{
  "ticker": {
    "uuid": "7b9e6bdd-c000-476b-8b91-53530a0e517b",
    "symbol": "PWO",
    "name": "PWO AG",
    "exchange": "GER",
    "country": "DE",
    "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": "^GDAXI",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "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": -61.346,
    "architecture_energy": 53.158,
    "architecture_maturity": 13.515,
    "architecture_confidence": 75.705,
    "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": 13.9,
        "rotation_up": 11.74,
        "upward_expansion": 8.6,
        "deceleration": 43.68,
        "rotation_down": 69.26,
        "downward_expansion": 84.26
      },
      "activity_lines": [
        23.226666,
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        24.043743,
        24.093971
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.833333
    },
    "latest_close": 23.799999,
    "trend_reference": 24.259411,
    "distance_from_trend": -0.018937,
    "trend_direction": "Weakening",
    "fair_value": 25.639542,
    "distance_from_fair_value": -0.071746,
    "fair_value_direction": "Weakening",
    "relative_strength": -13.660587,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.031529,
    "excess_performance": -0.096168,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.018937,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.045132,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.071746,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.033436,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.136606,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.070359,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.031529,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.515727,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 1653,
      "relative_activity": 1.243886,
      "balance": 2.515727,
      "dry_up": 1.125743,
      "accumulation_observations": 3,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.039352,
      "annualized_volatility": 0.197599,
      "from_high_reference": -0.165331,
      "from_low_reference": 0.084357
    },
    "levels": {
      "trend_reference": 24.259411,
      "fair_value_reference": 25.639542,
      "structural_low": 21.948495,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 14,
        "median_return": 0.017601,
        "positive_rate": 0.642857,
        "directional_follow_through": 0.357143,
        "median_excess_return": 0.011774,
        "regime_survival": 0.571429,
        "best_return": 0.285124,
        "worst_return": -0.042017,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 7,
        "median_return": 0.068966,
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        "median_excess_return": -0.021882,
        "regime_survival": 0.285714,
        "best_return": 0.243698,
        "worst_return": -0.038866,
        "sufficient": true
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      {
        "horizon": "Extended",
        "sample_count": 5,
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        "directional_follow_through": 0.2,
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        "regime_survival": 0.2,
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        "worst_return": -0.031529,
        "sufficient": true
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        "horizon": "Full cycle",
        "sample_count": 4,
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        "relative_strength": -4.632728,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -22.428615,
        "energy": 27.79572,
        "activity_lines": [
          24.774911,
          24.070013,
          24.389898,
          25.00769
        ]
      },
      {
        "date": "2026-05-01",
        "close": 25.137592,
        "volume": 440,
        "typical_volume": 2490.0,
        "trend": 25.744148,
        "fair_value": 25.753842,
        "relative_strength": -5.150255,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -14.157883,
        "energy": 28.530911,
        "activity_lines": [
          25.062555,
          24.308769,
          24.394364,
          24.962909
        ]
      },
      {
        "date": "2026-05-08",
        "close": 24.762405,
        "volume": 497,
        "typical_volume": 2494.75,
        "trend": 25.631591,
        "fair_value": 25.748864,
        "relative_strength": -6.62473,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -4.760119,
        "energy": 22.036589,
        "activity_lines": [
          25.062555,
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          24.373818,
          24.899571
        ]
      },
      {
        "date": "2026-05-15",
        "close": 24.950001,
        "volume": 231,
        "typical_volume": 2479.95,
        "trend": 25.531541,
        "fair_value": 25.747229,
        "relative_strength": -4.345508,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -6.319121,
        "energy": 16.221301,
        "activity_lines": [
          25.012531,
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          24.383644,
          24.855598
        ]
      },
      {
        "date": "2026-05-22",
        "close": 25.6,
        "volume": 4774,
        "typical_volume": 2613.5,
        "trend": 25.465664,
