{
  "ticker": {
    "uuid": "43963cae-eed4-4368-9b83-84503e76434d",
    "symbol": "BEVIDESB",
    "name": "Farmacias Benavides, S.A.B. de C.V.",
    "exchange": "MEX",
    "country": "MX",
    "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": "^MXX",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4a",
    "phase_label": "Stage 4A \u00b7 Breakdown",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 72.104,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -65.997,
    "architecture_energy": 68.093,
    "architecture_maturity": 25.187,
    "architecture_confidence": 66.522,
    "architecture_tenure": "Developing",
    "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": 15.59,
        "rotation_up": 9.72,
        "upward_expansion": 12.0,
        "deceleration": 56.39,
        "rotation_down": 74.11,
        "downward_expansion": 83.0
      },
      "activity_lines": [
        25.0,
        25.109091,
        25.433333,
        25.593548
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.5
    },
    "latest_close": 25.0,
    "trend_reference": 25.766667,
    "distance_from_trend": -0.029754,
    "trend_direction": "Weakening",
    "fair_value": 22.306667,
    "distance_from_fair_value": 0.120741,
    "fair_value_direction": "Weakening",
    "relative_strength": -4.691134,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.038462,
    "excess_performance": 0.016205,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.029754,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.008974,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.120741,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.110196,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.046911,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.035021,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.038462,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": null,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 0,
      "relative_activity": 0.0,
      "balance": null,
      "dry_up": 5.0,
      "accumulation_observations": 0,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.003077,
      "annualized_volatility": 0.054389,
      "from_high_reference": -0.038462,
      "from_low_reference": 0.0
    },
    "levels": {
      "trend_reference": 25.766667,
      "fair_value_reference": 22.306667,
      "structural_low": 25.0,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 19,
        "median_return": -0.002217,
        "positive_rate": 0.157895,
        "directional_follow_through": 0.526316,
        "median_excess_return": -0.014314,
        "regime_survival": 0.789474,
        "best_return": 0.691686,
        "worst_return": -0.239249,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 7,
        "median_return": -0.013304,
        "positive_rate": 0.428571,
        "directional_follow_through": 0.571429,
        "median_excess_return": 0.01402,
        "regime_survival": 0.714286,
        "best_return": 0.910112,
        "worst_return": -0.244186,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.077615,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
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        "regime_survival": 0.5,
        "best_return": 0.884701,
        "worst_return": -0.35,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
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        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
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        "regime_survival": 0.333333,
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        "worst_return": -0.355714,
        "sufficient": false
      }
    ],
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        "label": "Rotation Down",
        "color": "orange",
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        "end": "2024-05-31",
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        "active": false
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      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2024-06-21",
        "tenure": "New",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-06-28",
        "end": "2024-07-05",
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        "return": 0.0,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2024-07-19",
        "tenure": "New",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "tenure": "Established",
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        "active": false
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      {
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        "label": "Rotation Down",
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      {
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        "active": false
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      {
        "regime": "upward_expansion",
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        "return": 0.090909,
        "active": false
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        "end": "2025-05-30",
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        "active": false
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        "typical_volume": 0.0,
        "trend": 25.933333,
        "fair_value": 21.97109,
        "relative_strength": -6.323035,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -94.654979,
        "energy": 98.127424,
        "activity_lines": [
          25.4,
          25.654545,
          25.814286,
          25.873118
        ]
      },
      {
        "date": "2026-07-10",
        "close": 25.0,
        "volume": 0,
        "typical_volume": 0.0,
        "trend": 25.9,
        "fair_value": 22.048013,
        "relative_strength": -5.226671,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -95.222745,
        "energy": 98.327927,
        "activity_lines": [
          25.2,
          25.509091,
          25.728571,
          25.812903
        ]
      },
      {
        "date": "2026-07-17",
        "close": 25.0,
        "volume": 0,
        "typical_volume": 0.0,
        "trend": 25.866667,
        "fair_value": 22.114359,
        "relative_strength": -5.105356,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -85.881848,
        "energy": 95.058646,
        "activity_lines": [
          25.066667,
          25.381818,
          25.647619,
          25.754839
        ]
      },
      {
        "date": "2026-07-24",
        "close": 25.0,
        "volume": 234,
        "typical_volume": 11.7,
        "trend": 25.833333,
        "fair_value": 22.178462,
        "relative_strength": -4.470017,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -67.33332,
        "energy": 88.566636,
        "activity_lines": [
          25.0,
          25.272727,
          25.571429,
          25.698925
        ]
      },
      {
        "date": "2026-07-31",
        "close": 25.0,
        "volume": 0,
        "typical_volume": 11.7,
        "trend": 25.8,
        "fair_value": 22.242564,
        "relative_strength": -4.954832,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -67.333088,
        "energy": 88.564145,
        "activity_lines": [
          25.0,
          25.181818,
          25.5,
          25.645161
        ]
      },
      {
        "date": "2026-08-07",
        "close": 25.0,
        "volume": 0,
        "typical_volume": 11.7,
        "trend": 25.766667,
        "fair_value": 22.306667,
        "relative_strength": -4.691134,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -65.997197,
        "energy": 68.093185,
        "activity_lines": [
          25.0,
          25.109091,
          25.433333,
          25.593548
        ]
      }
    ],
    "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."
    }
  }
}