival": 0.0,
        "best_return": 0.438095,
        "worst_return": 0.150467,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": 0.031041,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.004167,
        "regime_survival": 0.5,
        "best_return": 0.315476,
        "worst_return": -0.253394,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": -0.017857,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.08909,
        "regime_survival": 0.0,
        "best_return": -0.017857,
        "worst_return": -0.017857,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-05-31",
        "end": "2024-08-30",
        "tenure": "Established",
        "return": 0.35963,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-09-06",
        "end": "2024-10-18",
        "tenure": "Developing",
        "return": 0.247602,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-10-25",
        "end": "2024-11-01",
        "tenure": "New",
        "return": 0.001717,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-11-08",
        "end": "2025-01-10",
        "tenure": "Developing",
        "return": -0.095906,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-01-17",
        "end": "2025-04-11",
        "tenure": "Established",
        "return": 0.308333,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-06-27",
        "tenure": "Developing",
        "return": -0.07947,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-07-04",
        "end": "2025-08-15",
        "tenure": "Developing",
        "return": -0.054206,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-08-22",
        "end": "2025-09-12",
        "tenure": "New",
        "return": 0.178643,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-09-26",
        "tenure": "New",
        "return": -0.080123,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-10-17",
        "tenure": "New",
        "return": -0.109667,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-10-24",
        "end": "2026-01-30",
        "tenure": "Established",
        "return": 0.209345,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-02-06",
        "end": "2026-04-24",
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        "return": 0.164835,
        "active": false
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      {
        "regime": "upward_expansion",
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        "return": 0.293948,
        "active": false
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      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "start": "2026-07-24",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.060667,
        "active": true
      }
    ],
    "chart_path": [
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 699097.55,
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      },
      {
        "date": "2026-05-08",
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      },
      {
        "date": "2026-05-15",
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      },
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        "date": "2026-05-22",
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      },
      {
        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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      },
      {
        "date": "2026-06-12",
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      },
      {
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      },
      {
        "date": "2026-06-26",
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        "fair_value": 9.073974,
        "relative_strength": 28.304649,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 67.511676,
        "energy": 66.912625,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "typical_volume": 520981.2,
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        "fair_value": 9.113045,
        "relative_strength": 42.543405,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
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      },
      {
        "date": "2026-07-10",
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        "volume": 752680,
        "typical_volume": 533680.35,
        "trend": 10.711167,
        "fair_value": 9.143782,
        "relative_strength": 35.583136,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 61.265044,
        "energy": 49.769193,
        "activity_lines": [
          14.922667,
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          13.209357,
          12.116237
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      },
      {
        "date": "2026-07-17",
        "close": 13.47,
        "volume": 499022,
        "typical_volume": 530543.2,
        "trend": 10.936,
        "fair_value": 9.169872,
        "relative_strength": 25.832209,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 44.558975,
        "energy": 31.04301,
        "activity_lines": [
          14.355333,
          14.662,
          13.362214,
          12.294226
        ]
      },
      {
        "date": "2026-07-24",
        "close": 15.0,
        "volume": 526872,
        "typical_volume": 536560.7,
        "trend": 11.193,
        "fair_value": 9.200385,
        "relative_strength": 38.745891,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 47.540305,
        "energy": 33.130243,
        "activity_lines": [
          14.45,
          14.772364,
          13.640786,
          12.556419
        ]
      },
      {
        "date": "2026-07-31",
        "close": 14.83,
        "volume": 520689,
        "typical_volume": 531863.9,
        "trend": 11.439,
        "fair_value": 9.229936,
        "relative_strength": 34.209423,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 43.213124,
        "energy": 28.214956,
        "activity_lines": [
          14.595333,
          14.798909,
          13.874643,
          12.791065
        ]
      },
      {
        "date": "2026-08-07",
        "close": 15.91,
        "volume": 560291,
        "typical_volume": 533149.3,
        "trend": 11.707333,
        "fair_value": 9.267051,
        "relative_strength": 39.620689,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 64.864757,
        "energy": 38.811721,
        "activity_lines": [
          15.018667,
          14.965636,
          14.184524,
          13.079516
        ]
      }
    ],
    "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."
    }
  }
}