{
  "ticker": {
    "uuid": "514176c7-6818-48d6-94eb-5ae7aa94b98a",
    "symbol": "GGBN",
    "name": "Gerdau S.A.",
    "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": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Re-accelerating",
    "architecture_gate": "up",
    "architecture_direction": 83.403,
    "architecture_energy": 93.583,
    "architecture_maturity": 15.38,
    "architecture_confidence": 80.691,
    "architecture_tenure": "New",
    "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": 11.09,
        "rotation_up": 82.4,
        "upward_expansion": 95.2,
        "deceleration": 44.7,
        "rotation_down": 13.35,
        "downward_expansion": 26.54
      },
      "activity_lines": [
        84.589334,
        80.6,
        79.36498,
        77.031879
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.333333
    },
    "latest_close": 87.5,
    "trend_reference": 74.962273,
    "distance_from_trend": 0.167254,
    "trend_direction": "Improving",
    "fair_value": 64.518534,
    "distance_from_fair_value": 0.356199,
    "fair_value_direction": "Improving",
    "relative_strength": 24.226434,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.15475,
    "excess_performance": 0.209416,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.167254,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.066524,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.356199,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.030468,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.242264,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.023057,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.15475,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 3.315994,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 13108,
      "relative_activity": 1.082286,
      "balance": 3.315994,
      "dry_up": 0.349237,
      "accumulation_observations": 1,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.035647,
      "annualized_volatility": 0.457699,
      "from_high_reference": 0.0,
      "from_low_reference": 0.599224
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    "levels": {
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      "fair_value_reference": 64.518534,
      "structural_low": 56.87503,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 18,
        "median_return": -0.039601,
        "positive_rate": 0.388889,
        "directional_follow_through": 0.388889,
        "median_excess_return": -0.019435,
        "regime_survival": 0.722222,
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        "worst_return": -0.144671,
        "sufficient": true
      },
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        "horizon": "Intermediate",
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        "sufficient": true
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        "horizon": "Full cycle",
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        "typical_volume": 12281.7,
        "trend": 66.848,
        "fair_value": 64.110484,
        "relative_strength": 11.293724,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 69.565348,
        "energy": 55.92431,
        "activity_lines": [
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 12922.95,
        "trend": 67.443671,
        "fair_value": 64.132654,
        "relative_strength": 13.894346,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
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        "direction": 78.648796,
        "energy": 65.716272,
        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 21123.6,
        "trend": 68.300917,
        "fair_value": 64.209122,
        "relative_strength": 21.92074,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 93.926671,
        "energy": 96.555753,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 21120.8,
        "trend": 69.065695,
        "fair_value": 64.282923,
        "relative_strength": 20.559721,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 79.633018,
        "energy": 92.172892,
        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 21370.8,
        "trend": 69.650604,
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        "relative_strength": 15.211495,
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        "gate": "up",
        "direction": 67.935155,
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        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-29",
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        "typical_volume": 13735.05,
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        "relative_strength": 16.357669,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
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        "volume": 0,
        "typical_volume": 13700.25,
        "trend": 70.952756,
        "fair_value": 64.443622,
        "relative_strength": 21.388539,
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        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 69.430315,
        "energy": 77.693085,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "volume": 0,
        "typical_volume": 13677.7,
        "trend": 71.586949,
        "fair_value": 64.474819,
        "relative_strength": 16.550739,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "activity_lines": [
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      },
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        "date": "2026-06-19",
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        "volume": 0,
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        "trend": 72.019476,
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        "direction": 49.003649,
        "energy": 45.0757,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
        "close": 73.0,
        "volume": 0,
        "typical_volume": 13527.7,
        "trend": 72.328379,
        "fair_value": 64.475794,
        "relative_strength": 5.858501,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 27.123553,
        "energy": 23.657059,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
        "close": 70.139999,
        "volume": 0,
        "typical_volume": 13527.7,
        "trend": 72.541949,
        "fair_value": 64.44268,
        "relative_strength": 1.85836,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": -1.165366,
        "energy": 24.829012,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 70.139999,
        "volume": 0,
        "typical_volume": 12827.7,
        "trend": 72.755519,
        "fair_value": 64.381982,
        "relative_strength": 2.559893,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": -27.467113,
        "energy": 44.909345,
        "activity_lines": [
          72.077332,
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      },
      {
        "date": "2026-07-17",
        "close": 83.5,
        "volume": 1981,
        "typical_volume": 12825.05,
        "trend": 73.267198,
        "fair_value": 64.406394,
        "relative_strength": 21.152772,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 48.258776,
        "energy": 33.584628,
        "activity_lines": [
          75.295333,
          76.454727,
          76.223784,
          74.75015
        ]
      },
      {
        "date": "2026-07-24",
        "close": 83.400002,
        "volume": 108,
        "typical_volume": 12579.5,
        "trend": 73.815513,
        "fair_value": 64.399928,
        "relative_strength": 20.891509,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 70.291483,
        "energy": 38.15064,
        "activity_lines": [
          78.313334,
          77.482727,
          77.152919,
          75.403879
        ]
      },
      {
        "date": "2026-07-31",
        "close": 86.0,
        "volume": 1722,
        "typical_volume": 12658.5,
        "trend": 74.450496,
        "fair_value": 64.431348,
        "relative_strength": 22.90112,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "up",
        "direction": 80.248702,
        "energy": 80.541718,
        "activity_lines": [
          81.634667,
          78.964364,
          78.240207,
          76.189975
        ]
      },
      {
        "date": "2026-08-07",
        "close": 87.5,
        "volume": 13108,
        "typical_volume": 12111.4,
        "trend": 74.962273,
        "fair_value": 64.518534,
        "relative_strength": 24.226434,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 83.403155,
        "energy": 93.582788,
        "activity_lines": [
          84.589334,
          80.6,
          79.36498,
          77.031879
        ]
      }
    ],
    "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."
    }
  }
}