{
  "ticker": {
    "uuid": "8c2cdb4c-c5fc-456e-9351-c48f528ebf23",
    "symbol": "ALUPG",
    "name": "UPERGY Soci\u00e9t\u00e9 Anonyme",
    "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": "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": -15.346,
    "architecture_energy": 14.558,
    "architecture_maturity": 79.039,
    "architecture_confidence": 60.277,
    "architecture_tenure": "Established",
    "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": 53.86,
        "rotation_up": 32.07,
        "upward_expansion": 25.73,
        "deceleration": 49.29,
        "rotation_down": 21.11,
        "downward_expansion": 47.73
      },
      "activity_lines": [
        1.712,
        1.688564,
        1.680017,
        1.719038
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.0
    },
    "latest_close": 1.695,
    "trend_reference": 1.795496,
    "distance_from_trend": -0.055971,
    "trend_direction": "Weakening",
    "fair_value": 1.886652,
    "distance_from_fair_value": -0.101583,
    "fair_value_direction": "Improving",
    "relative_strength": -14.322263,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.192857,
    "excess_performance": -0.246169,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.055971,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.101015,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.101583,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.053635,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.143223,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.031746,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.192857,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 5.524955,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 347,
      "relative_activity": 0.106206,
      "balance": 5.524955,
      "dry_up": 0.391767,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.052485,
      "annualized_volatility": 0.284567,
      "from_high_reference": -0.407343,
      "from_low_reference": 0.107843
    },
    "levels": {
      "trend_reference": 1.795496,
      "fair_value_reference": 1.886652,
      "structural_low": 1.55,
      "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": 31,
        "median_return": 0.032586,
        "positive_rate": 0.580645,
        "directional_follow_through": 0.419355,
        "median_excess_return": 0.003167,
        "regime_survival": 0.774194,
        "best_return": 0.490446,
        "worst_return": -0.198113,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 11,
        "median_return": 0.0,
        "positive_rate": 0.454545,
        "directional_follow_through": 0.454545,
        "median_excess_return": -0.014732,
        "regime_survival": 0.454545,
        "best_return": 0.559748,
        "worst_return": -0.276,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
        "median_return": 0.022857,
        "positive_rate": 0.5,
        "directional_follow_through": 0.375,
        "median_excess_return": -0.052328,
        "regime_survival": 0.375,
        "best_return": 0.144654,
        "worst_return": -0.400662,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": -0.114405,
        "positive_rate": 0.25,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.165803,
        "regime_survival": 0.75,
        "best_return": 0.129032,
        "worst_return": -0.387821,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
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        "end": "2024-05-31",
        "tenure": "Developing",
        "return": 0.03125,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-06-07",
        "end": "2024-06-07",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-06-14",
        "end": "2024-08-02",
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        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2024-09-20",
        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2024-12-20",
        "tenure": "Established",
        "return": 0.15,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-06-27",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-07-18",
        "tenure": "New",
        "return": -0.2,
        "active": false
      },
      {
        "regime": "balance",
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        "end": "2025-09-12",
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        "return": 0.0,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "end": "2025-11-07",
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        "active": false
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        "regime": "upward_expansion",
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      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2026-03-06",
        "tenure": "Developing",
        "return": -0.068627,
        "active": false
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        "regime": "rotation_down",
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        "color": "orange",
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      {
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        "return": -0.010929,
        "active": false
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      {
        "regime": "downward_expansion",
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        "fair_value": 2.001289,
        "relative_strength": -13.307623,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
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        "energy": 75.569639,
        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "trend": 1.994923,
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        "activity_lines": [
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      },
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        "date": "2026-05-15",
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        "typical_volume": 6761.95,
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        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 6540.1,
        "trend": 1.996218,
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        "relative_strength": -12.339559,
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        "modifier": "Early contraction",
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        "energy": 66.872028,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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        "volume": 906,
        "typical_volume": 5521.15,
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        "energy": 53.020066,
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      },
      {
        "date": "2026-06-05",
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        "relative_strength": -13.217096,
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        "regime": "downward_expansion",
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        "energy": 48.84746,
        "activity_lines": [
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      {
        "date": "2026-06-12",
        "close": 1.623164,
        "volume": 394,
        "typical_volume": 4689.85,
        "trend": 1.967573,
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        "stage": 4,
        "regime": "downward_expansion",
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        "energy": 48.798666,
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "typical_volume": 4369.6,
        "trend": 1.93583,
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        "relative_strength": -15.081391,
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        "gate": "down",
        "direction": -60.458991,
        "energy": 47.49471,
        "activity_lines": [
          1.637294,
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          1.78652
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      },
      {
        "date": "2026-07-03",
        "close": 1.59,
        "volume": 0,
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        "trend": 1.90483,
        "fair_value": 1.916549,
        "relative_strength": -18.02414,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -70.111222,
        "energy": 55.64589,
        "activity_lines": [
          1.619403,
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      },
      {
        "date": "2026-07-10",
        "close": 1.73,
        "volume": 15744,
        "typical_volume": 4676.75,
        "trend": 1.87983,
        "fair_value": 1.908162,
        "relative_strength": -9.001614,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -47.904974,
        "energy": 35.220265,
        "activity_lines": [
          1.653573,
          1.650167,
          1.682872,
          1.752929
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      },
      {
        "date": "2026-07-17",
        "close": 1.73,
        "volume": 0,
        "typical_volume": 3783.25,
        "trend": 1.85483,
        "fair_value": 1.902398,
        "relative_strength": -8.943821,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -41.458952,
        "energy": 26.107019,
        "activity_lines": [
          1.682847,
          1.664392,
          1.682706,
          1.743263
        ]
      },
      {
        "date": "2026-07-24",
        "close": 1.685,
        "volume": 400,
        "typical_volume": 3589.35,
        "trend": 1.831663,
        "fair_value": 1.896594,
        "relative_strength": -11.64479,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -36.702444,
        "energy": 20.323528,
        "activity_lines": [
          1.69,
          1.669534,
          1.678873,
          1.732306
        ]
      },
      {
        "date": "2026-07-31",
        "close": 1.74,
        "volume": 4373,
        "typical_volume": 3640.95,
        "trend": 1.808996,
        "fair_value": 1.892017,
        "relative_strength": -10.146076,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -12.433835,
        "energy": 17.956852,
        "activity_lines": [
          1.712,
          1.683898,
          1.681302,
          1.726392
        ]
      },
      {
        "date": "2026-08-07",
        "close": 1.695,
        "volume": 347,
        "typical_volume": 3267.25,
        "trend": 1.795496,
        "fair_value": 1.886652,
        "relative_strength": -14.322263,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -15.346052,
        "energy": 14.557646,
        "activity_lines": [
          1.712,
          1.688564,
          1.680017,
          1.719038
        ]
      }
    ],
    "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."
    }
  }
}