{
  "ticker": {
    "uuid": "58bc6013-14f6-4151-b60d-069e7d9fe140",
    "symbol": "CSUD3",
    "name": "CSU Digital S.A.",
    "exchange": "SAO",
    "country": "BR",
    "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": "^BVSP",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4a",
    "phase_label": "Stage 4A \u00b7 Breakdown",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 96.0,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -69.036,
    "architecture_energy": 67.668,
    "architecture_maturity": 36.499,
    "architecture_confidence": 96,
    "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": 3.33,
        "rotation_up": 23.03,
        "upward_expansion": 13.69,
        "deceleration": 46.41,
        "rotation_down": 62.97,
        "downward_expansion": 89.36
      },
      "activity_lines": [
        14.283333,
        14.542311,
        15.503715,
        16.191829
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": -0.833333
    },
    "latest_close": 14.18,
    "trend_reference": 17.010222,
    "distance_from_trend": -0.166384,
    "trend_direction": "Weakening",
    "fair_value": 15.404526,
    "distance_from_fair_value": -0.079491,
    "fair_value_direction": "Weakening",
    "relative_strength": -18.912527,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.235622,
    "excess_performance": -0.178574,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.166384,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.04293,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.079491,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.201742,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.189125,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.034151,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.235622,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.382302,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 148900,
      "relative_activity": 0.417204,
      "balance": 0.382302,
      "dry_up": 0.568857,
      "accumulation_observations": 0,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.06013,
      "annualized_volatility": 0.23254,
      "from_high_reference": -0.283838,
      "from_low_reference": 0.034282
    },
    "levels": {
      "trend_reference": 17.010222,
      "fair_value_reference": 15.404526,
      "structural_low": 13.71,
      "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": 18,
        "median_return": -0.000609,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.009224,
        "regime_survival": 0.833333,
        "best_return": 0.16091,
        "worst_return": -0.18392,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": 0.001883,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.01539,
        "regime_survival": 0.5,
        "best_return": 0.532547,
        "worst_return": -0.377952,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": -0.010589,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.023829,
        "regime_survival": 0.0,
        "best_return": 0.272679,
        "worst_return": -0.261472,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.099263,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.005107,
        "regime_survival": 0.0,
        "best_return": 0.848632,
        "worst_return": -0.259872,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-10-04",
        "end": "2025-01-24",
        "tenure": "Established",
        "return": -0.0536,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-01-31",
        "end": "2025-02-28",
        "tenure": "Developing",
        "return": 0.046875,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-03-07",
        "end": "2025-03-14",
        "tenure": "New",
        "return": 0.00799,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "end": "2025-05-02",
        "tenure": "Developing",
        "return": 0.065838,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-09",
        "end": "2025-07-25",
        "tenure": "Developing",
        "return": -0.024516,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-09-05",
        "tenure": "Developing",
        "return": 0.01547,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2025-10-10",
        "tenure": "Developing",
        "return": -0.013958,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-10-17",
        "end": "2025-11-14",
        "tenure": "Developing",
        "return": 0.093484,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2026-01-02",
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        "return": -0.029286,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-01-09",
        "end": "2026-01-23",
        "tenure": "New",
        "return": 0.003344,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "return": -0.079398,
        "active": false
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      {
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        "regime": "rotation_down",
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        "tenure": "New",
        "return": -0.040548,
        "active": false
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        "regime": "downward_expansion",
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        "return": -0.141842,
        "active": true
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      },
      {
        "date": "2026-04-24",
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        "typical_volume": 370800.0,
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        "fair_value": 14.909147,
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      },
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        "date": "2026-05-08",
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        "date": "2026-06-05",
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        "regime": "rotation_down",
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        "date": "2026-06-12",
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      },
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      },
      {
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        "energy": 81.369772,
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      },
      {
        "date": "2026-07-03",
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        "typical_volume": 327805.0,
        "trend": 17.499098,
        "fair_value": 15.309863,
        "relative_strength": -20.606623,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 366605.0,
        "trend": 17.401376,
        "fair_value": 15.336748,
        "relative_strength": -23.575221,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -81.535349,
        "energy": 91.47978,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 14.77,
        "volume": 250200,
        "typical_volume": 365750.0,
        "trend": 17.303999,
        "fair_value": 15.363851,
        "relative_strength": -17.780587,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -66.886047,
        "energy": 83.672441,
        "activity_lines": [
          14.604909,
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          16.200913,
          16.771053
        ]
      },
      {
        "date": "2026-07-24",
        "close": 14.29,
        "volume": 170300,
        "typical_volume": 359115.0,
        "trend": 17.214129,
        "fair_value": 15.372842,
        "relative_strength": -20.100177,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -71.36608,
        "energy": 84.986075,
        "activity_lines": [
          14.462138,
          14.987905,
          15.954948,
          16.576602
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      },
      {
        "date": "2026-07-31",
        "close": 14.2,
        "volume": 242700,
        "typical_volume": 360535.0,
        "trend": 17.129841,
        "fair_value": 15.388849,
        "relative_strength": -21.756502,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -70.760562,
        "energy": 78.092808,
        "activity_lines": [
          14.35,
          14.738704,
          15.720702,
          16.382142
        ]
      },
      {
        "date": "2026-08-07",
        "close": 14.18,
        "volume": 148900,
        "typical_volume": 356900.0,
        "trend": 17.010222,
        "fair_value": 15.404526,
        "relative_strength": -18.912527,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -69.035841,
        "energy": 67.668074,
        "activity_lines": [
          14.283333,
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          15.503715,
          16.191829
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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."
    }
  }
}