{
  "ticker": {
    "uuid": "4e7d2423-dd7c-4c52-abf9-be973e7bb77f",
    "symbol": "PFV",
    "name": "Pfeiffer Vacuum Technology AG",
    "exchange": "GER",
    "country": "DE",
    "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": "^GDAXI",
    "stage": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 90.765,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "down",
    "architecture_direction": -46.97,
    "architecture_energy": 22.582,
    "architecture_maturity": 26.678,
    "architecture_confidence": 69.661,
    "architecture_tenure": "Developing",
    "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": 41.31,
        "rotation_up": 19.98,
        "upward_expansion": 6.46,
        "deceleration": 56.16,
        "rotation_down": 41.59,
        "downward_expansion": 68.46
      },
      "activity_lines": [
        164.232002,
        164.259585,
        165.05302,
        165.270088
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.5
    },
    "latest_close": 164.800003,
    "trend_reference": 165.303523,
    "distance_from_trend": -0.003046,
    "trend_direction": "Improving",
    "fair_value": 149.967761,
    "distance_from_fair_value": 0.098903,
    "fair_value_direction": "Weakening",
    "relative_strength": -5.642977,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.003628,
    "excess_performance": -0.068267,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.003046,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.015919,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.098903,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.038305,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.05643,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.101745,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.003628,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.642314,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 21808,
      "relative_activity": 2.638628,
      "balance": 1.642314,
      "dry_up": 1.597327,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.017525,
      "annualized_volatility": 0.060917,
      "from_high_reference": -0.022539,
      "from_low_reference": 0.07013
    },
    "levels": {
      "trend_reference": 165.303523,
      "fair_value_reference": 149.967761,
      "structural_low": 160.991416,
      "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": 14,
        "median_return": 0.003687,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.018331,
        "regime_survival": 0.642857,
        "best_return": 0.033766,
        "worst_return": -0.209174,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.0,
        "positive_rate": 0.4,
        "directional_follow_through": 0.4,
        "median_excess_return": -0.111479,
        "regime_survival": 0.2,
        "best_return": 0.016753,
        "worst_return": -0.211927,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": -0.051887,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.07158,
        "regime_survival": 0.25,
        "best_return": 0.044304,
        "worst_return": -0.293782,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.073793,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.181044,
        "regime_survival": 0.0,
        "best_return": 0.04383,
        "worst_return": -0.187378,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-03-22",
        "end": "2024-05-24",
        "tenure": "Developing",
        "return": 0.025773,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-05-31",
        "end": "2024-08-30",
        "tenure": "Established",
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      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "active": false
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      {
        "regime": "upward_expansion",
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        "return": -0.002601,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-01-24",
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      },
      {
        "regime": "upward_expansion",
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        "color": "green",
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        "return": -0.002577,
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      },
      {
        "regime": "balance",
        "label": "Balance",
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        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "active": false
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      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "active": false
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      {
        "regime": "balance",
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      {
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        "tenure": "New",
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        "active": false
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      {
        "regime": "upward_expansion",
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        "active": true
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        "date": "2026-04-24",
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        "fair_value": 147.166974,
        "relative_strength": 5.596816,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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      },
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        "date": "2026-05-01",
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      },
      {
        "date": "2026-05-08",
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-05-15",
        "close": 167.399994,
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        "trend": 161.986666,
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        "relative_strength": 5.805327,
        "stage": 2,
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        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 11205.5,
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        "relative_strength": 1.475288,
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      },
      {
        "date": "2026-05-29",
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        "relative_strength": 0.151555,
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        "direction": 43.654576,
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      },
      {
        "date": "2026-06-05",
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        "volume": 3334,
        "typical_volume": 10627.6,
        "trend": 163.086666,
        "fair_value": 148.30318,
        "relative_strength": 1.774683,
        "stage": 2,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-06-12",
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        "typical_volume": 9933.2,
        "trend": 163.317999,
        "fair_value": 148.47351,
        "relative_strength": -0.709103,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
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        "relative_strength": -0.601846,
        "stage": 3,
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        "energy": 16.845204,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
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        "volume": 994,
        "typical_volume": 9386.25,
        "trend": 163.90076,
        "fair_value": 148.857518,
        "relative_strength": 0.237747,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": -1.238425,
        "energy": 19.60298,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
        "close": 165.202866,
        "volume": 689,
        "typical_volume": 8981.95,
        "trend": 164.200856,
        "fair_value": 149.059115,
        "relative_strength": -3.387891,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 1.283262,
        "energy": 20.089046,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 163.479996,
        "volume": 9945,
        "typical_volume": 9043.95,
        "trend": 164.423523,
        "fair_value": 149.236872,
        "relative_strength": -1.721192,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "mixed",
        "direction": -23.446495,
        "energy": 30.892977,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 165.0,
        "volume": 8365,
        "typical_volume": 8954.75,
        "trend": 164.710189,
        "fair_value": 149.427862,
        "relative_strength": 0.073663,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": -13.750554,
        "energy": 13.788914,
        "activity_lines": [
          164.48438,
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          165.505957,
          165.435501
        ]
      },
      {
        "date": "2026-07-24",
        "close": 163.600006,
        "volume": 7495,
        "typical_volume": 8562.3,
        "trend": 164.93019,
        "fair_value": 149.604062,
        "relative_strength": -1.868509,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": -28.418474,
        "energy": 18.60937,
        "activity_lines": [
          164.193335,
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          165.30355,
          165.363876
        ]
      },
      {
        "date": "2026-07-31",
        "close": 163.8,
        "volume": 15139,
        "typical_volume": 7656.85,
        "trend": 165.123523,
        "fair_value": 149.778053,
        "relative_strength": -3.73032,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": -25.788185,
        "energy": 19.061383,
        "activity_lines": [
          164.037525,
          164.210597,
          165.126856,
          165.29096
        ]
      },
      {
        "date": "2026-08-07",
        "close": 164.800003,
        "volume": 21808,
        "typical_volume": 8264.9,
        "trend": 165.303523,
        "fair_value": 149.967761,
        "relative_strength": -5.642977,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "down",
        "direction": -46.969762,
        "energy": 22.58221,
        "activity_lines": [
          164.232002,
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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."
    }
  }
}