{
  "ticker": {
    "uuid": "52c5a83a-649f-468d-b574-3ac79037a90b",
    "symbol": "ALDLS",
    "name": "DLSI",
    "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": 1,
    "stage_name": "Basing",
    "phase": "1c",
    "phase_label": "Stage 1C \u00b7 Breakout watch",
    "transition": "stage_1_to_2_watch",
    "transition_label": "Stage 1 \u2192 2 watch",
    "confidence": 96.0,
    "architecture_regime": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Emerging rotation",
    "architecture_gate": "mixed",
    "architecture_direction": 40.844,
    "architecture_energy": 51.257,
    "architecture_maturity": 13.156,
    "architecture_confidence": 53.019,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating upward.",
        "body": "Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair."
      },
      "scores": {
        "balance": 14.44,
        "rotation_up": 65.49,
        "upward_expansion": 62.01,
        "deceleration": 21.72,
        "rotation_down": 22.33,
        "downward_expansion": 18.01
      },
      "activity_lines": [
        10.786667,
        10.627273,
        10.299762,
        10.163333
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 10.9,
    "trend_reference": 10.24,
    "distance_from_trend": 0.064453,
    "trend_direction": "Weakening",
    "fair_value": 11.603136,
    "distance_from_fair_value": -0.060599,
    "fair_value_direction": "Improving",
    "relative_strength": -3.86338,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.035398,
    "excess_performance": -0.08871,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.064453,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.020096,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.060599,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.172946,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.038634,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.135132,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.035398,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.979542,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 249,
      "relative_activity": 0.329605,
      "balance": 2.979542,
      "dry_up": 0.680058,
      "accumulation_observations": 4,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.050106,
      "annualized_volatility": 0.320359,
      "from_high_reference": -0.099174,
      "from_low_reference": 0.282353
    },
    "levels": {
      "trend_reference": 10.24,
      "fair_value_reference": 11.603136,
      "structural_low": 8.5,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 8,
        "median_return": -0.00766,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.033374,
        "regime_survival": 0.375,
        "best_return": 0.071429,
        "worst_return": -0.125,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.017857,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": -0.058329,
        "regime_survival": 0.0,
        "best_return": 0.130769,
        "worst_return": -0.239316,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": 0.017857,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": -0.059052,
        "regime_survival": 0.4,
        "best_return": 0.21028,
        "worst_return": -0.213736,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.000481,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.086317,
        "regime_survival": 0.333333,
        "best_return": 0.060265,
        "worst_return": -0.044643,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-08-09",
        "end": "2024-09-27",
        "tenure": "Developing",
        "return": 0.037037,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-10-04",
        "end": "2025-07-11",
        "tenure": "Extended",
        "return": 0.019844,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-07-18",
        "end": "2025-07-25",
        "tenure": "New",
        "return": -0.008772,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-08-29",
        "tenure": "Developing",
        "return": 0.071429,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-09-05",
        "end": "2025-10-03",
        "tenure": "Developing",
        "return": -0.130435,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-10-10",
        "end": "2025-10-17",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-10-24",
        "end": "2025-11-14",
        "tenure": "New",
        "return": 0.04902,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-11-21",
        "end": "2026-01-09",
        "tenure": "Developing",
        "return": 0.045455,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-01-16",
        "end": "2026-02-20",
        "tenure": "Developing",
        "return": -0.068376,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-02-27",
        "end": "2026-03-06",
        "tenure": "New",
        "return": -0.009259,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-03-13",
        "end": "2026-03-20",
        "tenure": "New",
        "return": -0.117647,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2026-06-05",
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      {
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      {
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        "active": true
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    ],
    "chart_path": [
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        "date": "2023-08-18",
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        ]
      },
      {
        "date": "2026-05-01",
        "close": 9.5,
        "volume": 69,
        "typical_volume": 1004.15,
        "trend": 10.518333,
        "fair_value": 11.761924,
        "relative_strength": -13.195256,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -62.197048,
        "energy": 58.470117,
        "activity_lines": [
          9.213333,
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          9.899762,
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        ]
      },
      {
        "date": "2026-05-08",
        "close": 9.0,
        "volume": 1505,
        "typical_volume": 1018.15,
        "trend": 10.485,
        "fair_value": 11.742373,
