{
  "ticker": {
    "uuid": "6421add5-29d6-4d0a-8993-ab4523b66ead",
    "symbol": "BLC",
    "name": "Bastide Le Confort M\u00e9dical SA",
    "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": 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": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -68.352,
    "architecture_energy": 64.652,
    "architecture_maturity": 9.303,
    "architecture_confidence": 87.869,
    "architecture_tenure": "New",
    "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": 24.85,
        "rotation_up": 11.74,
        "upward_expansion": 13.57,
        "deceleration": 38.62,
        "rotation_down": 67.77,
        "downward_expansion": 86.9
      },
      "activity_lines": [
        23.12,
        23.441818,
        24.173333,
        24.319785
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.666667
    },
    "latest_close": 22.75,
    "trend_reference": 24.365,
    "distance_from_trend": -0.066284,
    "trend_direction": "Weakening",
    "fair_value": 23.606538,
    "distance_from_fair_value": -0.036284,
    "fair_value_direction": "Weakening",
    "relative_strength": -14.037173,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.034091,
    "excess_performance": -0.01922,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.066284,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.017936,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.036284,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.148927,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.140372,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.147599,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.034091,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.614521,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 10193,
      "relative_activity": 0.976224,
      "balance": 0.614521,
      "dry_up": 0.678894,
      "accumulation_observations": 1,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.049028,
      "annualized_volatility": 0.310733,
      "from_high_reference": -0.222222,
      "from_low_reference": 0.036446
    },
    "levels": {
      "trend_reference": 24.365,
      "fair_value_reference": 23.606538,
      "structural_low": 22.0,
      "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": 33,
        "median_return": -0.005254,
        "positive_rate": 0.484848,
        "directional_follow_through": 0.515152,
        "median_excess_return": 0.01891,
        "regime_survival": 0.787879,
        "best_return": 0.280178,
        "worst_return": -0.137255,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 13,
        "median_return": 0.0,
        "positive_rate": 0.461538,
        "directional_follow_through": 0.461538,
        "median_excess_return": -0.00674,
        "regime_survival": 0.615385,
        "best_return": 0.396296,
        "worst_return": -0.234875,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
        "median_return": -0.071371,
        "positive_rate": 0.375,
        "directional_follow_through": 0.625,
        "median_excess_return": -0.152357,
        "regime_survival": 0.5,
        "best_return": 0.435897,
        "worst_return": -0.300518,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": -0.139609,
        "positive_rate": 0.25,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.221212,
        "regime_survival": 0.75,
        "best_return": 0.358974,
        "worst_return": -0.382176,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2024-11-08",
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        "return": -0.121182,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-11-15",
        "end": "2024-11-29",
        "tenure": "New",
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      {
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        "return": 0.0,
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      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2024-12-20",
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        "return": 0.004141,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-01-24",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-02-21",
        "tenure": "New",
        "return": 0.14,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2025-08-08",
        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-09-05",
        "tenure": "New",
        "return": -0.132007,
        "active": false
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      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
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        "end": "2025-10-10",
        "tenure": "Developing",
        "return": -0.060311,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2026-02-27",
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        "gate": "mixed",
        "direction": 11.206762,
        "energy": 18.733663,
        "activity_lines": [
          25.05,
          24.66,
          24.426904,
          24.467849
        ]
      },
      {
        "date": "2026-05-08",
        "close": 26.700001,
        "volume": 23470,
        "typical_volume": 20432.6,
        "trend": 24.596667,
        "fair_value": 23.996923,
        "relative_strength": 0.722732,
        "stage": 2,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 68.092492,
        "energy": 58.328933,
        "activity_lines": [
          25.636667,
          25.041818,
          24.655952,
          24.609032
        ]
      },
      {
        "date": "2026-05-15",
        "close": 27.35,
        "volume": 11542,
        "typical_volume": 20191.5,
        "trend": 24.715,
        "fair_value": 23.966474,
        "relative_strength": 5.319734,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 74.606841,
