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    "name": "Zenas BioPharma, Inc. Common Stock",
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      },
      {
        "date": "2026-07-03",
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      },
      {
        "date": "2026-07-10",
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        "stage": 1,
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 3640304.85,
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        "relative_strength": 10.219657,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
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        "energy": 74.021268,
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          27.721333,
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          22.405571,
          22.290602
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      },
      {
        "date": "2026-07-24",
        "close": 30.39,
        "volume": 4649375,
        "typical_volume": 3791003.2,
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        "fair_value": 18.356684,
        "relative_strength": 14.318963,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 75.607797,
        "energy": 85.611556,
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          29.108,
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      },
      {
        "date": "2026-07-31",
        "close": 31.44,
        "volume": 3743657,
        "typical_volume": 3884619.75,
        "trend": 22.394333,
        "fair_value": 18.488838,
        "relative_strength": 16.596636,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 77.031367,
        "energy": 86.397301,
        "activity_lines": [
          30.137333,
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          24.12819,
          23.35086
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      },
      {
        "date": "2026-08-07",
        "close": 32.43,
        "volume": 2159514,
        "typical_volume": 3787506.45,
        "trend": 22.939333,
        "fair_value": 18.62825,
        "relative_strength": 13.366265,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 77.17332,
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        "activity_lines": [
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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."
    }
  }
}