{
  "ticker": {
    "uuid": "48b76537-132c-43c1-b38f-a6b5a4847051",
    "symbol": "FGA",
    "name": "Figeac Aero Soci\u00e9t\u00e9 Anonyme",
    "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": 3,
    "stage_name": "Distribution",
    "phase": "3b",
    "phase_label": "Stage 3B \u00b7 Distribution",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 53.624,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 46.139,
    "architecture_energy": 23.912,
    "architecture_maturity": 44.785,
    "architecture_confidence": 81.049,
    "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": 39.36,
        "rotation_up": 29.87,
        "upward_expansion": 57.26,
        "deceleration": 86.48,
        "rotation_down": 27.95,
        "downward_expansion": 18.6
      },
      "activity_lines": [
        11.258667,
        11.373455,
        11.166714,
        10.887312
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.333333
    },
    "latest_close": 11.7,
    "trend_reference": 10.665667,
    "distance_from_trend": 0.096978,
    "trend_direction": "Improving",
    "fair_value": 7.917436,
    "distance_from_fair_value": 0.477751,
    "fair_value_direction": "Weakening",
    "relative_strength": 0.53903,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.193878,
    "excess_performance": 0.140566,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.096978,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.003764,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.477751,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.003522,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.00539,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.012377,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.193878,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.581047,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 76423,
      "relative_activity": 0.820978,
      "balance": 0.581047,
      "dry_up": 0.920698,
      "accumulation_observations": 1,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.062985,
      "annualized_volatility": 0.432345,
      "from_high_reference": -0.103448,
      "from_low_reference": 0.297118
    },
    "levels": {
      "trend_reference": 10.665667,
      "fair_value_reference": 7.917436,
      "structural_low": 9.02,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 17,
        "median_return": 0.027027,
        "positive_rate": 0.647059,
        "directional_follow_through": 0.647059,
        "median_excess_return": 0.017281,
        "regime_survival": 0.529412,
        "best_return": 0.36413,
        "worst_return": -0.144105,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
        "median_return": 0.089904,
        "positive_rate": 0.875,
        "directional_follow_through": 0.875,
        "median_excess_return": 0.059369,
        "regime_survival": 0.0,
        "best_return": 0.319277,
        "worst_return": -0.165066,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": -0.034234,
        "positive_rate": 0.4,
        "directional_follow_through": 0.4,
        "median_excess_return": 0.009185,
        "regime_survival": 0.2,
        "best_return": 0.427711,
        "worst_return": -0.062009,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.260241,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.103874,
        "regime_survival": 0.0,
        "best_return": 0.764286,
        "worst_return": -0.09009,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-06-28",
        "end": "2024-07-26",
        "tenure": "Developing",
        "return": 0.105839,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-08-02",
        "end": "2025-01-03",
        "tenure": "Established",
        "return": 0.016949,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-01-10",
        "end": "2025-04-11",
        "tenure": "Established",
        "return": 0.278689,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-04-18",
        "end": "2025-05-16",
        "tenure": "Developing",
        "return": 0.06988,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-23",
        "end": "2025-08-01",
        "tenure": "Developing",
        "return": 0.098901,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-08-08",
        "end": "2025-09-26",
        "tenure": "Developing",
        "return": 0.138614,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-10-03",
        "end": "2025-11-07",
        "tenure": "Developing",
        "return": -0.091633,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-11-14",
        "end": "2026-02-06",
        "tenure": "Established",
        "return": -0.144105,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-02-13",
        "end": "2026-03-06",
        "tenure": "New",
        "return": 0.056485,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-03-13",
        "end": "2026-05-08",
        "tenure": "Developing",
        "return": 0.183585,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-05-15",
        "end": "2026-05-29",
        "tenure": "New",
        "return": 0.081937,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-06-05",
        "end": "2026-07-03",
        "tenure": "Developing",
        "return": 0.117431,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-07-10",
        "end": "2026-07-24",
        "tenure": "New",
        "return": -0.044092,
        "active": false
      },
      {
        "regime": "deceleration",
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        "color": "amber",
        "start": "2026-07-31",
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        "tenure": "New",
        "return": 0.059783,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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        "typical_volume": 14910.6,
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          9.834545,
          10.054714,
          10.33471
        ]
      },
      {
        "date": "2026-05-08",
        "close": 10.96,
        "volume": 181000,
        "typical_volume": 127737.35,
        "trend": 10.701667,
        "fair_value": 7.399038,