        "energy": 68.008254,
        "activity_lines": [
          26.26,
          25.53,
          24.936666,
          24.786666
        ]
      },
      {
        "date": "2026-05-22",
        "close": 26.450001,
        "volume": 12060,
        "typical_volume": 20095.1,
        "trend": 24.79,
        "fair_value": 23.941795,
        "relative_strength": 0.079605,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 59.855129,
        "energy": 64.161592,
        "activity_lines": [
          26.43,
          25.803636,
          25.113571,
          24.898602
        ]
      },
      {
        "date": "2026-05-29",
        "close": 25.299999,
        "volume": 10096,
        "typical_volume": 19271.0,
        "trend": 24.81,
        "fair_value": 23.917115,
        "relative_strength": -4.856954,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 56.836154,
        "energy": 57.464047,
        "activity_lines": [
          26.186667,
          25.82,
          25.168571,
          24.931505
        ]
      },
      {
        "date": "2026-06-05",
        "close": 24.75,
        "volume": 1205,
        "typical_volume": 18834.6,
        "trend": 24.825,
        "fair_value": 23.889872,
        "relative_strength": -6.93631,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 47.032199,
        "energy": 29.336372,
        "activity_lines": [
          25.713333,
          25.712727,
          25.172143,
          24.927634
        ]
      },
      {
        "date": "2026-06-12",
        "close": 23.549999,
        "volume": 2322,
        "typical_volume": 18336.4,
        "trend": 24.726667,
        "fair_value": 23.845641,
        "relative_strength": -12.334321,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 8.191387,
        "energy": 13.107199,
        "activity_lines": [
          24.86,
          25.353636,
          25.06119,
          24.845376
        ]
      },
      {
        "date": "2026-06-19",
        "close": 23.25,
        "volume": 2992,
        "typical_volume": 17404.4,
        "trend": 24.67,
        "fair_value": 23.806859,
        "relative_strength": -13.519642,
        "stage": 4,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "mixed",
        "direction": -18.65682,
        "energy": 28.521956,
        "activity_lines": [
          24.116666,
          24.948182,
          24.922381,
          24.750107
        ]
      },
      {
        "date": "2026-06-26",
        "close": 24.85,
        "volume": 7954,
        "typical_volume": 16604.4,
        "trend": 24.626666,
        "fair_value": 23.78282,
        "relative_strength": -6.674789,
        "stage": 4,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": -14.373958,
        "energy": 25.60833,
        "activity_lines": [
          24.18,
          24.866363,
          24.935952,
          24.76172
        ]
      },
      {
        "date": "2026-07-03",
        "close": 24.25,
        "volume": 1421,
        "typical_volume": 15644.75,
        "trend": 24.581666,
        "fair_value": 23.751731,
        "relative_strength": -9.591428,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": -15.908296,
        "energy": 24.934533,
        "activity_lines": [
          24.15,
          24.696364,
          24.878809,
          24.737419
        ]
      },
      {
        "date": "2026-07-10",
        "close": 23.35,
        "volume": 6734,
        "typical_volume": 15010.05,
        "trend": 24.523333,
        "fair_value": 23.722564,
        "relative_strength": -10.450515,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "mixed",
        "direction": -27.955292,
        "energy": 38.977756,
        "activity_lines": [
          23.89,
          24.369091,
          24.73619,
          24.657957
        ]
      },
      {
        "date": "2026-07-17",
        "close": 23.549999,
        "volume": 4230,
        "typical_volume": 13276.0,
        "trend": 24.49,
        "fair_value": 23.699487,
        "relative_strength": -9.030387,
        "stage": 4,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "mixed",
        "direction": -22.688797,
        "energy": 24.824213,
        "activity_lines": [
          23.79,
          24.109091,
          24.618095,
          24.595161
        ]
      },
      {
        "date": "2026-07-24",
        "close": 23.0,
        "volume": 5426,
        "typical_volume": 11810.5,
        "trend": 24.471667,
        "fair_value": 23.67032,
        "relative_strength": -10.827836,
        "stage": 4,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "mixed",
        "direction": -40.886267,
        "energy": 46.408902,
        "activity_lines": [
          23.506666,
          23.806363,
          24.459524,
          24.499032
        ]
      },
      {
        "date": "2026-07-31",
        "close": 23.4,
        "volume": 8505,
        "typical_volume": 11165.75,
        "trend": 24.456666,
        "fair_value": 23.640192,
        "relative_strength": -10.083213,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -57.499027,
        "energy": 55.915492,
        "activity_lines": [
          23.373333,
          23.655454,
          24.346428,
          24.429892
        ]
      },
      {
        "date": "2026-08-07",
        "close": 22.75,
        "volume": 10193,
        "typical_volume": 10441.25,
        "trend": 24.365,
        "fair_value": 23.606538,
        "relative_strength": -14.037173,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -68.351953,
        "energy": 64.652086,
        "activity_lines": [
          23.12,
          23.441818,
          24.173333,
          24.319785
        ]
      }
    ],
    "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."
    }
  }
}