{ "ticker": { "uuid": "3199d7ce-1b19-40e8-8f23-de267bb99c3c", "symbol": "TRN", "name": "Terna S.p.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": 3, "stage_name": "Distribution", "phase": "3a", "phase_label": "Stage 3A \u00b7 Churning", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 96.0, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Re-accelerating", "architecture_gate": "up", "architecture_direction": 42.791, "architecture_energy": 28.22, "architecture_maturity": 47.954, "architecture_confidence": 45.84, "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": 33.18, "rotation_up": 43.4, "upward_expansion": 66.62, "deceleration": 62.32, "rotation_down": 25.74, "downward_expansion": 16.62 }, "activity_lines": [ 10.144333, 10.171183, 10.054122, 9.995099 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.5 }, "latest_close": 10.09, "trend_reference": 9.870824, "distance_from_trend": 0.022204, "trend_direction": "Improving", "fair_value": 8.023307, "distance_from_fair_value": 0.257586, "fair_value_direction": "Weakening", "relative_strength": -12.249486, "relative_strength_direction": "Weakening", "price_momentum": 0.064795, "excess_performance": -0.109451, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.022204, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.040617, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.257586, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.001467, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.122495, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.042129, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.064795, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": null, "read": "Supply-led" } ], "volume": { "latest": 0, "relative_activity": 0.0, "balance": null, "dry_up": 0.0, "accumulation_observations": 0, "distribution_observations": 0 }, "risk": { "range_context": 0.025111, "annualized_volatility": 0.167815, "from_high_reference": -0.04496, "from_low_reference": 0.23762 }, "levels": { "trend_reference": 9.870824, "fair_value_reference": 8.023307, "structural_low": 9.378, "invalidation": "A decisive 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"typical_volume": 55.5, "trend": 9.722691, "fair_value": 7.936576, "relative_strength": -9.885765, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.140892, "energy": 77.195338, "activity_lines": [ 10.216752, 10.054356, 9.968989, 9.894024 ] }, { "date": "2026-07-17", "close": 10.325, "volume": 0, "typical_volume": 55.5, "trend": 9.769058, "fair_value": 7.957653, "relative_strength": -6.983163, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 73.098589, "energy": 81.065705, "activity_lines": [ 10.269533, 10.125652, 10.00569, 9.932882 ] }, { "date": "2026-07-24", "close": 10.375, "volume": 0, "typical_volume": 55.5, "trend": 9.816424, "fair_value": 7.979721, "relative_strength": -7.630876, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.250144, "energy": 76.037576, "activity_lines": [ 10.315667, 10.195965, 10.046415, 9.971975 ] }, { "date": "2026-07-31", "close": 9.93, "volume": 0, "typical_volume": 55.5, "trend": 9.845158, "fair_value": 8.001393, "relative_strength": -11.297066, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 52.1331, "energy": 37.523997, "activity_lines": [ 10.192333, 10.170563, 10.042412, 9.979303 ] }, { "date": "2026-08-07", "close": 10.09, "volume": 0, "typical_volume": 55.5, "trend": 9.870824, "fair_value": 8.023307, "relative_strength": -12.249486, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 42.79114, "energy": 28.219843, "activity_lines": [ 10.144333, 10.171183, 10.054122, 9.995099 ] } ], "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." } } }