{
  "ticker": {
    "uuid": "24b8e42e-c1ba-4f18-9d0e-fafc443f0805",
    "symbol": "COM",
    "name": "Comer Industries S.p.A.",
    "exchange": "MIL",
    "country": "IT",
    "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": "FTSEMIB.MI",
    "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": 77.889,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "up",
    "architecture_direction": 27.759,
    "architecture_energy": 17.694,
    "architecture_maturity": 17.184,
    "architecture_confidence": 44.155,
    "architecture_tenure": "Developing",
    "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": 44.01,
        "rotation_up": 41.92,
        "upward_expansion": 59.44,
        "deceleration": 62.28,
        "rotation_down": 25.42,
        "downward_expansion": 21.11
      },
      "activity_lines": [
        48.533332,
        47.98909,
        48.403692,
        47.674841
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.333333
    },
    "latest_close": 47.599998,
    "trend_reference": 47.284916,
    "distance_from_trend": 0.006663,
    "trend_direction": "Improving",
    "fair_value": 33.849181,
    "distance_from_fair_value": 0.406238,
    "fair_value_direction": "Weakening",
    "relative_strength": -5.839596,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.0109,
    "excess_performance": -0.181791,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.006663,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.047871,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.406238,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.280036,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.058396,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.287141,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.0109,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.637949,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 128815,
      "relative_activity": 2.636756,
      "balance": 0.637949,
      "dry_up": 1.600957,
      "accumulation_observations": 2,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.077103,
      "annualized_volatility": 0.444562,
      "from_high_reference": -0.154423,
      "from_low_reference": 0.430977
    },
    "levels": {
      "trend_reference": 47.284916,
      "fair_value_reference": 33.849181,
      "structural_low": 37.692628,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 10,
        "median_return": 0.048906,
        "positive_rate": 0.7,
        "directional_follow_through": 0.7,
        "median_excess_return": 0.002401,
        "regime_survival": 0.4,
        "best_return": 0.178439,
        "worst_return": -0.163333,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": 0.140408,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.026346,
        "regime_survival": 0.166667,
        "best_return": 0.346032,
        "worst_return": -0.157051,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.166549,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.06476,
        "regime_survival": 0.25,
        "best_return": 0.335689,
        "worst_return": -0.073248,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.237852,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.06853,
        "regime_survival": 0.333333,
        "best_return": 0.24832,
        "worst_return": 0.161049,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-10-11",
        "end": "2024-11-08",
        "tenure": "Developing",
        "return": -0.032544,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-11-15",
        "end": "2024-11-22",
        "tenure": "New",
        "return": -0.06051,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-11-29",
        "end": "2024-12-06",
        "tenure": "New",
        "return": 0.0301,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-12-13",
        "end": "2025-05-02",
        "tenure": "Established",
        "return": -0.066246,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-09",
        "end": "2025-05-30",
        "tenure": "New",
        "return": 0.071113,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-06-06",
        "end": "2025-06-20",
        "tenure": "New",
        "return": -0.006211,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-06-27",
        "end": "2025-10-03",
        "tenure": "Established",
        "return": 0.202658,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-10-10",
        "end": "2025-10-17",
        "tenure": "New",
        "return": 0.039326,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-10-24",
        "end": "2026-02-27",
        "tenure": "Established",
        "return": 0.316216,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-03-06",
        "end": "2026-03-27",
        "tenure": "New",
        "return": -0.102222,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-04-03",
        "end": "2026-04-17",
        "tenure": "New",
        "return": 0.090047,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-04-24",
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        "return": 0.218543,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2026-07-03",
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        "return": -0.109005,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "start": "2026-07-10",
        "end": "2026-08-07",
        "tenure": "Developing",
        "return": 0.053097,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2026-04-24",
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        "typical_volume": 29733.35,
        "trend": 42.603498,
        "fair_value": 31.953085,
        "relative_strength": 5.665952,
        "stage": 2,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 27.003109,
        "energy": 18.509574,
        "activity_lines": [
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 28715.95,
        "trend": 42.931545,
        "fair_value": 32.054891,
        "relative_strength": 5.979483,
        "stage": 2,
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        "energy": 26.837335,
        "activity_lines": [