        "fair_value": 25.750831,
        "relative_strength": -5.398188,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": 5.041269,
        "energy": 14.333363,
        "activity_lines": [
          25.166666,
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          24.468775,
          24.860014
        ]
      },
      {
        "date": "2026-05-29",
        "close": 25.6,
        "volume": 3499,
        "typical_volume": 2694.6,
        "trend": 25.40604,
        "fair_value": 25.751222,
        "relative_strength": -6.036378,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": 3.637541,
        "energy": 14.373701,
        "activity_lines": [
          25.327494,
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          24.563317,
          24.868681
        ]
      },
      {
        "date": "2026-06-05",
        "close": 25.200001,
        "volume": 100,
        "typical_volume": 2502.8,
        "trend": 25.345589,
        "fair_value": 25.75333,
        "relative_strength": -6.031621,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -2.318855,
        "energy": 15.430578,
        "activity_lines": [
          25.324161,
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          24.855388
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      },
      {
        "date": "2026-06-12",
        "close": 25.200001,
        "volume": 49,
        "typical_volume": 2142.05,
        "trend": 25.278885,
        "fair_value": 25.754367,
        "relative_strength": -5.334752,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 14.943429,
        "energy": 20.796599,
        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
        "close": 24.200001,
        "volume": 0,
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        "relative_strength": -10.065226,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -31.700504,
        "energy": 14.881899,
        "activity_lines": [
          24.946667,
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      },
      {
        "date": "2026-06-26",
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        "volume": 200,
        "typical_volume": 1994.95,
        "trend": 25.076742,
        "fair_value": 25.751122,
        "relative_strength": -12.382578,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -55.301657,
        "energy": 34.364738,
        "activity_lines": [
          24.293334,
          24.707273,
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          24.647512
        ]
      },
      {
        "date": "2026-07-03",
        "close": 23.799999,
        "volume": 0,
        "typical_volume": 1938.95,
        "trend": 24.98213,
        "fair_value": 25.752815,
        "relative_strength": -13.62701,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -56.192675,
        "energy": 40.576187,
        "activity_lines": [
          24.0,
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          24.515539,
          24.565142
        ]
      },
      {
        "date": "2026-07-10",
        "close": 23.799999,
        "volume": 1331,
        "typical_volume": 1914.85,
        "trend": 24.862506,
        "fair_value": 25.737388,
        "relative_strength": -10.822515,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -59.201957,
        "energy": 54.320284,
        "activity_lines": [
          23.826666,
          24.332044,
          24.468423,
          24.488875
        ]
      },
      {
        "date": "2026-07-17",
        "close": 23.0,
        "volume": 1358,
        "typical_volume": 1728.3,
        "trend": 24.716215,
        "fair_value": 25.715763,
        "relative_strength": -12.670856,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -74.589027,
        "energy": 72.538126,
        "activity_lines": [
          23.48,
          24.035455,
          24.348806,
          24.368714
        ]
      },
      {
        "date": "2026-07-24",
        "close": 22.799999,
        "volume": 1553,
        "typical_volume": 1527.9,
        "trend": 24.550752,
        "fair_value": 25.685366,
        "relative_strength": -14.019827,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -76.339579,
        "energy": 75.987345,
        "activity_lines": [
          23.213333,
          23.734545,
          24.213174,
          24.245087
        ]
      },
      {
        "date": "2026-07-31",
        "close": 22.8,
        "volume": 1420,
        "typical_volume": 1397.6,
        "trend": 24.391541,
        "fair_value": 25.658179,
        "relative_strength": -15.392809,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -71.286255,
        "energy": 72.318364,
        "activity_lines": [
          23.04,
          23.472727,
          24.081527,
          24.132135
        ]
      },
      {
        "date": "2026-08-07",
        "close": 23.799999,
        "volume": 1653,
        "typical_volume": 1328.9,
        "trend": 24.259411,
        "fair_value": 25.639542,
        "relative_strength": -13.660587,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -61.345718,
        "energy": 53.158397,
        "activity_lines": [
          23.226666,
          23.443636,
          24.043743,
          24.093971
        ]
      }
    ],
    "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."
    }
  }
}