{
  "ticker": {
    "uuid": "2e0be502-8a9a-4fe0-bae6-728b1b298ca7",
    "symbol": "DAB",
    "name": "Danske Andelskassers Bank A/S",
    "exchange": "CPH",
    "country": "DK",
    "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": "2026-10-02",
    "benchmark": "^OMXC25",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 96.0,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -85.182,
    "architecture_energy": 92.054,
    "architecture_maturity": 48.283,
    "architecture_confidence": 81.906,
    "architecture_tenure": "Established",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 0.0,
        "rotation_up": 9.1,
        "upward_expansion": 21.55,
        "deceleration": 37.19,
        "rotation_down": 85.86,
        "downward_expansion": 99.55
      },
      "activity_lines": [
        14.61,
        15.022727,
        15.533333,
        15.862097
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -1.0
    },
    "latest_close": 14.2,
    "trend_reference": 16.294383,
    "distance_from_trend": -0.128534,
    "trend_direction": "Weakening",
    "fair_value": 13.726325,
    "distance_from_fair_value": 0.034509,
    "fair_value_direction": "Weakening",
    "relative_strength": -16.480866,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.167966,
    "excess_performance": -0.231804,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.128534,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.067917,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.034509,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.210213,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.164809,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.08424,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.167966,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.168063,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 58309,
      "relative_activity": 1.655198,
      "balance": 0.168063,
      "dry_up": 2.509964,
      "accumulation_observations": 0,
      "distribution_observations": 4
    },
    "risk": {
      "range_context": 0.039003,
      "annualized_volatility": 0.212912,
      "from_high_reference": -0.303972,
      "from_low_reference": 0.036496
    },
    "levels": {
      "trend_reference": 16.294383,
      "fair_value_reference": 13.726325,
      "structural_low": 13.7,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 8,
        "median_return": 0.005,
        "positive_rate": 0.5,
        "directional_follow_through": 0.375,
        "median_excess_return": -0.033281,
        "regime_survival": 0.875,
        "best_return": 0.061571,
        "worst_return": -0.062893,
        "sufficient": true
      },
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        "horizon": "Intermediate",
        "sample_count": 2,
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        "positive_rate": 0.5,
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        "regime_survival": 0.5,
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        "worst_return": -0.04,
        "sufficient": false
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        "horizon": "Extended",
        "sample_count": 1,
        "median_return": 0.090588,
        "positive_rate": 1.0,
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        "worst_return": 0.090588,
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        "horizon": "Full cycle",
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        "worst_return": 0.121696,
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        "regime": "upward_expansion",
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      {
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      {
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        "active": false
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      {
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        "regime": "balance",
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        "active": false
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        "relative_strength": -13.065237,
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      },
      {
        "date": "2026-09-11",
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        "volume": 63591,
        "typical_volume": 31699.1,
        "trend": 16.678649,
        "fair_value": 13.629997,
        "relative_strength": -12.195137,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -71.287168,
        "energy": 52.301287,
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          15.59,
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          16.022619,
          16.269635
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      },
      {
        "date": "2026-09-18",
        "close": 14.9,
        "volume": 50486,
        "typical_volume": 31364.4,
        "trend": 16.560656,
        "fair_value": 13.66509,
        "relative_strength": -15.129779,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -83.030002,
        "energy": 67.577413,
        "activity_lines": [
          15.343333,
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          16.154883
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      },
      {
        "date": "2026-09-25",
        "close": 14.25,
        "volume": 181296,
        "typical_volume": 36177.15,
        "trend": 16.427535,
        "fair_value": 13.695719,
        "relative_strength": -17.144396,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -89.646439,
        "energy": 85.990031,
        "activity_lines": [
          14.93,
          15.25,
          15.711905,
          16.005809
        ]
      },
      {
        "date": "2026-10-02",
        "close": 14.2,
        "volume": 58309,
        "typical_volume": 35227.8,
        "trend": 16.294383,
        "fair_value": 13.726325,
        "relative_strength": -16.480866,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -85.1819,
        "energy": 92.053629,
        "activity_lines": [
          14.61,
          15.022727,
          15.533333,
          15.862097
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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."
    }
  }
}