{ "ticker": { "uuid": "2290c44a-5f9f-47fb-8f2c-ea6b671eb831", "symbol": "BCP", "name": "Banco Comercial Portugu\u00eas, S.A.", "exchange": "LIS", "country": "PT", "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": "2026-09-18", "benchmark": "PSI20.LS", "stage": 2, "stage_name": "Advancing", "phase": "2b", "phase_label": "Stage 2B \u00b7 Advancing", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 96.0, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Established expansion", "architecture_gate": "up", "architecture_direction": 79.285, "architecture_energy": 85.12, "architecture_maturity": 55.286, "architecture_confidence": 85.422, "architecture_tenure": "Established", "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": 0.0, "rotation_up": 79.93, "upward_expansion": 96.53, "deceleration": 41.84, "rotation_down": 14.55, "downward_expansion": 18.53 }, "activity_lines": [ 1.161533, 1.132927, 1.086349, 1.036494 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 1.0 }, "latest_close": 1.176, "trend_reference": 0.967045, "distance_from_trend": 0.216076, "trend_direction": "Improving", "fair_value": 0.571384, "distance_from_fair_value": 1.05816, "fair_value_direction": "Weakening", "relative_strength": 21.597116, "relative_strength_direction": "Improving", "price_momentum": 0.561784, "excess_performance": 0.472025, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.216076, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.092176, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 1.05816, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.018281, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.215971, "read": "Leading" }, { "label": "Relative strength direction", "positive": true, "value": 0.007862, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.561784, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 2.045893, "read": "Demand-led" } ], "volume": { "latest": 270228848, "relative_activity": 1.979304, "balance": 2.045893, "dry_up": 1.6808, "accumulation_observations": 4, "distribution_observations": 1 }, "risk": { "range_context": 0.030678, "annualized_volatility": 0.210241, "from_high_reference": -0.024066, "from_low_reference": 0.693704 }, "levels": { "trend_reference": 0.967045, "fair_value_reference": 0.571384, "structural_low": 0.729255, "invalidation": "A 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"date": "2026-09-18", "close": 1.176, "volume": 270228848, "typical_volume": 136527203.85, "trend": 0.967045, "fair_value": 0.571384, "relative_strength": 21.597116, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 79.285348, "energy": 85.119936, "activity_lines": [ 1.161533, 1.132927, 1.086349, 1.036494 ] } ], "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." } } }