        "relative_strength": 1.776735,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -7.635461,
        "energy": 12.964592,
        "activity_lines": [
          10.332667,
          10.039455,
          10.114762,
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        ]
      },
      {
        "date": "2026-05-15",
        "close": 10.74,
        "volume": 86928,
        "typical_volume": 130528.75,
        "trend": 10.664667,
        "fair_value": 7.436218,
        "relative_strength": 1.410675,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -2.810175,
        "energy": 11.917426,
        "activity_lines": [
          10.519333,
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          10.351183
        ]
      },
      {
        "date": "2026-05-22",
        "close": 10.66,
        "volume": 97899,
        "typical_volume": 133105.35,
        "trend": 10.643333,
        "fair_value": 7.472821,
        "relative_strength": -1.563444,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -1.675949,
        "energy": 15.488626,
        "activity_lines": [
          10.6,
          10.328182,
          10.185048,
          10.350882
        ]
      },
      {
        "date": "2026-05-29",
        "close": 11.62,
        "volume": 155647,
        "typical_volume": 133087.6,
        "trend": 10.625667,
        "fair_value": 7.515641,
        "relative_strength": 6.16105,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 36.590531,
        "energy": 45.399276,
        "activity_lines": [
          10.987333,
          10.608545,
          10.30981,
          10.413892
        ]
      },
      {
        "date": "2026-06-05",
        "close": 10.9,
        "volume": 16207,
        "typical_volume": 129510.2,
        "trend": 10.609,
        "fair_value": 7.552564,
        "relative_strength": -0.958722,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 20.297674,
        "energy": 42.152,
        "activity_lines": [
          11.026667,
          10.720909,
          10.36519,
          10.431591
        ]
      },
      {
        "date": "2026-06-12",
        "close": 10.68,
        "volume": 26337,
        "typical_volume": 127638.8,
        "trend": 10.583333,
        "fair_value": 7.588333,
        "relative_strength": -4.478971,
        "stage": 4,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 18.844724,
        "energy": 33.224088,
        "activity_lines": [
          10.928,
          10.762,
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          10.436172
        ]
      },
      {
        "date": "2026-06-19",
        "close": 11.96,
        "volume": 28374,
        "typical_volume": 125748.3,
        "trend": 10.595333,
        "fair_value": 7.633013,
        "relative_strength": 6.080841,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 47.937994,
        "energy": 51.396503,
        "activity_lines": [
          11.274667,
          11.018364,
          10.565571,
          10.524989
        ]
      },
      {
        "date": "2026-06-26",
        "close": 11.78,
        "volume": 82283,
        "typical_volume": 121207.75,
        "trend": 10.608,
        "fair_value": 7.676667,
        "relative_strength": 5.111762,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 39.807554,
        "energy": 45.997076,
        "activity_lines": [
          11.48,
          11.198182,
          10.705524,
          10.601419
        ]
      },
      {
        "date": "2026-07-03",
        "close": 12.18,
        "volume": 39371,
        "typical_volume": 111763.55,
        "trend": 10.622333,
        "fair_value": 7.721154,
        "relative_strength": 7.003591,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 73.001106,
        "energy": 68.576121,
        "activity_lines": [
          11.744,
          11.426727,
          10.874143,
          10.702839
        ]
      },
      {
        "date": "2026-07-10",
        "close": 11.34,
        "volume": 146134,
        "typical_volume": 102890.55,
        "trend": 10.647,
        "fair_value": 7.760769,
        "relative_strength": 1.663488,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 59.589773,
        "energy": 63.707667,
        "activity_lines": [
          11.690667,
          11.462909,
          10.950286,
          10.74914
        ]
      },
      {
        "date": "2026-07-17",
        "close": 11.18,
        "volume": 83844,
        "typical_volume": 101771.35,
        "trend": 10.658,
        "fair_value": 7.8,
        "relative_strength": 0.316184,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 56.472905,
        "energy": 45.74919,
        "activity_lines": [
          11.554667,
          11.444364,
          11.009571,
          10.783527
        ]
      },
      {
        "date": "2026-07-24",
        "close": 10.84,
        "volume": 106777,
        "typical_volume": 99543.9,
        "trend": 10.656,
        "fair_value": 7.836795,
        "relative_strength": -3.024364,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 41.599944,
        "energy": 25.848918,
        "activity_lines": [
          11.272,
          11.36,
          11.033476,
          10.795269
        ]
      },
      {
        "date": "2026-07-31",
        "close": 11.04,
        "volume": 75779,
        "typical_volume": 95978.35,
        "trend": 10.657333,
        "fair_value": 7.874615,
        "relative_strength": -2.790411,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 33.783757,
        "energy": 21.568759,
        "activity_lines": [
          11.130667,
          11.310182,
          11.072905,
          10.820043
        ]
      },
      {
        "date": "2026-08-07",
        "close": 11.7,
        "volume": 76423,
        "typical_volume": 93087.75,
        "trend": 10.665667,
        "fair_value": 7.917436,
        "relative_strength": 0.53903,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 46.139477,
        "energy": 23.911981,
        "activity_lines": [
          11.258667,
          11.373455,
          11.166714,
          10.887312
        ]
      }
    ],
    "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."
    }
  }
}