        "relative_strength": -17.376594,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -57.726007,
        "energy": 51.011584,
        "activity_lines": [
          9.193333,
          9.143636,
          9.764762,
          10.13914
        ]
      },
      {
        "date": "2026-05-15",
        "close": 9.65,
        "volume": 975,
        "typical_volume": 1045.6,
        "trend": 10.473333,
        "fair_value": 11.725246,
        "relative_strength": -9.441516,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -44.115117,
        "energy": 33.638182,
        "activity_lines": [
          9.363333,
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          9.70119,
          10.085269
        ]
      },
      {
        "date": "2026-05-22",
        "close": 10.1,
        "volume": 1417,
        "typical_volume": 1098.05,
        "trend": 10.47,
        "fair_value": 11.714779,
        "relative_strength": -6.956286,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -34.06671,
        "energy": 25.77435,
        "activity_lines": [
          9.633333,
          9.37,
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          10.061183
        ]
      },
      {
        "date": "2026-05-29",
        "close": 10.8,
        "volume": 945,
        "typical_volume": 1123.45,
        "trend": 10.45,
        "fair_value": 11.708509,
        "relative_strength": -1.261812,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": 0.784521,
        "energy": 18.079589,
        "activity_lines": [
          10.056667,
          9.662727,
          9.749762,
          10.082473
        ]
      },
      {
        "date": "2026-06-05",
        "close": 10.1,
        "volume": 293,
        "typical_volume": 1053.25,
        "trend": 10.416667,
        "fair_value": 11.697171,
        "relative_strength": -7.882471,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -7.051381,
        "energy": 24.001344,
        "activity_lines": [
          10.153333,
          9.795455,
          9.747381,
          10.059892
        ]
      },
      {
        "date": "2026-06-12",
        "close": 9.8,
        "volume": 101,
        "typical_volume": 1000.55,
        "trend": 10.386667,
        "fair_value": 11.681586,
        "relative_strength": -11.760447,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -6.086797,
        "energy": 23.127838,
        "activity_lines": [
          10.11,
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          10.020108
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      },
      {
        "date": "2026-06-19",
        "close": 10.2,
        "volume": 644,
        "typical_volume": 992.0,
        "trend": 10.36,
        "fair_value": 11.670018,
        "relative_strength": -8.697186,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": 1.429223,
        "energy": 22.048027,
        "activity_lines": [
          10.146667,
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          10.008065
        ]
      },
      {
        "date": "2026-06-26",
        "close": 10.6,
        "volume": 7,
        "typical_volume": 948.5,
        "trend": 10.343333,
        "fair_value": 11.660097,
        "relative_strength": -4.583297,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": 14.088614,
        "energy": 29.949789,
        "activity_lines": [
          10.28,
          10.112727,
          9.813571,
          10.023548
        ]
      },
      {
        "date": "2026-07-03",
        "close": 10.4,
        "volume": 1469,
        "typical_volume": 982.55,
        "trend": 10.326667,
        "fair_value": 11.648595,
        "relative_strength": -7.391244,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": 3.667872,
        "energy": 22.617559,
        "activity_lines": [
          10.313333,
          10.200909,
          9.864524,
          10.027204
        ]
      },
      {
        "date": "2026-07-10",
        "close": 10.5,
        "volume": 449,
        "typical_volume": 908.35,
        "trend": 10.316667,
        "fair_value": 11.638033,
        "relative_strength": -4.330282,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 24.993252,
        "energy": 36.939012,
        "activity_lines": [
          10.406667,
          10.289091,
          9.929286,
          10.038387
        ]
      },
      {
        "date": "2026-07-17",
        "close": 10.5,
        "volume": 185,
        "typical_volume": 911.8,
        "trend": 10.3,
        "fair_value": 11.627471,
        "relative_strength": -4.050673,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 24.182306,
        "energy": 32.184183,
        "activity_lines": [
          10.473333,
          10.359091,
          9.995952,
          10.050215
        ]
      },
      {
        "date": "2026-07-24",
        "close": 11.0,
        "volume": 1431,
        "typical_volume": 961.95,
        "trend": 10.286667,
        "fair_value": 11.620114,
        "relative_strength": 0.305315,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 48.823533,
        "energy": 45.490042,
        "activity_lines": [
          10.66,
          10.492727,
          10.111667,
          10.095376
        ]
      },
      {
        "date": "2026-07-31",
        "close": 10.7,
        "volume": 190,
        "typical_volume": 928.25,
        "trend": 10.26,
        "fair_value": 11.611134,
        "relative_strength": -3.684507,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 35.042747,
        "energy": 44.477749,
        "activity_lines": [
          10.693333,
          10.547273,
          10.197381,
          10.122043
        ]
      },
      {
        "date": "2026-08-07",
        "close": 10.9,
        "volume": 249,
        "typical_volume": 755.45,
        "trend": 10.24,
        "fair_value": 11.603136,
        "relative_strength": -3.86338,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 40.843882,
        "energy": 51.257338,
        "activity_lines": [
          10.786667,
          10.627273,
          10.299762,
          10.163333
        ]
      }
    ],
    "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."
    }
  }
}