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          44.401303
        ]
      },
      {
        "date": "2026-05-08",
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        "volume": 100950,
        "typical_volume": 31689.25,
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        "fair_value": 32.215781,
        "relative_strength": 22.874553,
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        "modifier": "Balance after decline",
        "gate": "up",
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        "energy": 52.418456,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 38359.45,
        "trend": 44.119076,
        "fair_value": 32.362741,
        "relative_strength": 18.745444,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 74.50065,
        "energy": 71.063614,
        "activity_lines": [
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          45.728307
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 40262.7,
        "trend": 44.598635,
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        "relative_strength": 12.74688,
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        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 60.725258,
        "energy": 68.158003,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
        "close": 52.0,
        "volume": 47812,
        "typical_volume": 40870.7,
        "trend": 45.124754,
        "fair_value": 32.649385,
        "relative_strength": 13.47108,
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        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "energy": 72.518252,
        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
        "close": 49.900002,
        "volume": 7793,
        "typical_volume": 40974.55,
        "trend": 45.584154,
        "fair_value": 32.782796,
        "relative_strength": 8.70152,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 60.303637,
        "energy": 59.363754,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 49.5,
        "volume": 36613,
        "typical_volume": 41829.7,
        "trend": 45.994135,
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        "relative_strength": 4.084982,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 55.161616,
        "energy": 37.130987,
        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
        "close": 50.0,
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        "trend": 46.450308,
        "fair_value": 33.048876,
        "relative_strength": 2.14182,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 42.868811,
        "energy": 29.018532,
        "activity_lines": [
          50.166667,
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          48.025575,
          47.456
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      },
      {
        "date": "2026-06-26",
        "close": 45.0,
        "volume": 22837,
        "typical_volume": 39737.65,
        "trend": 46.624997,
        "fair_value": 33.147337,
        "relative_strength": -5.491782,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 17.491029,
        "energy": 14.376576,
        "activity_lines": [
          48.353334,
          49.468913,
          47.851422,
          47.362432
        ]
      },
      {
        "date": "2026-07-03",
        "close": 47.0,
        "volume": 25431,
        "typical_volume": 39101.5,
        "trend": 46.813865,
        "fair_value": 33.262159,
        "relative_strength": -4.368908,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 23.017511,
        "energy": 18.615526,
        "activity_lines": [
          47.593333,
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      },
      {
        "date": "2026-07-10",
        "close": 45.200001,
        "volume": 55312,
        "typical_volume": 40611.65,
        "trend": 46.857441,
        "fair_value": 33.369572,
        "relative_strength": -7.808033,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -9.297936,
        "energy": 17.874981,
        "activity_lines": [
          46.566667,
          48.213175,
          47.737441,
          47.282505
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      },
      {
        "date": "2026-07-17",
        "close": 46.099998,
        "volume": 17452,
        "typical_volume": 39564.35,
        "trend": 46.934297,
        "fair_value": 33.482755,
        "relative_strength": -4.913841,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -15.011627,
        "energy": 22.319564,
        "activity_lines": [
          46.153333,
          47.568182,
          47.683464,
          47.233638
        ]
      },
      {
        "date": "2026-07-24",
        "close": 49.799999,
        "volume": 97280,
        "typical_volume": 42770.25,
        "trend": 47.127926,
        "fair_value": 33.609035,
        "relative_strength": 2.495028,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 21.320575,
        "energy": 14.502627,
        "activity_lines": [
          47.199999,
          47.745454,
          47.990571,
          47.418522
        ]
      },
      {
        "date": "2026-07-31",
        "close": 50.799999,
        "volume": 69303,
        "typical_volume": 44974.5,
        "trend": 47.29912,
        "fair_value": 33.736414,
        "relative_strength": 3.453344,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 39.135768,
        "energy": 17.382645,
        "activity_lines": [
          48.593332,
          48.158181,
          48.366661,
          47.65543
        ]
      },
      {
        "date": "2026-08-07",
        "close": 47.599998,
        "volume": 128815,
        "typical_volume": 48853.6,
        "trend": 47.284916,
        "fair_value": 33.849181,
        "relative_strength": -5.839596,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 27.759056,
        "energy": 17.69444,
        "activity_lines": [
          48.533332,
          47.98909,
          48.403692,
          47.674841
        ]
      }
    ],
    "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."
    }
  }
}