{
  "ticker": {
    "uuid": "26854289-8e19-4d35-bb99-5b3d88fb2a69",
    "symbol": "FNAC",
    "name": "Fnac Darty SA",
    "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": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 54.064,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 42.351,
    "architecture_energy": 32.64,
    "architecture_maturity": 41.294,
    "architecture_confidence": 50.902,
    "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": 42.79,
        "rotation_up": 40.59,
        "upward_expansion": 65.81,
        "deceleration": 67.73,
        "rotation_down": 24.97,
        "downward_expansion": 9.14
      },
      "activity_lines": [
        34.566665,
        34.561817,
        34.489769,
        34.535304
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.333333
    },
    "latest_close": 34.549999,
    "trend_reference": 34.349716,
    "distance_from_trend": 0.005831,
    "trend_direction": "Improving",
    "fair_value": 28.99721,
    "distance_from_fair_value": 0.191494,
    "fair_value_direction": "Improving",
    "relative_strength": 0.990092,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.025388,
    "excess_performance": -0.078699,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.005831,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.061934,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.191494,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.002402,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.009901,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.071921,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.025388,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.74916,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 60141,
      "relative_activity": 1.015551,
      "balance": 0.74916,
      "dry_up": 0.621133,
      "accumulation_observations": 0,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.003868,
      "annualized_volatility": 0.047432,
      "from_high_reference": -0.038943,
      "from_low_reference": 0.31619
    },
    "levels": {
      "trend_reference": 34.349716,
      "fair_value_reference": 28.99721,
      "structural_low": 34.007093,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 8,
        "median_return": 0.002942,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.006645,
        "regime_survival": 0.25,
        "best_return": 0.128788,
        "worst_return": -0.145631,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": -0.039416,
        "positive_rate": 0.4,
        "directional_follow_through": 0.4,
        "median_excess_return": -0.074191,
        "regime_survival": 0.0,
        "best_return": 0.090253,
        "worst_return": -0.176018,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": -0.097087,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.116774,
        "regime_survival": 0.0,
        "best_return": -0.042763,
        "worst_return": -0.290558,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": -0.039705,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.13489,
        "regime_survival": 0.0,
        "best_return": 0.15743,
        "worst_return": -0.23684,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-06-20",
        "end": "2025-06-27",
        "tenure": "New",
        "return": 0.066667,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-07-04",
        "end": "2025-08-22",
        "tenure": "Developing",
        "return": -0.116547,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-08-29",
        "end": "2025-09-05",
        "tenure": "New",
        "return": -0.032258,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-09-12",
        "end": "2025-10-03",
        "tenure": "New",
        "return": 0.042478,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-10-10",
        "end": "2025-10-31",
        "tenure": "New",
        "return": 0.025271,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-11-07",
        "end": "2025-12-19",
        "tenure": "Developing",
        "return": 0.023256,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-12-26",
        "end": "2026-01-23",
        "tenure": "Developing",
        "return": 0.048527,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-01-30",
        "end": "2026-02-06",
        "tenure": "New",
        "return": -0.001408,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-02-13",
        "end": "2026-04-03",
        "tenure": "Developing",
        "return": -0.032486,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-04-10",
        "end": "2026-05-01",
        "tenure": "New",
        "return": -0.002825,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2026-05-15",
        "tenure": "New",
        "return": 0.002841,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2026-06-19",
        "tenure": "Developing",
        "return": 0.00733,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2026-07-17",
        "tenure": "New",
        "return": -0.00289,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-07-24",
        "end": "2026-08-07",
        "tenure": "New",
        "return": -0.001445,
        "active": true
      }
    ],
    "chart_path": [
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      {
        "date": "2026-05-01",
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        "date": "2026-05-15",
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      },
      {
        "date": "2026-06-05",
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      },
      {
        "date": "2026-06-26",
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      },
      {
        "date": "2026-07-03",
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        "relative_strength": 3.557032,
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 129657.55,
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        "relative_strength": 5.803575,
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        "energy": 52.717311,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
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        "volume": 38571,
        "typical_volume": 122369.9,
        "trend": 33.836383,
        "fair_value": 28.920917,
        "relative_strength": 5.734494,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 56.966021,
        "energy": 44.537464,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-07-24",
        "close": 34.599998,
        "volume": 21454,
        "typical_volume": 97490.7,
        "trend": 34.028049,
        "fair_value": 28.945636,
        "relative_strength": 5.443214,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
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        "activity_lines": [
          34.556666,
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      },
      {
        "date": "2026-07-31",
        "close": 34.599998,
        "volume": 26968,
        "typical_volume": 73730.9,
        "trend": 34.204716,
        "fair_value": 28.972811,
        "relative_strength": 3.648017,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 49.261705,
        "energy": 35.546317,
        "activity_lines": [
          34.569999,
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          34.513028
        ]
      },
      {
        "date": "2026-08-07",
        "close": 34.549999,
        "volume": 60141,
        "typical_volume": 59220.05,
        "trend": 34.349716,
        "fair_value": 28.99721,
        "relative_strength": 0.990092,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 42.351248,
        "energy": 32.640192,
        "activity_lines": [
          34.566665,
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      }
    ],
    "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."
    }
  }
}