{
  "ticker": {
    "uuid": "72e99efc-da22-4253-b7dc-cfa6892084bb",
    "symbol": "DBG",
    "name": "Derichebourg 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": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 88.743,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 11.059,
    "architecture_energy": 13.412,
    "architecture_maturity": 45.528,
    "architecture_confidence": 78.008,
    "architecture_tenure": "New",
    "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": 57.76,
        "rotation_up": 20.52,
        "upward_expansion": 47.29,
        "deceleration": 83.51,
        "rotation_down": 35.17,
        "downward_expansion": 27.62
      },
      "activity_lines": [
        9.350333,
        9.507,
        9.582476,
        9.387452
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.166667
    },
    "latest_close": 9.325,
    "trend_reference": 9.062272,
    "distance_from_trend": 0.028991,
    "trend_direction": "Improving",
    "fair_value": 5.810524,
    "distance_from_fair_value": 0.604847,
    "fair_value_direction": "Weakening",
    "relative_strength": 12.278658,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.131167,
    "excess_performance": 0.077856,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.028991,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.131872,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.604847,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.161882,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.122787,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.265738,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.131167,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.110776,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 799543,
      "relative_activity": 1.348089,
      "balance": 1.110776,
      "dry_up": 0.987023,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.06954,
      "annualized_volatility": 0.339297,
      "from_high_reference": -0.152273,
      "from_low_reference": 0.994075
    },
    "levels": {
      "trend_reference": 9.062272,
      "fair_value_reference": 5.810524,
      "structural_low": 7.56,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 9,
        "median_return": 0.013861,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.003939,
        "regime_survival": 0.555556,
        "best_return": 0.104847,
        "worst_return": -0.139724,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": 0.036347,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.036739,
        "regime_survival": 0.0,
        "best_return": 0.183661,
        "worst_return": -0.048713,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.258272,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.184261,
        "regime_survival": 0.0,
        "best_return": 0.278009,
        "worst_return": -0.060732,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.041833,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.101127,
        "regime_survival": 0.0,
        "best_return": 0.195852,
        "worst_return": -0.112186,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-09-06",
        "end": "2024-11-08",
        "tenure": "Developing",
        "return": -0.008074,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-11-15",
        "end": "2025-01-03",
        "tenure": "Developing",
        "return": 0.034653,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-01-10",
        "end": "2025-06-13",
        "tenure": "Established",
        "return": 0.098959,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-06-20",
        "end": "2025-08-22",
        "tenure": "Developing",
        "return": 0.144301,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-08-29",
        "end": "2025-08-29",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-09-05",
        "end": "2025-09-19",
        "tenure": "New",
        "return": 0.01173,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-09-26",
        "end": "2025-10-10",
        "tenure": "New",
        "return": 0.140284,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-10-17",
        "end": "2025-10-24",
        "tenure": "New",
        "return": 0.003303,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-11-07",
        "tenure": "New",
        "return": -0.038851,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-11-28",
        "tenure": "New",
        "return": 0.089907,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2026-03-27",
        "tenure": "Established",
        "return": 0.093211,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "tenure": "New",
        "return": 0.088849,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "return": 0.019597,
        "active": false
      },
      {
        "regime": "deceleration",
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        "tenure": "New",
        "return": 0.001074,
        "active": true
      }
    ],
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 607837.55,
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        "fair_value": 5.755769,
        "relative_strength": 20.487869,
        "stage": 2,
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        "energy": 18.20064,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 9.295,
        "volume": 589178,
        "typical_volume": 594217.1,
        "trend": 8.986175,
        "fair_value": 5.783229,
        "relative_strength": 15.334389,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 12.303903,
        "energy": 14.626983,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-08-07",
        "close": 9.325,
        "volume": 799543,
        "typical_volume": 593093.85,
        "trend": 9.062272,
        "fair_value": 5.810524,
        "relative_strength": 12.278658,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 11.059113,
        "energy": 13.412319,
        "activity_lines": [
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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."
    }
  }
}