{
  "ticker": {
    "uuid": "849b81ce-b547-4311-86c5-261dd5635593",
    "symbol": "ENRS",
    "name": "Enerside Energy, S.A.",
    "exchange": "MCE",
    "country": "ES",
    "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": "^IBEX",
    "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": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -48.089,
    "architecture_energy": 40.814,
    "architecture_maturity": 100.0,
    "architecture_confidence": 87.028,
    "architecture_tenure": "Extended",
    "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": 24.38,
        "rotation_up": 27.72,
        "upward_expansion": 19.45,
        "deceleration": 47.0,
        "rotation_down": 39.08,
        "downward_expansion": 69.45
      },
      "activity_lines": [
        0.462333,
        0.442073,
        0.533781,
        0.622718
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.5
    },
    "latest_close": 0.595,
    "trend_reference": 0.748467,
    "distance_from_trend": -0.205041,
    "trend_direction": "Weakening",
    "fair_value": 2.589674,
    "distance_from_fair_value": -0.770241,
    "fair_value_direction": "Weakening",
    "relative_strength": -59.529037,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.42233,
    "excess_performance": -0.546761,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.205041,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.283878,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.770241,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.030452,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.59529,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.026967,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.42233,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.556666,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 2663888,
      "relative_activity": 8.23212,
      "balance": 2.556666,
      "dry_up": 3.322543,
      "accumulation_observations": 2,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.185003,
      "annualized_volatility": 1.142766,
      "from_high_reference": -0.794828,
      "from_low_reference": 0.919355
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    "levels": {
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      "fair_value_reference": 2.589674,
      "structural_low": 0.31,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
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    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 26,
        "median_return": -0.080788,
        "positive_rate": 0.230769,
        "directional_follow_through": 0.730769,
        "median_excess_return": -0.110087,
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        "worst_return": -0.335821,
        "sufficient": true
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        "horizon": "Intermediate",
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        "worst_return": -0.5,
        "sufficient": true
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        "end": "2024-04-05",
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        "regime": "balance",
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        "color": "amber",
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        "end": "2025-04-04",
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        "color": "orange",
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        "return": 0.0,
        "active": false
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        "regime": "downward_expansion",
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        "trend": 1.0905,
        "fair_value": 2.904745,
        "relative_strength": -66.502275,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -77.434927,
        "energy": 76.380735,
        "activity_lines": [
          0.73,
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          0.856071,
          0.92814
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 143651.2,
        "trend": 1.045167,
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        "relative_strength": -67.288243,
        "stage": 4,
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        "gate": "down",
        "direction": -75.110525,
        "energy": 76.70771,
        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
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        "fair_value": 2.849424,
        "relative_strength": -68.964361,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -76.792148,
        "energy": 78.497941,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "typical_volume": 131158.95,
        "trend": 0.9565,
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        "relative_strength": -69.84306,
        "stage": 4,
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        "modifier": "Established contraction",
        "gate": "down",
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        "energy": 78.278193,
        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "stage": 4,
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        "direction": -88.974317,
        "energy": 95.383001,
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      },
      {
        "date": "2026-07-03",
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        "typical_volume": 129088.25,
        "trend": 0.853633,
        "fair_value": 2.731886,
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        "stage": 4,
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 129625.2,
        "trend": 0.8223,
        "fair_value": 2.700732,
        "relative_strength": -79.578907,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -82.724511,
        "energy": 93.614213,
        "activity_lines": [
          0.388,
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      },
      {
        "date": "2026-07-17",
        "close": 0.46,
        "volume": 912728,
        "typical_volume": 165783.75,
        "trend": 0.8013,
        "fair_value": 2.672014,
        "relative_strength": -71.004746,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -68.318753,
        "energy": 88.215574,
        "activity_lines": [
          0.3984,
          0.459109,
          0.597814,
          0.685335
        ]
      },
      {
        "date": "2026-07-24",
        "close": 0.42,
        "volume": 274796,
        "typical_volume": 178476.25,
        "trend": 0.780967,
        "fair_value": 2.643809,
        "relative_strength": -72.918816,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -66.584552,
        "energy": 66.891433,
        "activity_lines": [
          0.402133,
          0.440764,
          0.571129,
          0.660735
        ]
      },
      {
        "date": "2026-07-31",
        "close": 0.36,
        "volume": 449246,
        "typical_volume": 199174.05,
        "trend": 0.7633,
        "fair_value": 2.615347,
        "relative_strength": -75.977381,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -74.784946,
        "energy": 68.267912,
        "activity_lines": [
          0.391067,
          0.417418,
          0.540276,
          0.633576
        ]
      },
      {
        "date": "2026-08-07",
        "close": 0.595,
        "volume": 2663888,
        "typical_volume": 323596.85,
        "trend": 0.748467,
        "fair_value": 2.589674,
        "relative_strength": -59.529037,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -48.08877,
        "energy": 40.813744,
        "activity_lines": [
          0.462333,
          0.442073,
          0.533781,
          0.622718
        ]
      }
    ],
    "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."
    }
  }
}