{
  "ticker": {
    "uuid": "206701f8-b422-4363-a08c-1721c5d472cc",
    "symbol": "IPN",
    "name": "Ipsen S.A.",
    "exchange": "VIE",
    "country": "AT",
    "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": "^ATX",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 59.381,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Re-accelerating",
    "architecture_gate": "up",
    "architecture_direction": 44.327,
    "architecture_energy": 24.04,
    "architecture_maturity": 29.313,
    "architecture_confidence": 47.953,
    "architecture_tenure": "Developing",
    "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": 54.19,
        "rotation_up": 39.35,
        "upward_expansion": 70.61,
        "deceleration": 72.29,
        "rotation_down": 23.52,
        "downward_expansion": 4.28
      },
      "activity_lines": [
        163.306667,
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        161.757604,
        160.627652
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      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.166667
    },
    "latest_close": 162.100006,
    "trend_reference": 157.258871,
    "distance_from_trend": 0.030784,
    "trend_direction": "Improving",
    "fair_value": 119.460295,
    "distance_from_fair_value": 0.356936,
    "fair_value_direction": "Weakening",
    "relative_strength": -5.699137,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.19631,
    "excess_performance": 0.022063,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.030784,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.087828,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.356936,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.079267,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.056991,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.167633,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.19631,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.852459,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 0,
      "relative_activity": 0.0,
      "balance": 1.852459,
      "dry_up": 5.0,
      "accumulation_observations": 1,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.0464,
      "annualized_volatility": 0.293482,
      "from_high_reference": -0.059745,
      "from_low_reference": 0.530689
    },
    "levels": {
      "trend_reference": 157.258871,
      "fair_value_reference": 119.460295,
      "structural_low": 136.5,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 32,
        "median_return": 0.006468,
        "positive_rate": 0.53125,
        "directional_follow_through": 0.53125,
        "median_excess_return": -0.003306,
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        "best_return": 0.162603,
        "worst_return": -0.182842,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 12,
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        "worst_return": -0.259289,
        "sufficient": true
      },
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        "horizon": "Extended",
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      {
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        "regime": "balance",
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        "regime": "downward_expansion",
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        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 66.740418,
        "energy": 58.70707,
        "activity_lines": [
          162.96288,
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          155.326247,
          148.113816
        ]
      },
      {
        "date": "2026-05-08",
        "close": 165.33757,
        "volume": 0,
        "typical_volume": 11.05,
        "trend": 140.594961,
        "fair_value": 115.121271,
        "relative_strength": 11.06418,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 66.361762,
        "energy": 54.178395,
        "activity_lines": [
          163.734655,
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      },
      {
        "date": "2026-05-15",
        "close": 165.040741,
        "volume": 0,
        "typical_volume": 11.05,
        "trend": 142.289652,
        "fair_value": 115.476604,
        "relative_strength": 10.854465,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 65.218714,
        "energy": 55.869681,
        "activity_lines": [
          164.202999,
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          158.531514,
          151.389492
        ]
      },
      {
        "date": "2026-05-22",
        "close": 158.312454,
        "volume": 0,
        "typical_volume": 11.05,
        "trend": 143.513401,
        "fair_value": 115.783855,
        "relative_strength": 3.853794,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
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        "energy": 44.70389,
        "activity_lines": [
          162.534122,
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      },
      {
        "date": "2026-05-29",
        "close": 153.464142,
        "volume": 0,
        "typical_volume": 6.8,
        "trend": 144.562205,
        "fair_value": 116.093371,
        "relative_strength": -2.181378,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 42.002712,
        "energy": 29.198986,
        "activity_lines": [
          159.361278,
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          159.123611,
          153.065204
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      },
      {
        "date": "2026-06-05",
        "close": 157.5,
        "volume": 0,
        "typical_volume": 6.8,
        "trend": 145.705539,
        "fair_value": 116.408099,
        "relative_strength": 1.267038,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 36.494591,
        "energy": 21.536174,
        "activity_lines": [
          158.114199,
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      },
      {
        "date": "2026-06-12",
        "close": 157.399994,
        "volume": 0,
        "typical_volume": 6.8,
        "trend": 146.598872,
        "fair_value": 116.721561,
        "relative_strength": -1.726937,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 30.004432,
        "energy": 23.798371,
        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
        "close": 155.899994,
        "volume": 0,
        "typical_volume": 6.8,
        "trend": 147.585538,
        "fair_value": 117.035423,
        "relative_strength": -6.704026,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 16.062673,
        "energy": 19.794604,
        "activity_lines": [
          156.456046,
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      },
      {
        "date": "2026-06-26",
        "close": 162.199997,
        "volume": 0,
        "typical_volume": 6.8,
        "trend": 148.808871,
        "fair_value": 117.419719,
        "relative_strength": -1.241595,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 32.266248,
        "energy": 17.816047,
        "activity_lines": [
          158.350939,
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          156.197322
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      },
      {
        "date": "2026-07-03",
        "close": 170.100006,
        "volume": 0,
        "typical_volume": 6.8,
        "trend": 150.365538,
        "fair_value": 117.817721,
        "relative_strength": 0.860835,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "up",
        "direction": 75.610664,
        "energy": 47.241593,
        "activity_lines": [
          162.619999,
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        ]
      },
      {
        "date": "2026-07-10",
        "close": 162.0,
        "volume": 0,
        "typical_volume": 6.8,
        "trend": 151.722205,
        "fair_value": 118.173816,
        "relative_strength": -2.822868,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 52.11627,
        "energy": 41.595775,
        "activity_lines": [
          163.08,
          161.016599,
          160.903625,
          158.321554
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      },
      {
        "date": "2026-07-17",
        "close": 160.0,
        "volume": 0,
        "typical_volume": 2.55,
        "trend": 153.065538,
        "fair_value": 118.514587,
        "relative_strength": -2.310412,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 51.324744,
        "energy": 38.531201,
        "activity_lines": [
          162.573334,
          160.884692,
          160.849977,
          158.855606
        ]
      },
      {
        "date": "2026-07-24",
        "close": 158.5,
        "volume": 61,
        "typical_volume": 3.05,
        "trend": 154.355538,
        "fair_value": 118.809432,
        "relative_strength": -4.604436,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 33.39696,
        "energy": 24.854585,
        "activity_lines": [
          161.393334,
          160.577104,
          160.670138,
          159.206216
        ]
      },
      {
        "date": "2026-07-31",
        "close": 170.399994,
        "volume": 113,
        "typical_volume": 8.7,
        "trend": 156.112205,
        "fair_value": 119.179308,
        "relative_strength": 2.274917,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 67.271843,
        "energy": 35.698772,
        "activity_lines": [
          164.006665,
          162.552074,
          161.645537,
          160.241342
        ]
      },
      {
        "date": "2026-08-07",
        "close": 162.100006,
        "volume": 0,
        "typical_volume": 8.7,
        "trend": 157.258871,
        "fair_value": 119.460295,
        "relative_strength": -5.699137,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 44.326623,
        "energy": 24.039681,
        "activity_lines": [
          163.306667,
          162.798182,
          161.757604,
          160.627652
        ]
      }
    ],
    "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."
    }
  }
}